TSCO.L - Tesco PLC

LSE - LSE Delayed price. Currency in GBp
227.00
-1.20 (-0.53%)
As of 8:47AM BST. Market open.
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Previous close228.20
Open227.50
Bid227.10 x 215000
Ask227.10 x 175000
Day's range225.80 - 228.60
52-week range187.05 - 266.80
Volume1,627,842
Avg. volume24,998,859
Market cap22.097B
Beta (3Y monthly)1.16
PE ratio (TTM)16.69
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.06 (2.31%)
Ex-dividend date2019-05-16
1y target estN/A
  • Reuters - UK Focusyesterday

    CORRECTED-UPDATE 2-FTSE 100 edged up as gains in miners, oil offset global angst

    London's FTSE 100 eked out modest gains on the back of strength in mining companies and oil stocks on Tuesday, alleviating some anxiety after the United States imposed more sanctions on Tehran and before Sino-U.S. trade talks this week. The FTSE 100 erased earlier losses to edge 0.1% higher, while the mid-cap FTSE 250 lost 0.1%. Shares of heavyweight miners rose after a strike at a major mine in top copper producer Chile highlighted supply constraints, while oil firms advanced in anticipation of a bullish reading of U.S. crude stock data.

  • Reuters - UK Focusyesterday

    UPDATE 2-Britain's Sainsbury's underperforms rivals again in latest data - Kantar

    * Sainsbury's sales down 0.6% in 12 weeks to June 16 * Overall UK grocery sales up 1.4% in period * Sainsbury's due to update on first quarter next week (Adds table, analyst comment, shares) LONDON, June 25 (Reuters) - British supermarket chain Sainsbury's underperformed its big four rivals again in the last 12 weeks, in a market that posted only modest growth during a wet start to the summer, industry data showed on Tuesday. In the 12 weeks to June 16, Sainsbury's sales fell 0.6%, market researcher Kantar said. In contrast, sales were flat at market leader Tesco , slipped 0.1% at Asda and dipped 0.5% at No. 4 Morrisons.

  • Bloomberg2 days ago

    Billionaire's $6.6 Billion Bid Comes with Strings

    (Bloomberg Opinion) -- Even the most unloved companies in the least popular industries can attract takeover interest in the end.The tentative 5.8 billion-euro ($6.6 billion) offer for German’s Metro AG shows that investors can see value in the most unlikely places. Part of the allure must be that the food wholesaler’s defense options are so very limited.Metro split into two in 2017, hiving off its consumer electronics business into Ceconomy AG. Since then, the remaining wholesale business has struggled under CEO Olaf Koch: By July last year, 12 months on from the demerger, its shares were down by about 45%.In August, billionaire Daniel Kretinsky and business partner Patrik Tkac acquired a stake from the Haniel family, one of Metro’s three big shareholders. Now the duo are back with an attempt to buy most of the company through their vehicle EP Global Commerce VI GmbH. The Haniels have pledged their remaining stake.The offer is clearly opportunistic. At 16 euros a share, it is just 3% above Friday’s close. That widens to a 35% premium to the price in August. Identifying the undisturbed share price here isn’t easy: Metro has gained on the expectation of a bid, but Koch, too, has been working hard to turn the company around.The CEO will have difficulty fighting this off. Finding alternative bidders will not be easy given the challenges facing the industry. Sales have been declining and private equity firms are likely to be wary. Metro might look superficially tempting to Tesco Plc, which bought U.K. wholesaler Booker last year. But notably absent from the grocer’s investor update last week were any plans to expand Booker internationally.If there’s any prospect of a counter-bid, it would most plausibly come from Asia. Metro is in the process of selling its Chinese arm perhaps for as much as $2 billion. Potential buyers may now see the opportunity to buy the whole group.Koch can really only try to argue that shareholders would miss out on a recovery by selling now. EP Global would bring no industrial synergies to a deal: There is nothing it can do that Metro shouldn’t be able to do by itself. The snag is that Koch has been around for seven years and has had ample chance to try.The attitude of the big shareholders will be critical. The Haniels seem to be losing patience. What Meridian Stiftung, with 14%, and Otto Beisheim foundation, with 7%, think isn’t yet clear.If Kretinsky's offer gets him to about 75% ownership, he could reach a so-called domination agreement, giving him control of the group’s cashflow without having to buy the whole company. If other shareholders consent, he might be able to secure such an accord with a lower stake. They might well do so, as these deals typically involve a guaranteed backstop price for minorities and decent dividends in the meantime.If Metro finds a buyer willing to pay more, Kretinsky would still get out at a profit. Or, if he struggles to get enough support, he could walk away. The offer is provisional. EP Global already had options to buy shares from the Haniels and others that would have taken it above the 30% threshold that would force a mandatory bid under German rules. Instead, it has structured the offer as conditional on reaching an as yet unstated acceptance hurdle. That keeps EP off the hook – hence the shares haven't risen much above the price being dangled.Credit to Kretinsky: He appears to win in every scenario. Koch by contrast, has a fight on his hands.\--With assistance from Andrea Felsted.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • The Bitter Contest for China’s Online Shoppers
    Bloomberg2 days ago

