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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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
Archive
Day ahead includes trading updates from food retailer Wm Morrison Supermarkets PLC, housebuilder Perimmon PLC, and staffing group Robert Walters PLC
London's top tier index closed down nearly 28 points at 7,696
Aldi plans to continue its expansion in the UK after opening 76 stores last year
Deutsche Bank downgraded its rating on Carpetright but upgraded ASOS as it took a look at the European non-food retail sector
For the 29th year in the past 34, the blue chips have closed up on the first trading day after Christmas...
Tesco expects its merger with Booker to be completed in March
Investments and investor services
The FTSE 100 index closed down 18.87 points at 7,525 on a day of light volumes
The trading update was short and sweet. Liberum responded by increasing its target price.
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)
Investments and investor services
FTSE 100 closed around 11 points down, while the FTSE 250 dropped almost 65 points
Supermarkets have kicked off contingency plans to stock their shelves after P&H, which delivers food, drink and cigarettes, went into administration
Just Eat has seen its share price more than treble to 820p over the past three years, as it continues to deliver impressive order, revenue and user growth
Retailers have been extending sales across the week to maximise hype and boost sales
The latest ONS data showed that retail sales grew 0.3% in October - ahead of the 0.1% economists had expected - which has boosted the blue chip retailers
Tesco expects the merger with Booker to be completed in early 2018
Sainsbury expects to deliver at least £500mln in cost savings over three years from fiscal year 2018/19
“[The merger] is large enough to matter and would provide a credible path for Tesco to work through its key problems”
Sainsbury's is targeting cost savings of £500mln amid a supermarket price war
Aldi and Lidl collectively added an additional £390mln in sales in the third quarter, which accounts for half of the entire market’s overall growth this period
