In Tesco’s most recent financial report, Chief Executive Ken Murphy said the company’s continued focus on value and quality, along with market-leading availability, competitive prices, and new products, has contributed to its highest market share in nearly 10 years.

The retailer’s preliminary 2024–25 results show a 4.0% increase in sales at constant rates, driven by higher volumes, a stronger category mix, and ongoing investments in value, quality, and service.

Tesco also reported a 3% rise in revenue and a 10.9% increase in group adjusted operating profit. However, the report showed slight declines in free cash flow, operating profit, and net debt.

Looking ahead, Tesco expects adjusted operating profit for the coming year to range between £2.7 billion and £3.0 billion (approximately $3.43 billion to $3.81 billion), compared to £3.13 billion ($3.97 billion) in FY 2024–25. Free cash flow is projected to fall within its medium-term guidance of £1.4 billion to £1.8 billion ($1.78 billion to $2.29 billion).

To meet its goals, the company highlighted several strategic priorities, including its Clubcard program, the opening of new stores, the refresh of existing locations, and cost reduction efforts through automation and simplified in-store routines.