Today’s news in brief-10/4/25

Tesco has warned of lower profits in the coming financial year, forecasting between £2.7bn and £3.0bn, down from £3.13bn in FY24/25, citing increased price competition among UK supermarkets. Despite this, group sales rose 4% to £63.6bn, with UK market share reaching 28.3%, its highest since 2016. CEO Ken Murphy highlighted investments in value, innovation, and digital capabilities, including over 1,600 new or improved products, as key to maintaining competitiveness.

JD Sports anticipates FY26 profit before tax of £920m, aligning with analyst expectations, but cautioned over market volatility and tariffs. Revenue is projected to grow 10%, bolstered by recent acquisitions, including Hibbett and Courir, which expanded its store count to 4,850. Like-for-like sales rose 0.3%, driven by growth in Europe, North America, and Asia Pacific. CEO Régis Schultz emphasised the company’s strong cash generation and plans to capitalise on organic growth opportunities.

John Lewis is investing heavily in its Home range, introducing 30 new brands such as Harlequin x Henry Holland and West Elm, alongside a collaboration with Sanderson. The retailer aims to solidify its position as a home lifestyle leader, supported by a new bi-annual publication, *Foundation*, and a major spring marketing campaign. The brand will also partner with the winner of BBC’s *Interior Design Masters* to create an exclusive homeware collection.

Deliveroo has launched Deliveroo Express, a white-label grocery delivery service, with Tesco as its first partner in Ireland. The initiative allows retailers to offer on-demand delivery via their own platforms, powered by Deliveroo’s logistics network. Initially trialled in three Tesco Whoosh stores, the service provides 3,000 products with delivery in as little as 45 minutes. Deliveroo’s grocery segment, which accounts for 16% of gross transaction value, continues to see strong growth, with the new service expected to expand further.