Tesco raises profit outlook after strong sales growth in first half

Tesco has raised its profit forecast for the year after reporting a rise in sales and profits for the first half. The supermarket now expects annual retail adjusted operating profit to reach about £2.9 billion, up from at least £2.8 billion. Group sales increased by 3.5% to £31.4 billion, with pre-tax profit rising 20% to £1.4 billion. The growth was driven by volume rather than price, with like-for-like sales up 2.9%. Tesco is focusing on expanding its use of artificial intelligence to personalize shopping experiences. This includes using data from its Clubcard loyalty program to help customers make healthier choices.