Tesco receives green light from Thai authorities for Asian business sale
The deal will trigger a potential £5bn return of capital to shareholders
Company
Tesco PLC
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.
1014 stories · page 5 of 11
Which companies will be hit hardest as England enters lockdown this week?
Non-essential businesses will be forced to close for a month until December 2
Tesco under fire in Wales after deeming period products non-essential
The supermarket blamed it on the government's measures while the latter said Tesco was wrong
Look past Tesco's window dressing and its pandemic profits are clear
The supermarket giant put no workers on furlough but along with the rest of the retail industry is receiving a 12-month business rates holiday
Tesco sales and profits surge as supermarket demand blots out coronavirus costs
While COVID-19 led to £533mln of extra UK costs, much higher sales volumes and the government’s business rates relief meant underlying retail profit still rose
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FTSE 100 stays flat; US markets snap back after Tuesday afternoon selloff
The London blue-chip index did not move before close and sat at 5,949
New Tesco chief executive Ken Murphy to oversee retail giant’s results for first time
For the second quarter, analysts at UBS forecast Tesco reporting 6.3% growth in UK retail like-for-like sales, excluding fuel and the Booker wholesale arm
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FTSE 100 closes in the green as housebuilders rise and sentiment is boosted on US stimulus package hopes
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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New bosses at Tesco, Imperial Brands, GVC Holdings under spotlight in coming week
Also worth watching out for are updates from CMC Markets, Restaurant Group and Robert Walters
Tesco left in decent order for new boss but coronavirus crisis, Brexit loom
Incoming chief executive Ken Murphy is replacing Dave Lewis, who is widely regarded as the man who turned the grocer's around
Tesco joins Morrisons in rationing popular items
Customers can only buy flour, dried pasta, toilet roll, baby wipes and anti-bacterial wipes in three
Tesco is keeping discounters at bay, says UBS
The upcoming results will be the first under new chief executive Ken Murphy
Tesco adds 16,000 online jobs as orders soar
The supermarket giant said it was seeing exceptional growth online
Tesco and Sainsbury's best positioned as online grocery demand set to remain high
Analysts at UBS say their research indicates the higher level of online grocery use are “likely here to stay”
Tesco launches 'milkman' pilot scheme for reusable plastic packaging
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
Tesco shareholders reject director pay report after CEO's bonus mushrooms
It had been expected that the executive pay report was going to be approved by a small margin
Tesco retail profits to be in line with last year despite lockdown sales spike
The grocer expects extra charges of £840mln following safety and payroll adjustments during the pandemic
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FTSE 100 closes in positive territory but gives up gains as US stocks sink on health fears
Britain's index of leading shares closed the day up just 12 points, or 0.20%, at 6,159.
Tesco and Marston's to show cheese and chalk effects from coronavirus quarter
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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FTSE 100 closes first day of week lower as health fears resurface
Britain's blue chip benchmark finished down almost 48 points, or 0.76%, at 6,244 on Monday
Tesco faces investor revolt over CEO pay
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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Tesco and Royal Mail among big guns reporting in coming week
Also on the corporate earnings calendar are car retail website Auto Trader and brewer nd pubs operator Marston's
Tesco to face large book loss from Poland retreat
Last year the stores reported an underlying operating loss of £107mln on sales of £974mln
Tesco board to get a new look as chief financial officer announces departure months after CEO
The supermarket chain said Alan Stewart played an “instrumental” role in the turnaround of the company
Buy Tesco and Sainsbury’s over Ocado, says UBS
“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”
Tesco: should it pay a dividend when it expects government support?
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?
Tesco downgraded as analysts discover coronavirus “more of a headache” for supermarkets
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
Tesco warns coronavirus shopping boost will be "largely offset" by extra costs
The FTSE 100 grocery group will pay a final dividend for last year and expects to pay £5bn more to shareholders once it completes the sale of its last Asian businesses
Tesco and ASOS the big hitters for Wednesday results schedule
The grocer has been one of the few companies seeing improvement amid the coronavirus pandemic, as consumers have been stocking up their cupboards and giving up on dinners out
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FTSE 100 posts triple-digit gain as return of optimism sweeps through markets
Britain's blue-chip benchmark finished over 166 points, or 3.08% higher, at 5,582
Ex-Sainsbury's CEO Justin King: Coronavirus driving structural shift for grocery sector
The emergence of supermarkets as a previously underestimated core industry in the coronavirus crisis has not gone unnoticed by some investors, but financial markets are still painting with a broad red brush
Kantar Wordpanel says "accidental stockpilers" driving supermarket shelf shortages
Customers are choosing to shop more often, exacerbating the impact of slightly larger baskets, with an additional 15 million supermarket visits made in the week ending 17 March, compared to a month earlier
Tesco’s Asia sale indicates transition to “cash compounding stock”, says analyst
While analysts said the sale represented “a good deal”, there were warnings elsewhere about the newly powerful Thai regulator
Tesco promises £5bn dividend after agreeing sale of last Asian businesses
Thai conglomerate CP Group has agreed to buy Tesco Lotus for US$10.3bn (£7.8bn)
Tesco sells out of Chinese joint venture for net £275mln; plans UK job cuts in bakery overhaul
The supermarket giant has been retreating from Asia for some years.
