英国零售巨头迎来业绩修复期 2026年盈利增长有望跑赢大盘

Core Viewpoint - The UK retailers are expected to see profit improvement by 2026 after facing challenges such as persistent food inflation, competition from low-cost rivals, and significant cyberattacks [1] Group 1: Retailer Performance - Tesco, Sainsbury's, and Marks & Spencer are set to update their Christmas trading data, which will lay the groundwork for anticipated profit recovery this year [1] - The combined earnings per share for these three supermarkets are projected to grow by 13.5% this year, following a decline of 1.5% in 2025 [1] - This growth rate outpaces the broader UK consumer staples sector and exceeds the expected 10% profit growth rate for the entire FTSE 100 index [1] Group 2: Market Challenges - Food inflation remains stubborn throughout 2025, compelling retailers to engage in price matching and expand promotions to maintain market share against low-cost competitors [1] - Government tax measures targeting employers have resulted in increased labor costs for supermarkets [1] - Citigroup analyst Monique Pollard anticipates that while food inflation is sticky, it is expected to decelerate to 3% by 2026 [1]