Tranzactioneaza Tesco (UK.TSCO) - 3.556 GBP (%) Tranzactioneaza
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Pessimism weighing on Britain's households has hit unprecedented levels, as wages struggle to keep pace with inflation that reached 9% in April and is heading for double digits. Food inflation is predicted to hit 15% this summer. Britain's biggest retailer, which has an over 27% share of the UK grocery market, said it was also seeing early signs of customers opting for cheaper products in areas of significant inflation. Last week Poundland owner Pepco said Britons were reining in spending on essential items, while on Thursday online fashion retailers ASOS and Boohoo said sales were being dented by consumers returning garments. 
Tesco and Britain's No. 2 grocer Sainsbury's have previously warned of a hit to profits this year as they plough cash into keeping prices competitive to deter customers from switching to German-owned discounters Aldi and Lidl. Tesco maintained its full-year profit guidance despite reporting a 1.5% drop in underlying UK sales over the 13 weeks to May 28, broadly in line with analysts' forecasts. They had fallen 1.2% in the previous quarter. 
Tesco's shares have fallen 14% so far this year.