Tesco lifts annual profit forecast to up to £3.3bn

Tesco raised its annual profit forecast to £3.15bn-£3.3bn after first-half underlying profit rose 6.5% to £1.8bn on sales of £33.8bn. The UK retailer said on 8 October 2026 that consumer confidence stayed relatively resilient despite geopolitical uncertainty. I read this as a bet that UK grocery demand holds through the second half.