UK supermarket Tesco says Mideast war hits profit outlook [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
Paul ELLIS/AFP/AFP Britain's biggest supermarket chain Tesco warned Thursday that its profits could be impacted by the Mideast war lifting food costs, as it posted higher earnings for its last financial year. Tesco said adjusted operating profit for 2026/27 could come in lower compared with the 12 months to the end of February. The figure is forecast to reach between £3 billion and £3.3 billion ($4.1 billion and $4.5 billion), having risen slightly to £3.15 billion in the 12 months to the end of February. "Reflecting the increased uncertainty caused by the conflict in the Middle East, we are providing a wider range of guidance than we were previously planning," the company said in its earnings statement. "Much will depend upon the duration of the conflict and in particular, the potential implications for UK households and the economy more broadly." Tesco chief executive Ken Murphy said the company is "committed to doing whatever we can to help keep down the cost of the we
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