Tesco stock slips as first quarter growth slows

Tesco stock traded at GBP 4.81 in London at 12:28 p.m. on September 22, 2026, down 0.6 percent on the session. The shares remained 16.75 percent above their 52-week low of GBP 4.12, while the latest reported first quarter brought slower like-for-like growth.

First quarter growth slows

According to Halifax on September 21, 2026, Tesco reported group sales of GBP 16.83 billion for the 13 weeks to May 30, excluding value-added tax and fuel. Like-for-like sales increased 1.8 percent, compared with 3.1 percent in the fourth quarter of fiscal year 2025/26.

The comparison shows the pressure on volume and pricing as customers respond to higher prices and competition from cheaper retailers. Fuel was a counterpoint: quarterly fuel sales rose 19.5 percent to GBP 1.7 billion, according to the same trading statement published by Halifax.

Guidance stays at GBP 3.3 billion

Tesco maintained its fiscal year 2026/27 adjusted operating profit guidance at GBP 3.0 billion to GBP 3.3 billion in the September 21, 2026 report by Halifax. The unchanged range gives the slower 1.8 percent sales growth a measured interpretation: current trading has softened, but the company has not reduced its operating-profit framework.

For investors, the key tension is the gap between the 1.8 percent first quarter like-for-like increase and the 3.1 percent rise in the preceding quarter. The 19.5 percent increase in fuel sales adds revenue, but fuel typically carries a different margin profile from grocery sales.

Tesco stock remains below yearly high

Tesco stock reached GBP 5.08 on February 25, 2026, its 52-week high, and GBP 4.12 on January 24, 2026, its 52-week low. At GBP 4.81 on September 22, 2026, the shares were 5.31 percent below the high and 16.75 percent above the low.

The previous completed London session closed at GBP 4.835 on September 21, 2026, up 1.53 percent, with 7,029,929 shares traded and a market capitalization of GBP 30.12 billion. The price therefore entered September 22 close to the upper part of its 52-week range, even as the latest operating comparison pointed to slower growth.

Stock trades near GBP 4.81

Tesco stock traded at GBP 4.81 on the London Stock Exchange at 12:28 p.m. on September 22, 2026, down 0.6 percent on the day. The latest operating figures are group sales of GBP 16.83 billion and like-for-like growth of 1.8 percent for the 13 weeks to May 30, while fiscal year 2026/27 adjusted operating profit guidance remains GBP 3.0 billion to GBP 3.3 billion.

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