Tesco Triumphs with Record Christmas Sales

Tesco, the UK's top supermarket, maintained its full-year profit forecast with a 4.1% rise in UK sales during Christmas. Under CEO Ken Murphy, Tesco improved product value and quality, achieving a market share of 28.5%. Projected profits for 2025 are around 2.9 billion pounds.

Tesco, Britain's largest supermarket chain, confirmed its full-year profit expectations after a notable 4.1% rise in UK sales during the pivotal Christmas period, thereby increasing its market share against competitors.

Under the leadership of CEO Ken Murphy, Tesco has benefited from initiatives aimed at enhancing product value, quality, and customer service. Recent data indicated Tesco concluded 2024 with a UK grocery market share of 28.5%, a significant increase of 80 basis points from the previous year and its highest since January 2016.

"Our biggest Christmas yet boosted our market share," Murphy stated. Tesco anticipates retail adjusted operating profit to hit approximately 2.9 billion pounds for its fiscal year ending February 2025, up from 2.76 billion pounds in 2023/24.

(With inputs from agencies.)