Sainsbury's-Asda tie-up makes economic sense but risks need considering, says HSBC
HSBC upgraded its rating on Sainsbury’s to ‘hold’ from ‘reduce’ and lifted its target price to 270p from 210p
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 7 of 11
Sainsbury's confirms £15bn Asda merger and dismisses reports stores will close
Sainsbury’s expects its planned merger with Asda to generate £500mln in cost savings
FTSE 100 closes up, but off earlier highs, as Sainsbury-Asda merger news boosts supermarket takeover rumour mill
The pound reverses earlier losses against the euro as the spotlight remains on the Sainsbury-Asda merger
Sainsbury's and Walmart-owned Asda in talks to create UK's biggest supermarket group.
In a statement on Saturday, Sainsbury’s confirmed it is in advanced discussions regarding a combination with Asda and said a further announcement would be made on Monday
UK competition watchdog approves Co-op's £140mln takeover of Nisa
The Co-op offered to buy Nisa in October after rival Sainsbury's shelved plans to acquire the wholesaler
Marmite-gate is over but did Tesco win the battle against Unilever?
Analysts have questioned whether Unilever has lost its pricing power and if its volume growth is sustainable
Archive
FTSE 100 closes modestly higher as Syrian fears recede
After an up-and-down day, the FTSE 100 finished in positive territory after a late surge
Berenberg ups target for Tesco, predicting LFL sales boosts and wholesale growth
The German-based bank said the FTSE 100 group’s own-label initiatives “are the key operational focus for the company in FY 2019E”
Investments and investor services
FTSE 100 closes near flat as Middle East tensions cool
The UK blue-chip benchmark closed 1.20 points, or 0.02% at 7,258..
Tesco: The road to redemption
Tesco was in a mess when Dave Lewis came in three-and-a-half years ago, but the former Unilever man has dragged the retailer through the recovery process and the turnaround looks almost complete
Tesco posts 28% rise in underlying operating profits as turnaround under Dave Lewis continues
The UK’s largest supermarket enjoyed a particularly successful year in its core UK & Ireland market, where like-for-like sales grew 2.2% as sector conditions continue to pick up
Investments and investor services
FTSE 100 closes in red amid trader tensions but Tesco soars
FTSE 100 closed in the red - down around nine points at 7,257
Archive
Tesco's results to be a "positive catalyst" for the share price
Updates are expected from Tesco, ASOS, PageGroup and McCarthy & Stone
Mothercare might close 47 stores as it struggles to survive on the High Street
According to The Sunday Times, the FTSE SmallCap firm could shut around a third of its 143 stores throughout the UK by entering a company voluntary agreement
Archive
Retailers and recruiters in focus as Tesco, ASOS, Hays and PageGroup report
The week ahead includes full-year results from Tesco and Saga, interims from ASOS, WH Smith and McCarthy & Stone, and trading updates from Robert Walters, Hays and PageGroup
Berenberg upgrades Tesco to 'buy' ahead of results; ups Morrisons to 'hold'
The German bank's analysts said they upgraded Tesco to 'buy' from 'hold' due to improving sector conditions, inflation headwinds easing and competitive pressures subsiding
Mothercare brings in former Tesco executive as new CEO
The mother and baby products retailer said the appointment was in line with the company’s transformation plan and its aim to return to growth
Tesco and Morrisons outpace the rest of UK's big four supermarkets, Kantar data reveals
Discount grocers Aldi and Lidl are continuing to disrupt the market with sales outperforming Britain's four largest supermarkets
Investments and investor services
FTSE 100 closes in red as traders still jittery about macro issues
The pound is up 0.36% against the Euro at the time of writing, while it is up 0.07% against the US dollar
Tesco to be transformed by Booker acquisition, in JP Morgan Cazenove's view
"We see Tesco as a visible turnaround with moving parts (eg, new management, access to new markets, synergies, cost savings, legacy assets)," the broker said
Morrisons is not the basket case it once was
Previews of results statements from supermarket chain, Morrisons; insurer behemoth, the Pru, and infrastructure contractor, Balfour Beatty
Tesco gains as Barclays reinstates 'overweight' rating after Booker takeover
Tesco's shares were also lifted by the latest industry data, which showed it was one of the best performing supermarkets over the last three months
FTSE 100 closes 30 points ahead as Dow Jones turns negative
The UK premier index added 0.43% on the day, while FTSE 250 added over 123 points at 19,690.
Tesco, Morrisons and Sainsbury's to benefit from easing inflation, says Jefferies
Jefferies upgraded Tesco and Morrisons to a 'buy' rating but left Sainsbury's at 'hold'
Tesco completes £4bn takeover of Booker after getting shareholder approval last week
Britain's biggest retailer said the cash and shares deal, originally worth £3.7bn when it was first revealed in January 2017, was implemented through a court-sanctioned scheme of arrangement
Archive
FTSE 100 closes higher as US benchmarks stage turnaround
FTSE 100 closed around 46 points higher at 7,115. Little brother FTSE 250 also gained ground - up over 180 points at 19,567.
UK retail shares drop after Toys R Us UK and Maplin enter administration
Toys R US and Maplin have struggled to cope with weakening consumer confidence and rising online competition from the likes of Amazon
Asda reports sales growth for third quarter in a row on strong Christmas trading
The supermarket chain reported a 0.5% increase in like-for-like sales in the fourth quarter
Former Tesco UK boss Matt Davies to join N Brown as chairman
Matt Davies will join N Brown at the start of May, replacing Andrew Higginson
Investments and investor services
FTSE 100 ends in positive territory with precious metals miners leading the way
The blue-chip index closed at 7,214, up 46 points on the day
Tesco shares rally despite record £4bn equal pay lawsuit
Lawyers accuse Tesco of paying its male-dominated warehouse staff more than its predominantly female store workers, even though the value of the work is comparable
FTSE 100 closes strongly higher as markets stabilise
The UK blue chip index closed up 138 at 7,279 - above the day’s peak of 7,255.
