Tesco PLC Starts £750 Million Buyback As UK Inflation Squeeze Tests Profit Outlook
Tesco PLC launched a share buyback of up to £750 million, with the first £250 million tranche managed by Citigroup. The move follows a profit forecast of £3.0–£3.3 billion for 2026/27 and comes as UK inflation rose to 3.3% in March. Tesco shares closed 1.5% higher at £4.95 on Wednesday.