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Tesco raises profit forecast as shoppers shrug off Middle East war uncertainty with online sales up 8%

From the Newshound archive · first published 8 October 2026.

Ken Murphy, Tesco's chief executive, whose company has raised its full-year profit forecast to as much as £3.3bn, with online sales up 8.4% and its Whoosh rapid delivery arm surging 37%.
Ken Murphy, Tesco's chief executive, whose company has raised its full-year profit forecast to as much as £3.3bn, with online sales up 8.4% and its Whoosh rapid delivery arm surging 37%.

Tesco has lifted its annual profit forecast after reporting a 6.3% jump in first-half operating profit to £1.8bn, even as the Iran conflict and geopolitical tensions weigh on consumer confidence. Chief executive Ken Murphy said he was "feeling really optimistic and positive" heading into the critical Christmas trading period. Online sales surged 8.4% in the UK, while its rapid delivery arm Whoosh soared 37%.

Tesco now expects full-year profits of between £3.15bn and £3.3bn, up from its previous lower bound of £3bn.

Premium 'Finest' range sales jumped 9%, topping £3bn for the year, as restaurant prices push shoppers toward upmarket dine-in alternatives.

Tesco is also expanding its share buyback programme to £950m, up from £750m, signalling confidence in its financial position.

MoreThe TimesTesco raises profit forecast as online sales surge - The TimesDaily MailTesco narrows profit guidance as shoppers shrug off 'uncertainty'The GuardianTesco lifts profit forecast and says consumer confidence is resilientLBCTesco sales boosted by online shopping as consumers hunt for ‘value’City A.M.Tesco sales edge lower as ‘uncertain backdrop’ weighs on shoppers
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