|Day's range||6.86 - 6.92|
|52-week range||6.00 - 8.24|
|PE ratio (TTM)||-384.44|
|Dividend & yield||0.00 (0.00%)|
|1y target est||N/A|
Tesco (Frankfurt: 852647 - news) , Britain's biggest retailer, is extending its same day online grocery delivery service across the whole of the country, it said on Monday, ratcheting up competition in the cut-throat supermarket sector. Online shopping is one of the better-performing parts of Britain's retail sector and has become a key battleground for the big supermarkets as they grapple with the growth of German discounters Aldi and Lidl and encroachment into all areas by U.S. giant Amazon. Britain's online food market is expected to grow by 54 percent to 16 billion pounds ($21 billion) in the five years to 2022, according to industry research group IGD.
Britain's competition regulator has referred supermarket Tesco's proposed 3.7 billion pound ($4.75 billion) takeover of wholesaler Booker for a detailed investigation, granting a request from the companies to "fast track" the process. Tesco, Britain's biggest retailer, and Booker announced the cash and shares deal in January and the Competition and Markets Authority (CMA) formally started a phase 1 review in May.
Britain's competition regulator has referred supermarket Tesco's proposed 3.7 billion pounds ($4.75 billion) takeover of wholesaler Booker to a detailed investigation, ceding to a request from the companies to "fast track" the process. The Competition and Markets Authority (CMA) said on Wednesday it believed that in over 350 local areas where there is currently an overlap between Tesco shops and Booker-supplied independent grocery retailers, or 'symbol' stores, shoppers could face worse terms when buying their groceries. It said there were concerns that if the deal was cleared there was potential for Booker to reduce the wholesale services or terms it offers the ‘symbol’ stores it currently supplies, in order to drive customers to their local Tesco.