Retail
Irish boss of Tesco improves profit guidance as food inflation eases
Ken Murphy said that some prices would still rise but many staples have begun to fall
Ken Murphy, the Irish boss of Tesco, has said the supermarket giant is “doing everything we can to drive down food bills” as it improved its profit guidance.
The chief executive said it benefited from investment in pricing and customers switching “from premium retailers” as they continue to grapple with the cost of living crisis.
The company, which is the UK’s largest private employer, also signalled that food inflation would fall further after a slowdown ...
