Tesco warns of war uncertainty

The supermarket giant posted sales of €3.7 billion in Ireland, increasing its market share to nearly a quarter.

However, management expressed concern that a prolonged Iran war could lead to double-digit food inflation and shortages of key items like carbon dioxide.

To mitigate these risks, Tesco plans to implement a further £500 million in cost savings over the coming year.

The company's cautious stance reflects a broader anxiety across the retail sector as energy costs and global trade volatility continue to impact the bottom line.