Tesco is set to respond to Asda’s price-cutting strategy as it reports full-year results. While Asda aims to reclaim market share with lower prices, analysts question its sustainability. Tesco, with a strong balance sheet, expects steady growth despite rising costs.
Tesco is poised to address the pricing challenge posed by rival Asda when it reports its full-year results on Thursday. Asda, the UK’s third-largest grocer, recently announced a strategy to cut prices to reclaim lost market share, even if it means sacrificing profits. However, many analysts are sceptical about Asda's ability to sustain a price war, citing rising prices in the UK grocery market and questioning whether its majority owner, TDR Capital, will provide enough financial backing.
In contrast, Tesco and its close competitor Sainsbury's both have stronger balance sheets, positioning them to better weather the pricing storm. Tesco's market share has remained robust, with the latest data showing a 27.9% slice of the UK grocery market, a slight increase from the previous year. Analysts believe Tesco, along with discount chain Aldi, has a solid strategy in terms of price perception and doesn't need to react aggressively to Asda’s move.
For the year to February 2025, Tesco expects a retail adjusted operating profit of around £2.9 billion, reflecting steady growth despite rising operational costs. Analysts predict continued growth for Tesco in 2025/26, even as market pressures mount.
Start your day informed with AnewZ Morning Brief: here are the top news stories for May 19th, covering the latest developments you need to know.
Portugal's ruling centre-right Democratic Alliance (AD), led by Prime Minister Luís Montenegro, is on track to win the most votes in Sunday’s snap parliamentary election—but likely without securing a governing majority, according to exit polls.
Centrist candidate Rafal Trzaskowski led the first round of Poland’s presidential election on Sunday, edging ahead of nationalist rival Karol Nawrocki and setting up a high-stakes runoff that will determine whether Poland stays on a pro-European course or shifts toward a more nationalist path
Centrist mayor Nicușor Dan appeared poised to win Romania’s presidency on Sunday, defeating far-right, Trump-aligned rival George Simion in a closely watched election that could shape the country’s future within the EU and NATO.
Following Pope Leo’s inaugural Mass at the Vatican on Sunday, Ukrainian President Volodymyr Zelenskyy met with the pontiff, thanking the Holy See for offering to host direct Ukraine–Russia talks and affirming Kyiv’s readiness for any format that could end the war.
Polish Prime Minister Donald Tusk said Friday that Russian hackers launched cyberattacks against websites belonging to parties in his ruling coalition, just two days ahead of the country’s closely watched presidential election.
Portugal’s centre-right Democratic Alliance (AD), led by Prime Minister Luis Montenegro, has won the country’s third parliamentary election in as many years, but once again failed to secure a majority, setting the stage for further political uncertainty.
Australia has confirmed that a fleet of retired U.S.-made Abrams tanks promised to Ukraine is finally on the way, Prime Minister Anthony Albanese told Ukrainian President Volodymyr Zelenskyy during a meeting in Rome on Sunday, according to the Australian Broadcasting Corporation (ABC).
Telegram founder Pavel Durov stated on Saturday that he refused a request from French intelligence chief Nicolas Lerner to block Romanian conservative voices on the messaging platform ahead of the country’s presidential runoff election.
Israel has reportedly proposed a 60-day ceasefire in the Gaza Strip in exchange for the release of half of the remaining living Israeli hostages held by Hamas, according to a report Sunday by Israeli public broadcaster KAN.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Ukrainian and Russian delegations meet behind closed doors at Istanbul’s Dolmabahçe Palace at 10:00 local time today to explore security guarantees, territorial integrity and a possible ceasefire.
EU approves 17th Russia sanctions, blacklisting almost 200 shadow‑fleet ships, 30 evasion firms and 75 defence figures, banning missile chemicals and arming Brussels to strike Kremlin hybrid and operations.
SOCAR Energy Switzerland, a subsidiary of the State Oil Company of the Azerbaijani Republic (SOCAR), has commissioned Switzerland’s first fast-charging station for electric trucks.
The European Bank for Reconstruction and Development (EBRD) has approved its Strategic and Capital Framework (SCF) for the next five years, demonstrating strong and continued support for Ukraine.
The number of billionaires in the UK has dropped for the second year in a row, hitting the lowest level in over a decade, according to The Sunday Times Rich List 2025.
The European Bank for Reconstruction and Development (EBRD) has approved a trade finance line of up to $5 million (€4.4 million) for Unibank under its Trade Facilitation Programme (TFP). The agreement, signed during the EBRD’s 2025 Annual Meeting in London.
Vietnam has approved a $1.5 billion project by the Trump Organization and Kinhbac City to build golf courses, resorts, and homes. Work is set to begin this quarter and finish by mid-2029.
Polish Prime Minister Donald Tusk said Friday that Russian hackers launched cyberattacks against websites belonging to parties in his ruling coalition, just two days ahead of the country’s closely watched presidential election.
Portugal’s centre-right Democratic Alliance (AD), led by Prime Minister Luis Montenegro, has won the country’s third parliamentary election in as many years, but once again failed to secure a majority, setting the stage for further political uncertainty.
Australia has confirmed that a fleet of retired U.S.-made Abrams tanks promised to Ukraine is finally on the way, Prime Minister Anthony Albanese told Ukrainian President Volodymyr Zelenskyy during a meeting in Rome on Sunday, according to the Australian Broadcasting Corporation (ABC).
Telegram founder Pavel Durov stated on Saturday that he refused a request from French intelligence chief Nicolas Lerner to block Romanian conservative voices on the messaging platform ahead of the country’s presidential runoff election.
Israel has reportedly proposed a 60-day ceasefire in the Gaza Strip in exchange for the release of half of the remaining living Israeli hostages held by Hamas, according to a report Sunday by Israeli public broadcaster KAN.
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