The German-based bank said the FTSE 100 group’s own-label initiatives “are the key operational focus for the company in FY 2019E”
| EPIC: | TSCO |
| Market: | LSE:TSCO |
| 52-week High/Low: | 242.70p / 165.35p |
| Sector: | General Retailers |
| Market Cap: | 23,380.54M |
| Website: | www.tesco.com |
Tesco
Tesco - the leading supermarket in Britain With small grocery stores under the Tesco Metro brand name, big supermarkets outside cities (Tesco Extra) and 24-hour stores.
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Tesco Timeline
Article
Tesco posts 28% rise in underlying operating profits as turnaround under Dave Lewis continues
The UK’s largest supermarket enjoyed a particularly successful year in its core UK & Ireland market, where like-for-like sales grew 2.2% as sector conditions continue to pick up
Article
Tesco: The road to redemption
Tesco was in a mess when Dave Lewis came in three-and-a-half years ago, but the former Unilever man has dragged the retailer through the recovery process and the turnaround looks almost complete
The German bank's analysts said they upgraded Tesco to 'buy' from 'hold' due to improving sector conditions, inflation headwinds easing and competitive pressures subsiding
Discount grocers Aldi and Lidl are continuing to disrupt the market with sales outperforming Britain's four largest supermarkets
"We see Tesco as a visible turnaround with moving parts (eg, new
management, access to new markets, synergies, cost savings, legacy assets)," the broker said
Tesco's shares were also lifted by the latest industry data, which showed it was one of the best performing supermarkets over the last three months
Britain's biggest retailer said the cash and shares deal, originally worth £3.7bn when it was first revealed in January 2017, was implemented through a court-sanctioned scheme of arrangement
Lawyers accuse Tesco of paying its male-dominated warehouse staff more than its predominantly female store workers, even though the value of the work is comparable
Like Tesco, big four rivals Asda and Morrison both experienced sales growth of 2.2%, though lost market share for the 12 weeks to 28 January 2018
Tesco confirmed it will pay a final dividend of 2p and expects to report a profit of at least £1.575bn
Tesco said it hopes to improve efficiency with the job cuts, which will affect 1,700 employees
Like Sainsbury’s on Wednesday, Tesco has told investors it enjoyed a record festive season with UK sales rising 2% in the month leading up to Christmas day
Article
Kantar has Tesco as its top Christmas cracker, but market reckons it could still be a festive turkey
Despite being the top performer among the ‘Big Four’ over Christmas, Tesco shares have been hampered by Morrisons’ good numbers and the continued rise of the discounters
Tesco expects its merger with Booker to be completed in March
The US investment bank upped its stance for Tesco to ‘buy’ from ‘sell’, while boosting its price target from 155p to 220p (current price 201p)
Tesco expects the merger with Booker to be completed in early 2018
“[The merger] is large enough to matter and would provide a credible path for Tesco to work through its key problems”
Newswire
UBS raises target price for Tesco, thinks UK margin progression “is fine in context of a major price
The Swiss bank’s analysts increased their target for Tesco to 270p, up from 260p previously, and reiterated a ‘buy’ rating on the stock
Article
Every little fails to help: Tesco shares reverse as City looks beyond surprise dividend resumption
Mike van Dulken, head of research at Accendo Markets, commented: “A return of dividends has been long awaited as evidence of management faith in the turnaround and recovery
Article
Tesco resumes dividends for first time since 2014/15 accounting scandal, after strong first half pro
The FTSE 100-listed firm reported a 27.3% jump in operating profit before one off items to £759mln for the six months to August 31, up from £596mln a year earlier and beating the consensus forecasts for around £700mln
Analyst Stewart McGuire says only 65% of Tesco stores have an Aldi or Lidl within two kilometres of them - the lowest percentage of the 'Big Four'
Article
UK supermarkets sales up by over 3% for sixth month, with Tesco again leading the ‘Big Four’
Kantar Worldpanel said its latest grocery market share figures showed an overall increase of 3.6% in sales for the 12 weeks to 10 September 2017, compared with the same period last year
Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was its UK finance director, and John Scouler, who was the UK food commercial director, are all charged with one count of fraud by abuse of position and one count of false accounting at the UK’s biggest retailer
Article
UBS raises Tesco target price on expectations for strong margin recovery, Booker merger prospects
The Swiss bank’s analysts said: “We expect Tesco to hit the upper end of its 3.5-4.0% mid-term EBIT margin guidance and, moreover, to do so in a healthy way”
