Tesco Plc S/Adr (TSCDY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome. I'm in Welland with Imran to share an update on our performance over the first half of the year, as well as the progress we are making to unlock our longer-term growth opportunities. I'm pleased with the progress we've made across the half. Our strong momentum is once again down to the brilliant work our colleagues do day in, day out, to put our customers first. I'd like to start today by saying a huge thank you to all of them. In the face of increased competitive intensity and additional taxes, we took decisive action to further invest in delivering the best possible value, quality and service. Our actions have resonated with customers. Satisfaction has increased and consequentially we have continued to grow market share. In fact, even more share than we anticipated. Alongside strengthening our competitive position, we have continued to invest in both our core business and long-term growth opportunities, enabled by our Save to Invest program. The strong response from customers to the improvements in our offer is reflected in our financial performance, which Imran will take us through in more detail shortly. To summarize, our group sales grew 5.1% with growth in all operating segments and our adjusted operating profit increased by 1.6%. Though we are pleased with our performance so far, we remain focused on delivering the best possible value for our customers as they start to get ready for Christmas. Building customer trust and satisfaction is at the very heart of everything we do. Our overall brand perception score has increased year on year and remains well ahead of the competitor average. We outperform peers across the board with continued gains in satisfaction, value and quality. Our net promoter score has also moved forward d...