Company
LON:TSCO
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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The FTSE 100 looks set to end the day with solid gains, with sentiment buoyed by a better than expected showing by the services sector in September.
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Also worth watching out for are updates from CMC Markets, Restaurant Group and Robert Walters
Incoming chief executive Ken Murphy is replacing Dave Lewis, who is widely regarded as the man who turned the grocer's around
Customers can only buy flour, dried pasta, toilet roll, baby wipes and anti-bacterial wipes in three
The upcoming results will be the first under new chief executive Ken Murphy
The supermarket giant said it was seeing exceptional growth online
Analysts at UBS say their research indicates the higher level of online grocery use are “likely here to stay”
A report last year found seven out of the top 10 UK supermarkets had increased their plastic footprint, with Waitrose, Tesco and Sainsbury’s achieved only marginal reductions
It had been expected that the executive pay report was going to be approved by a small margin
The grocer expects extra charges of £840mln following safety and payroll adjustments during the pandemic
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Britain's index of leading shares closed the day up just 12 points, or 0.20%, at 6,159.
The grocery giant is facing a shareholder revolt at the AGM over the pay packet of outgoing chief executive Dave Lewis
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Britain's blue chip benchmark finished down almost 48 points, or 0.76%, at 6,244 on Monday
The £6.4mln wage package of outgoing boss Dave Lewis has split shareholder opinion amid an ongoing debate around executive pay during the coronavirus crisis
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Also on the corporate earnings calendar are car retail website Auto Trader and brewer nd pubs operator Marston's
Last year the stores reported an underlying operating loss of £107mln on sales of £974mln
The supermarket chain said Alan Stewart played an “instrumental” role in the turnaround of the company
“The structural challenges are in the price, in our view: the UK sector is at an 8% discount to the market as the debate is now nuanced”
The final dividend declared today amounts to £636.5mln, while the grocery group expects a £585mln benefit from the government's business rates holiday for the retail sector - but is it quite so simple as that?
Shore Capital analysts downgraded the supermarket group and put their rating for rival Sainsbury's under review as extra costs were estimated at £650-925mln
