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 UK food retailer said its underlying sales excluding fuel rose by 0.4% in its second quarter, but removing the impact of an earlier Easter which this year benefited the first quarter, sales were up 2.6%
Tesco's tie-up with Carrefour will allow the two to negotiate better terms from suppliers
News of further market share losses for Tesco will likely add more weight to reports over the weekend that it is looking to launch a new discount brand to rival Aldi and Lidl
According to the Guardian, workers at one Tesco store in Liverpool which is due to close have been promised potential jobs at a “new retail format” store opening in September
Britain's biggest retailer said Charles Wilson, the former CEO of wholesaler Booker which Tesco acquired in a deal that completed in March, will focus on leading the Booker business
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Wednesday is US Independence Day, meanwhile, the hangover from England's big game may leave London welcoming a light diary.
Supermarkets have been tackling rising competition from discounters Aldi and Lidl and the growing threat of Amazon
Tesco and Carrefour said the partnership will allow the companies to improve the quality and choice of products at lower prices
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The week ahead will see quarterly results from Sainsbury's and AB Foods, trading updates from Bovis Homes and Persimmon, and full year earnings from SuperDry
As a result, the bank’s analysts have raised their rating for Sainsbury’s to ‘overweight’ from ‘equal-weight’ and increased their target price to 375p from 300p previously
The market researcher said sales at the FTSE 100 supermarket chain were down 0.2% in the 12 weeks to June 17, while all its ‘big four’ rivals saw sales increase
The UK blue-chip index finished over 46 points higher, at 7,555..
Tesco said as a result of the group’s investment in lower everyday prices, fewer than one in eight transactions receives any refund
Tesco had a solid start to the year with first quarter sales supported by the acquisition of Booker
In a first-quarter trading update for the 13 weekend to 26 May 2018, the retail giant reported group like-for-like sales growth of 1.8%, with an increase in the UK & the Republic of Ireland of 3.5%
The UK's top share index shed over 131 points at 7,633, while mid-cap brother FTSE 250 was also lower
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The week comes to a close with a first-quarter update from the UK's biggest (but potentially soon to be second biggest) supermarket
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Aside from the ECB meeting, the day ahead also includes an annual general meeting for Wm Morrison Supermarkets, and updates from PZ Cussons and Majestic Wine
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The UK pound shed 0.38% against the Euro, while it was off 0.30% against the US dollar.
Tesco Bank, which has more than five million customers, apologised for the shutdown which lasted about four hours from 9.30am, according to the BBC News website
