The chief executive of Tesco says chain will “adapt to whatever decisions the British public make” after Andy Burnham raises prospect of a fresh Brexit vote
Tesco’s sales reached almost £34billion in the first six months of 2026(Image: 2024 PA Media, All Rights Reserved)
The boss of Tesco said anything that improves food availability in the UK was a “good thing” – as Andy Burnham hinted at a second Brexit referendum.
The PM said late last month it was “possible” a future Labour election manifesto could promise a new in-out referendum on the European Union.
He told the BBC a referendum it “wouldn’t be the right thing to do right now” but the UK needed to “consider the options” for its relationship with the EU. Mr Burnham is in Germany to hold talk with Chancellor Friedrich Merz on tackling cyber security threats and sabotage.
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Ken Murphy, Tesco chief executive, said: “Tesco will always adapt to whatever decisions the British public make and the government makes. We are very happy to respond to what the government of the day decides.” But he added: “Whatever makes food in the UK more accessible is a good thing.”
His comments come amid concerns about ongoing difficulties caused by border checks between the UK and EU since Brexit.
It is against a backdrop of potentially higher prices for families if farmers and produces pass on higher costs due to everything from the energy crisis to this summer’s drought.
Mr Murphy sought to reassure Tesco’s millions of customers that the supermarket giant would “keep a lid” on prices. “Inflation in food is well below wage inflation,” he said, “That is something to feel really good about.”
He was speaking to reporters as Tesco announced a jump in sales for the first half of the year amid an online shopping boost.
The UK’s biggest supermarket chain said sales, excluding fuel and VAT, totalled £33.8billion for the 26 weeks to August 29 while profits jumped by 6.3% to £1.8billon. Tesco said a strong financial performance for the first half meant it was now expecting profits of between £3.15billion and £3.3billion for the full year – an improvement on the £3billion to £3.3 billion range it had previously guided.
Consumer confidence has been “relatively resilient” but “ongoing political tensions continue to create uncertainty”, the company said, which was translating to demand for a better value weekly shop. Nevertheless, the supermarket’s “Finest” range of more premium products saw sales jump by 9% in the UK, and is on track to hit the £3billion barrier this year.
The results came after recent reports that rivals Sainsbury’s and Morrisons held merger talks earlier this year. Mr Murphy refused to be drawn on the speculation, while insisting there was “a lot to go for” in growing Tesco.
