Apr 13, 2022
Tesco: a cautionary inflationary tale
Tesco is guiding for flat or falling retail operating profits this year - from £2.65bn to between £2.4bn and £2.6bn - as the consumer squeeze hits. As the market leader, with a share almost the size of the next two biggest stores, Sainsbury and Asda combined, Tesco has leverage with suppliers. Tesco faces its own rising bills from suppliers, transport and labour. Tesco tackles this with discount ranges and price-matching with discounter peer Aldi. Inflation notwithstanding, Tesco brags that some items are cheaper than a decade ago: two litres of milk now costs £1.25 versus £1.58 in 2010.
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