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Sandra Halliday Published
October 4, 2025
Tesco was upbeat on Wednesday as it reported fairly strong first-half results that sent its share price higher. But its fashion ops were less buoyant.
The retailer, which is Britain’s largest supermarkets operator, said group sales (excluding VAT and fuel) rose 8.9% to £30.7 billion. Adjusted operating profit was up 14% at £1.48 billion. Profit before tax jumped from £396 million to £1.2 billion.
Much of the focus in the earnings report was understandably on its grocery operations as that's the biggest part of its business.
But it said that Home and Clothing sales, which account for around 7% of total UK sales, declined by 4.8%. This primarily reflected the impact of “strategic ranging decisions, including exiting and reducing low returning categories such as large electricals and adult footwear”.
At least it was able to add that excluding these impacts, sales were broadly flat. “We outperformed the rest of the market in Clothing across the half and further improved our value perception against our key competitors,” it added.
The supermarket fashion sector is hugely competitive as the big names double down on their fashion offer. Sainsbury's in particular is going all out to catch a bigger share of the market, introducing third-party brands into it stores and its website, and the company already dedicates a massive amount of space to the category in its larger shops.
Back with Tesco, it said it will launch its Paperchase range in 120 stores in November, “with great quality products which reflect the heritage of the Paperchase brand”. The company acquired the failed stationery chain at the start of this year but not its 100 stores, which were then closed.