Tesco gets slapped wrist for breaching competition law
The supermarket giant has been trying to prevent landlords from letting property to other supermarkets near its stores
Tesco ekes a few more weeks out of Lewis
The FTSE 100 grocer had originally pencilled in a summer farewell party
Tesco to drop plastic wrapping on multi-packs as part of sustainability drive
The supermarket claimed it is the first major retailer to take action in this way.
Kepler upgrades Tesco and Sainsbury on consumer election boost
“Should consumer confidence continue to improve, this would prove to be a strong support for an improvement in private consumption”
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One less Dave and one less Willie: Departure of Tesco and IAG bosses raises issue of diversity at the top
Despite yet more FTSE 100 CEOs calling time in the board room, Britain's biggest companies continue to be dominated by men, with women heading up only six blue-chip firms
Heavyweight Tesco debunks predictions and dumps rivals in the gutter
Analysts at Bernstein hailed the “material outperformance relative to peers” and the contradiction to indications from Kantar’s industry data that implied Sainsbury was ahead of Tesco
Tesco's Christmas sales fall less than expected
The grocer’s UK like-for-like sales fell 0.4% in the third quarter but rose 0.1% in the six-week festive period
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FTSE 100 closes ahead as investors focus on trade not war
The UK's blue-chip benchmark on Thursday finished ahead by around 23 points at 7,598
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Tesco and Marks & Spencer set for market spotlight as investors continue to gauge Christmas retail results
Whether or not there are any more acquisition stories, food retail will be very much in focus on Thursday as Tesco and M&S release Christmas trading updates.
Grocery spend hits record level in final quarter of 2019, but retailers suffer grim Christmas as sales growth slumps to four-year low
The latest data from Kantar showed that UK shoppers tightened their purse strings over the festive period
Tesco’s Asia selloff could lead to a big payday for shareholders
While speculation swirls around whether Britain's largest supermarket will cash out of Asia, such a move could generate enough financial perks to keep investors sweet
Tesco weighs potential £7bn sale of Asia grocery chain
Asia generated £4.9bn of sales and £286mln of operating profit in the past financial year
Tesco vows to remove 1bn pieces of plastic from own-brand products
Big supermarket chains produce more than 800,000 tonnes of plastic packaging waste every year
Former Treasury boss John Kingman set to head up Tesco Bank
Kingman was previously mooted as a possible next governor of the Bank of England, but has said that he does not want the role
Tesco boss Dave Lewis announces shock departure
Grocer reports 0.4% decline in half-year like-for-like sales, compared to the 0.2% LFL growth seen in the first quarter
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FTSE 100 posts biggest drop for over 3 years as global growth, trade wars, Brexit, Trump worries create perfect storm
The UK blue-chip benchmark tanked by 3.2% on the day, or 237.78 points, to close out at 7,122.54
Tesco interims top of the list for Wednesday
Investors in Britain's largest supermarket will be focusing in on whether the firm has managed to beat its target of increasing operating margins to 3.5%-4%
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FTSE 100 closes modestly lower as sterling ticks higher; US stocks recover from Friday drop
At the close, the UK blue chip index was off 18.00 points at 7,408.21, above the session low of 7,402.20 but well below the peak of 7,439.62
Aldi to open new UK store every week as profits hit by price cuts and expansion
Aldi and fellow German discounter Lidl have been chipping away at the market share of the UK’s big four as they draw customers in with low prices and open new stores.
