LONDON, Oct 5 ― Tesco, Britain's biggest retailer, today forecast full-year core profit to be around the lower end of its previous guidance, saying there were significant uncertainties over the macro outlook.
“Significant uncertainties in the external environment still exist, most notably how consumer behaviour continues to evolve,” it said. Confidence levels among Britain's consumers sank to a record low last month as they struggle with the accelerating cost of living, even before the government's mini-budget sowed turmoil in the mortgage market, leading to warnings of a sharp drop in house prices.
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