    The Bitter Contest for China’s Online Shoppers

    (Bloomberg Opinion) -- Carrefour SA, Europe's largest retailer,  may be the latest Western company to pull back from China. It’s unlikely to be the last.On Monday, the hypermarket operator said it would sell 80% of its China business for 4.8 billion yuan ($699 million) in cash to Suning.com, the Chinese retailer backed by Alibaba Group Holding Ltd. Carrefour will retain a 20% stake. Over the past few years, the French company’s plans to shrink its China footprint has been one of the worst-kept secrets in banking. Though Carrefour sold the business pretty cheaply – with a valuation of 0.2 times 2018 sales, compared with the industry average of 0.84, according to Citigroup Inc. – loosening its ties to the mainland may be a smart move, whatever the price. With sales in the country flagging and losses piling up, the deal comes as China’s macroeconomic picture is also darkening.Yet the key challenge for Carrefour preceded the trade war. In recent years, online-only players such as Alibaba have been piling pressure on brick-and-mortar operations, with Tesco Plc, Best Buy Co. and Marks & Spencer Plc each announcing plans to pull back from the mainland market. Carrefour’s share of the country’s hypermarket segment fell to 4.6% last year from 8.2% in 2009, Citi writes.(1)   That’s a problem in a country with one of the world’s biggest rates of e-commerce penetration. China's online retail sales reached 3.86 trillion yuan in the first five months of this year, accounting for more than one-fifth of the country's total purchases of consumer goods, according to a recent report by the Chinese Academy of Social Sciences. To make matters worse, foreign brands no longer have the cachet they once enjoyed – at least in low-end consumer goods. In a survey last year, Credit Suisse AG said that Chinese consumers preferred domestic purveyors in categories like food and drinks and home appliances. With the trade war whipping up nationalist fervor, that trend may accelerate: The bank's latest poll of shoppers 18 to 29 years old showed that 41% preferred phones made by Huawei Technologies Co., up from 28%, while interest for Apple Inc.’s products fell to 28% from 40%.For many firms, ceding control to a local partner is probably the best way forward. Carrefour appears to be borrowing a page from the playbook of McDonald’s Corp., which sold 80% of its China business in 2017 to a tie-up between state giant Citic Group Corp. and private equity firm Carlyle Group LP.Or consider Walmart Inc., which sold its e-commerce delivery site to JD.com Inc. in 2016 in exchange for a stake in the Chinese retailer. The U.S. firm now aims to open 40 of its Sam’s Club stores in China by 2020. Costco Wholesale Corp. is also betting on China’s appetite for bulk buying, with plans to open its first bricks-and-mortar store in August. Whether Costco can pull this off without a local partner remains unclear.What is clear is that Carrefour won’t be the last retailer to rethink its China strategy. Germany's Metro AG is also looking to sell its $1.5 billion Chinese business. At a time when Chinese acquisitions overseas have dried up, bankers at least can thank Western firms for managing to drum up some business from the mainland. (1) The bank citesEuromonitor International research.To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • The Tesco share price: is it the biggest investment trap on the FTSE 100?
    Fool.co.uk4 days ago

    The Tesco share price: is it the biggest investment trap on the FTSE 100?

    Royston Wild considers whether FTSE 100 (INDEXFTSE: UKX) stock Tesco plc (LON: TSCO) threatens to lose its shareholders a fortune.

  • I think the Tesco share price could be back to 300p within a year
    Fool.co.uk5 days ago

    I think the Tesco share price could be back to 300p within a year

    Tesco plc's (LON: TSCO) recovery is nearing completion, and the market seems to be overlooking the firm's growth argues Rupert Hargreaves.

  • Reuters - UK Focus7 days ago

    Online and discounters to drive 12.5% growth in UK grocery by 2024

    Britain's food and grocery industry is forecast to grow by 12.5% to 217.7 billion pounds ($272.8 billion) by 2024, driven by the online and discounter channels, researcher IGD said on Thursday. It said online will be the fastest growing channel, with growth in value of 43.8% to 16.7 billion pounds in the next five years, just ahead of discounters, which are forecast to grow 40.2% to 34.3 billion pounds. IGD said online's market share will increase to 7.7%, while discounters' will rise to 15.8%.

