What was Tesco's UK like-for-like sales growth in the first quarter, and how did it compare to analyst expectations and the previous quarter?

Tesco's UK like-for-like sales rose 1.8% in the 13 weeks to May 30, which was below analysts' consensus forecast of 2.3% and down from growth of 3.1% in the previous quarter.

How did Tesco respond to the Iran war's impact on consumer behaviour, and what financial guidance did it reaffirm?

Tesco attributed the slowdown in UK sales growth to ongoing consumer uncertainty caused by the conflict in the Middle East — specifically citing its impact on energy prices and subsequent effects on spending — and yet maintained its full-year adjusted operating profit guidance of £3.0 billion to £3.3 billion for the year ending February 2027.

Tesco's UK Sales Growth Slows as Iran War Weighs on Consumers

Jun 17, 2026

Tesco reported slower-than-expected UK sales growth in Q1, attributing the slowdown to consumer uncertainty caused by the Middle East conflict. Despite this, the retailer maintained its full-year profit guidance.

reuters

2026-06-17

Tesco's UK Sales Growth Slows as Iran War Weighs on Consumers

Tesco's UK Sales Growth Slows as Iran War Weighs on Consumers

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