People watching every penny, says Tesco
Tesco has said people are "watching every penny" as they try to make ends meet, amid rising costs.
The UK's largest supermarket chain said customers are looking for ways to make their money go further, including cutting back on eating out. It came as Tesco reported a fall in half-year profits and warned full-year profits would be at the lower end of its previous guidance., driven by the rising cost of food and energy."As we look to the second half [of the year], cost inflation remains significant, and it is too early to predict how customers will adapt to ongoing changes in the market," said Ken Murphy, Tesco's chief executive.
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