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Tesco PLC (TSCDY) Q1 2027 Sales/Trading Call Transcript
SA Transcripts · 2026-06-18 · via All Articles on Seeking Alpha

Tesco PLC (TSCDY) Q1 2027 Sales/Trading Call June 18, 2026 4:00 AM EDT

Company Participants

Ken Murphy - Group CEO & Executive Director
Imran Nawaz - CFO & Director

Conference Call Participants

Sreedhar Mahamkali - UBS Investment Bank, Research Division
Clive Black - Shore Capital Group Ltd., Research Division
Izabel Dobreva - Morgan Stanley, Research Division
Manjari Dhar - RBC Capital Markets, Research Division
Robert Joyce - BNP Paribas, Research Division
Xavier Le Mené - BofA Securities, Research Division
William Woods - Bernstein Institutional Services LLC, Research Division
Monique Pollard - Citigroup Inc., Research Division
Matthew Clements - Barclays Bank PLC, Research Division

Presentation

Ken Murphy
Group CEO & Executive Director

Good morning, everyone, and thank you for joining Imran and I following the publication of our first quarter trading update earlier today. We've made a good start to the year. I'm particularly pleased with our strong customer satisfaction scores, helping to drive further sales growth on top of the exceptional performance we delivered last year. Alongside ongoing investments in value, quality and service, we are making strong progress against the longer-term growth drivers we set out in April, including personalization, retail media and digital capability. As we build on the unique strengths of our business, we are unlocking sustained long-term growth for all our stakeholders.

I'd like to say a big thank you to all our colleagues for their continued hard work and commitment. Their focus on delivering consistently great service has once again been key to our performance. Before opening the call to your questions, I would like to take a few moments to run through some of the highlights of the quarter.

Like-for-like sales in the U.K. grew by 1.8%, against a particularly strong comparative period last year, which benefited from record-breaking weather and disruption at some of our competitors. This was also reflected in market share, where we broadly