  • Barrons.com7 days ago

    How to Win in the Cutthroat Grocery Business, According to Tesco CEO Dave Lewis

    Dave Lewis, one of our World’s Best CEOs of 2019, turned around Britain’s largest grocer. There are lessons here for the rest of the industry.

  • Britain's Tesco says no timetable for 'finest' store launch
    Reuters7 days ago

    Britain's Tesco says no timetable for 'finest' store launch

    Tesco, Britain's biggest retailer, said it is considering a trial of an upmarket convenience store under the 'Tesco finest' banner but has not disclosed when or where a pilot will be launched. Tesco hosted a capital markets day for analysts and investors on Tuesday at which it presented a slide flagging an opportunity for a 'Tesco finest' store concept with a 7% operating margin - significantly ahead of the group-wide target of 3.5% to 4%. The premium 'finest' range of grocery products is Tesco's most expensive.

  • Reuters - UK Focus7 days ago

    UPDATE 2-Miners, strong sterling drag down FTSE 100

    Britain's main index slipped on Wednesday, weighed down by miners after Rio Tinto cut its forecast for shipments from an Australian region, while sterling's gains ahead of Bank of England meeting dragged down exporters. The FTSE 100 index dipped 0.5%, its worst fall this month, while the FTSE 250 midcap index was down 0.3%.

  • Britain's Tesco targets further margin improvement
    Reuters8 days ago

    Britain's Tesco targets further margin improvement

    Tesco, Britain's biggest retailer, is targeting expansion of its profit margin beyond that of an existing multi-year recovery plan, it said on Tuesday. Celebrating its 100th anniversary, the group is deep into a turnaround programme under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic downturn in its fortunes. At a Capital Markets Day (CMD) presentation to analysts and investors, Tesco also said its priority for allocating capital was reinvesting in the business, maintaining its debt ratios and growing its dividend.

  • Reuters - UK Focus8 days ago

    UPDATE 2-Britain's Tesco targets further margin improvement

    Tesco, Britain's biggest retailer, is targeting expansion of its profit margin beyond that of an existing multi-year recovery plan, it said on Tuesday. Celebrating its 100th anniversary, the group is deep into a turnaround programme under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic downturn in its fortunes. At a Capital Markets Day (CMD) presentation to analysts and investors, Tesco also said its priority for allocating capital was reinvesting in the business, maintaining its debt ratios and growing its dividend.

  • Tesco targets further margin improvement
    Reuters8 days ago

    Tesco targets further margin improvement

    Tesco, Britain's biggest retailer, is targeting expansion of its profit margin beyond that of an existing multi-year recovery plan, it said on Tuesday. Celebrating its 100th anniversary, the group is deep into a turnaround programme under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic downturn in its fortunes. At a Capital Markets Day (CMD) presentation to analysts and investors, Tesco also said its priority for allocating capital was reinvesting in the business, maintaining its debt ratios and growing its dividend.

  • Reuters - UK Focus8 days ago

    Britain's Tesco sees opportunities for further margin improvement

    Tesco, Britain's biggest retailer, sees opportunities to raise its margins beyond the end of its current recovery plan, it said on Tuesday. In April the group reported a 34% rise in full-year operating profit and said it had met or was about to meet the vast majority of its turnaround goals - including a key margin target of earning between 3.5 and 4 pence of operating profit for every pound customers spend by the end of its 2019-20 financial year. Tesco also said it would be able to enhance cash growth ahead of profit.

  • Reuters - UK Focus8 days ago

    UPDATE 2-FTSE 100 enjoys best day in 4 months after Draghi's "appetizer"

    London's main stock index recorded its best one-day gain in more than four months on Tuesday as a promise of more stimulus if required from European Central Bank (ECB) chief Mario Draghi lifted UK shares across sectors. The FTSE 100 index ended 1.2% higher, after having earlier touched levels not seen in two months, and the FTSE 250 midcap index added 0.8% after Draghi said the central bank would need to ease policy again if inflation did not head back to its target. The ECB's comments came in the midst of a two-day meeting of the U.S. Federal Reserve that money market pricing shows should clear the way to a cut in interest rates by the central bank next month.

  • Forget Tesco shares. I’d buy this FTSE 100 dividend stock yielding 4.5%
    Fool.co.uk12 days ago

    Forget Tesco shares. I’d buy this FTSE 100 dividend stock yielding 4.5%

    Tesco plc (LON: TSCO) shares offer little appeal now, says Edward Sheldon. But he does like the look of this under-the-radar FTSE 100 (INDEXFTSE: UKX) dividend stock.