UK grocery sales fall for first time in three years as alcohol and ice cream sales plunge
Last year’s heatwave meant us Brits forked out more on things such as beers, cider and ice cream, but with the weather much duller this summer, grocery sales have dropped
Morgan Stanley turns bearish on global stocks as 'downside risks' build up
Strategists at the investment bank downgraded its rating on global equities as it saw a "poor" risk/reward outlook for the next three months
Sainsbury’s boss Mike Coupe set to face a frosty reception at tomorrow’s AGM
The troubled CEO looks set for a pasting on Thursday as questions over strategy and executive pay are likely to bubble over
US investor Fortress frontrunner in Majestic Wine bidding war, media reports
The investment group, owned by Japan's Softbank, has also apparently been courting wine retailing bigwig Dan Jago to run the stores following the sale
Tesco, Sainsbury's, Asda and Morrisons lose more market share to Aldi and Lidl
Kantar said a wet start to the summer, compared to last year’s heatwave, has dented supermarket sales
Why Tesco’s Finest* convenience stores make perfect sense
Aldi and Lidl have been the runaway success stories in the supermarket sector in recent years, but the likes of Waitrose and Fortnum & Mason have more than held their own
SDCL Energy Efficiency Income Trust inks deals with Tesco for portfolio of rooftop solar projects
The trust said Tesco will enter a power purchase agreement for each individual site, with SDCL to be responsible for installing, operating, and maintaining each project
Tesco says it aims to improve margins and enhance cash growth
In a statement issued for its Capital Markets Day, Tesco said it has “further cost reduction and mix opportunities that allow us to offset inflation, improve our customer offer and/or increase margin”
Tesco sales growth slows without hot weather and royal wedding
Total sales, excluding fuel, rose 0.4% to £13.9bn with like-for-like sales up 0.2% in the 13 weeks to May 25.
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FTSE 100 closes near flat as global markets appear uninspired
Footsie closed up nearly a point at 7,368, while mid-cap cousin FTSE 250 shed over 77 points at 19,172
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Tesco’s first quarter set to face tough comparisons
Tesco, DS Smith and PZ Cussons are the standout names in Thursday's diary.
Tesco makes significant headway against sceptical market, says UBS
The Swiss bank repeated a ‘buy’ recommendation on the stock and raised its target price to 315p from 305p ahead of the supermarket group's first-quarter trading update on Thursday
Investments and investor services
FTSE 100 closes higher as trade tensions ease
The UK's index of leading shares finished the first day of the trading week around 46 points higher at 7,378
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Tesco to provide the nibbles as the markets continue to eye US trade and Tory leadership battles
Aide from Tesco's latest update, a number of lesser-known blue chip firms will also report in the Week Ahead including British American Tobacco, Ferguson, DS Smith, and Halma
Tesco has target price cut by Deutsche Bank after Kantar data
Deutsche Bank kept a ‘buy’ rating on Tesco but lowered its target price to 295p from 300p
Sainsbury's and Asda become joint second biggest UK supermarkets, Kantar reveals
Kantar Worldpanel said Sainsbury’s and Asda both lost market share in the 12 weeks to May 19.
Archive
Netcall among Wednesday’s strugglers as its by NHS purchasing delays
Here's Wednesday's look at the major stock market movers
Frontier IP’s Fieldwork Robotics sees success in initial trials of fruit-picking robot
Further trials for the system are scheduled for later this year, with a commercial system expected to be manufactured in 2020
Tesco Bank and Nationwide highlight impact of competitive pressures on wider banking sector
First-quarter results from Lloyds, Barclays, Royal Bank of Scotland and HSBC all revealed a drop in net interest margins - a key profit measure for banks.
Tesco explores sale of bank's mortgage portfolio and halts lending to new customers
Tesco Bank has ceased new mortgage lending while it explores options to sell the mortgage portfolio
Will M&S be too late to the online party? Liberum thinks so…
M&S will have to deal with fierce competition: Waitrose recently unveiled ambitious plans to treble the size of its online business, while Tesco, Sainsbury and Amazon.com have been investing into their delivery propositions for a while
Capital & Regional shares gain as its shopping centres avoid Debenhams store closures
"Clarity around Debenhams is welcome news, enabling us to plan our capex and remerchandising proactively,” said Capital & Regional chief executive Lawrence Hutchings
Investments and investor services
FTSE 100 closes firmly higher as Wall Street shares head north; sterling slides
The UK benchmark index closed over 56 points higher, at 7,353, aided by the fall in the pound
Archive
Burberry and Thomas Cook in the spotlight; ex-divs to take 26 points off the FTSE 100
Numbers from Countryside Properties, National Grid, and Wincanton will also be among Thursday's highlights.