  • If You Like EPS Growth Then Check Out Tesco (LON:TSCO) Before It's Too Late
    Simply Wall St.12 days ago

    If You Like EPS Growth Then Check Out Tesco (LON:TSCO) Before It's Too Late

    Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

  • Tesco warns October Brexit much more problematic than March
    Reuters13 days ago

    Tesco warns October Brexit much more problematic than March

    Tesco, Britain's biggest retailer, has warned that getting ready for a possible disorderly no-deal Brexit in October would be far more problematic than preparations it made for the original planned departure date in March. Britain had been due to leave the European Union on March 29, but Prime Minister Theresa May was unable to get her divorce deal ratified by parliament and the date is now set for Oct. 31. When Brexit did not happen the retailer sold that stock through and it currently does not have any additional stock.

  • Tesco has no plans to exit central Europe: chairman
    Reuters13 days ago

    Tesco has no plans to exit central Europe: chairman

    British retailer Tesco has no plans to exit its central European operations, Chairman John Allan said on Thursday. At Tesco's annual shareholder meeting an investor asked if the group would still own central European operations by December 2020. "I've been taught never say never because things may change but at the moment we have no plans that the board has discussed or approved to exit central Europe," he said at the meeting held at Tesco's headquarters in Welwyn, north of London, which was webcast.

  • Reuters - UK Focus13 days ago

    Tesco has no plans to exit central Europe - chairman

    British retailer Tesco has no plans to exit its central European operations, Chairman John Allan said on Thursday. At Tesco's annual shareholder meeting an investor asked if the group would still own central European operations by December 2020. "I've been taught never say never because things may change but at the moment we have no plans that the board has discussed or approved to exit central Europe," he said at the meeting held at Tesco's headquarters in Welwyn, north of London, which was webcast.

  • Amazon's Assault on Britain Has Gone Up a Notch
    Bloomberg13 days ago

    Amazon's Assault on Britain Has Gone Up a Notch

    (Bloomberg Opinion) -- The changing nature of food retailing was laid bare on Thursday with lower-than-expected U.K. sales growth at Tesco Plc and Amazon.com Inc. expanding its partnership with the smaller British chain Wm Morrison Supermarkets Plc.Amazon’s agreement with Morrisons, while still fairly small right now, shows the ambitions of the online giant toward the U.K., already one of the world’s most competitive retail sectors. That will strike fear into the hearts of supermarket behemoths such as Tesco, Britain’s grocery leader. Tesco has been trying to bolster its defenses, and a slowdown in growth in the three months to May 25 shouldn’t be too surprising. All retailers face extremely difficult comparisons with the same period last year, when Britain was basking in sunny weather and enjoying a royal wedding. The company’s CEO, Dave Lewis, remains on course to hit his target for an operating margin of 3.5% to 4% by February next year.Still, the first-quarter slowdown doesn’t exactly inspire confidence about what happens once that margin target is reached. The company updates the City next week on how it can find ways to bolster sales and profit. It’s staying tight-lipped for now, but making more of its use of customer data — including through its Clubcard loyalty scheme — might be on the agenda. Lewis has talked before about developing the property around its stores. That could become a bigger part of cash flow, too.Tesco could also work more closely with Booker Group Ltd., a recently acquired food wholesaler. It’s experimenting already with putting cash-and-carry outlets in Tesco stores and introducing dedicated bulk-buy areas, with one eye on becoming Britain’s answer to America’s Costco Wholesale Corp. Wisely, it has also set up a purchasing alliance with Carrefour SA, the French supermarket chain.But as the quarter showed, life isn’t getting any easier for Tesco. Aldi and Lidl, the cutthroat German discount grocers, are still powering ahead in Britain, putting enormous pressure on the traditional giants.That makes Amazon’s advances all the more fraught. Morrisons, the U.K.’s fourth-biggest supermarket group, said on Thursday that it was expanding its super-fast grocery delivery service for Amazon customers. Nine regions in England and Scotland will now offer this, up from four. The aim is for nationwide coverage.The rapid roll-out of the Amazon partnership has been facilitated by another smart move by Morrisons chief executive David Potts, who started his supermarket career on the shop floor. He has negotiated an end to his company’s exclusive relationship with Ocado Group Plc, the specialist online grocer. That has opened the door to closer ties with Amazon.Beset by price-slashing German rivals on one side and savvy online operators on the other, Tesco and its ilk are going to have to work hard to keep food in their investors’ mouths.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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