Veganism proves to be tidy earner for food firms as others look to exploit ‘meat-free’ momentum
Vegan sausage rolls have proved a boon to established food chains like Greggs, while investors are starting to pour money into the next generation of meat-free products
Morrisons edges lower as first-quarter growth misses forecasts
Like-for-like sales growth of just 0.2% in its stores was below the 0.5% analysts had expected, but Morrisons’ boss was relatively pleased with the “robust” performance given the drop-off in consumer confidence
Purplebricks isn’t the first UK company to fail to crack overseas markets, and it won’t be the last
Overseas markets, particularly the US, have proved tough for UK companies to crack, just ask Tesco, Next, Sainsbury’s and many others…
Sainsbury's badly lags rivals, adding to woes ahead of results
Latest supermarket sector figures showed growth for all big names except Sainsbury's
Tesco debts up and earnings down under new accounting rules
The new IFRS 16 accounting standard will be fully introduced in 2019
Company doctors: the men and women in charge of getting businesses back on their feet
Sometimes businesses lack the self-awareness to diagnose their own problems, so they have to bring in a company doctor to do it for them
Tesco will continue to see 'better sales dynamic' than other big four, says Deutsche Bank
Deutsche Bank said it sees more upside to Tesco’s shares as “momentum should remain strong, with a better sales dynamic than the other Big 4 in the UK” and further margin improvement
Morrisons and Sainsbury’s take a hit from Tesco’s iffy finish
Tesco’s dividend hike offset what looked like a difficult end to the year for the supermarket giant, but there was no such hiding for rivals Sainsbury’s and Morrisons
Tesco doubles annual dividend as profits surge by a third
Tesco has worked hard to slash costs which helped to boost profits last year, while the bottom-line also got a healthy kick from Booker
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FTSE 100 ends flat as the market awaits the outcome of EU leaders emergency meeting on Brexit
The raft of macro-economic news from the US, the UK and ECB policy failed to cheer the FTSE 100 as the focus turned to the meeting in Brussels
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Tesco results to dominate company news on ‘Super Wednesday’
With the latest data showing the supermarket losing market share to discounters, investors will be hoping for news on how the group plans to maintain its position at the top
Investments and investor services
FTSE 100 just about manages to close in positive territory as crude oil hits 5-month high and Brexit talks continue to take centre-stage
Brent crude hit a five-month high, led by OPEC's supply cut and geopolitical tensions
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Retailers Tesco and ASOS to provide the main corporate excitement in coming week
Also on the retail front, WH Smith and Dunelm will issue updates as well in the Week Ahead, while on the macro front an ECB rate decision and US FOMC meeting minutes are also due
Asda overtakes Sainsbury's as UK's second largest supermarket ahead of CMA's merger decision
Sainsbury’s, which is in the process of trying to merge with Asda, lost market share as sales declined over the period
Are tobacco and supermarket stocks not the “safe harbour” investments they once were?
Most safe harbour stocks have been confined to a select group of market sectors that include tobacco and food retailers, although enthusiasm seems to be waning for these once dependable stocks
Frontier IP’s Fieldwork Robotics wins funding to accelerate development of fruit-picking robot
Frontier, which holds a 27.5% stake in Fieldwork, said the funding would put towards a project to create a multi-armed robot prototype
Morrison's shares ease as Bernstein downgrades to ‘market-perform’ on valuation grounds
In a note to clients, Bernstein’s analysts pointed out that although it believes Morrison’s is "a great income stock", they see a fairer balance between risks and opportunities
Sainsbury's-Asda merger to put pressure on Bakkavor and other suppliers, says Barclays
Barclays said it is concerned about the “increasingly competitive” UK ready-meals market, in a note on the European food ingredients sector
Britvic names new chief financial officer to replace Matthew Dunn who is leaving to join ASOS
The FTSE 250-listed group said Joanne Wilson is currently chief financial officer at customer data science company, dunnhumby, which is owned by Tesco PLC
Why you should wait to tuck into Greggs shares
Greggs shares have almost doubled since last summer, driven by a strong guidance upgrades, but that rapid rise has left it looking a little expensive to some City analysts
Sainsbury's continues to trail behind rivals in latest industry data
Sainsbury's was the only big four supermarkets to post a sales decline
M&S ready meal supplier Bakkavor predicts weaker margins in first half
Analysts at Peel Hunt repeated a ‘buy’ rating on the stock but cut its target price to 190p from 200p