Tesco loses market share as Lidl and Aldi outperform again
Like Tesco, big four rivals Asda and Morrison both experienced sales growth of 2.2%, though lost market share for the 12 weeks to 28 January 2018
FTSE 100 closes 2.64% lower as stock chaos continues
FTSE 100 closed 2.64% lower, or 193 points, at 7,141 amid chaotic US trading
Tesco confirms final dividend and says Booker CEO will head retail arm after merger
Tesco confirmed it will pay a final dividend of 2p and expects to report a profit of at least £1.575bn
Morrisons to slash 1,500 management roles and focus on customer service
The move comes after similar action taken by rivals Tesco and Sainsbury
Tesco to cut 800 jobs as it streamlines operations amid tough competition
Tesco said it hopes to improve efficiency with the job cuts, which will affect 1,700 employees
Investments and investor services
Prospex Oil and Gas boosted by new discovery, Petro Matad pinched by US$16mln placing
A look at some of the top risers and fallers in London today.
Investments and investor services
FTSE 100 closes on a high but latest UK stats weigh on retailers
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
M&S simplifies distribution network with new centre as part of overhaul
The new logistic centre will open in Hertfordshire next year
Food inflation helps UK grocers to deliver record Christmas sales but caution remains over general merchandise
Top spot in the Proactive grocer awards goes to Morrisons, while there was only real candidate for the wooden spoon – M&S
Booker sees sales jump 3.8% in final few months of 2017; Tesco shareholders set to vote on takeover in February
The sales are probably the least important bit of news in today’s update, investors will be more interested in the timeline of the Tesco takeover
Tesco slides despite strong food sales driving it to record Christmas
Like Sainsbury’s on Wednesday, Tesco has told investors it enjoyed a record festive season with UK sales rising 2% in the month leading up to Christmas day
FTSE 100 closes at third successive new high but retailers lag
FTSE 100 closed in London around 14 points higher at 7,762
Investments and investor services
How will Tesco and Marks and Spencer follow Morrison Supermarkets and J Sainsbury’s when they report on Thursday?
Tesco, Marks & Spencer and ASOS are next on the agenda.
Eat my shorts: Morrisons gives short sellers a lesson after strong Christmas trading news
According to the website www.shorttracker.co.uk, Morrisons is the seventh-most shorted stock in the UK – meaning traders are betting that the share price is primed to fall - with some 11.5% of its shares on loan, according to publicly decla
Kantar has Tesco as its top Christmas cracker, but market reckons it could still be a festive turkey
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
Wm Morrison set to start Christmas trading supermarket sweep
Day ahead includes trading updates from food retailer Wm Morrison Supermarkets PLC, housebuilder Perimmon PLC, and staffing group Robert Walters PLC
FTSE 100 closes in red as Wall Street comes off recent highs
London's top tier index closed down nearly 28 points at 7,696
Aldi's 2017 sales top £10bn for the first time after record Christmas
Aldi plans to continue its expansion in the UK after opening 76 stores last year
Brexit could hamper turnaround of Carpetright and other UK retailers, says Deutsche Bank
Deutsche Bank downgraded its rating on Carpetright but upgraded ASOS as it took a look at the European non-food retail sector
FTSE 100 and FTSE 250 set new record highs on first trading day after Christmas
For the 29th year in the past 34, the blue chips have closed up on the first trading day after Christmas...
Tesco and Booker given final clearance by CMA for £3.7bn merger
Tesco expects its merger with Booker to be completed in March
Investments and investor services
FTSE 100 closes in red; IMF cuts UK growth forecasts
The FTSE 100 index closed down 18.87 points at 7,525 on a day of light volumes
Surprise trading update is just the job for Robert Walters
The trading update was short and sweet. Liberum responded by increasing its target price.
Grocers bagged as Goldman Sachs ups ratings for Tesco and Wm Morrison's
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 closes in red as big miners weigh
FTSE 100 closed around 11 points down, while the FTSE 250 dropped almost 65 points
The Co-op lands supply contract with Costcutter as supermarkets respond to P&H collapse
Supermarkets have kicked off contingency plans to stock their shelves after P&H, which delivers food, drink and cigarettes, went into administration
Just Eat set to be promoted to FTSE 100 just three years after listing, but Merlin looks set to get the boot
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
Black Friday sales surge in US as Amazon, Target, Wal-Mart extend deals
Retailers have been extending sales across the week to maximise hype and boost sales
FTSE 100 closes higher as pound firms; Shire top riser
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's £3.7bn takeover bid for Booker provisionally cleared by CMA
Tesco expects the merger with Booker to be completed in early 2018
Sainsbury's on the back foot as it lowers interim dividend and posts profit decline
Sainsbury expects to deliver at least £500mln in cost savings over three years from fiscal year 2018/19
Credit Suisse says there is now a 95% chance that regulators will approve Tesco-Booker deal
“[The merger] is large enough to matter and would provide a credible path for Tesco to work through its key problems”
Sainsbury's to slash 2,000 jobs to cut costs as it competes with Aldi and Lidl
Sainsbury's is targeting cost savings of £500mln amid a supermarket price war
Morrisons does best of the big four as hard discounters continue to gain share
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
Investments and investor services
FTSE 100 ends in the red amid Brexit jitters and rise in UK inflation
The FTSE 100 index closed down 10.8 at 7,516 on the day
Lidl UK to open new warehouse in Peterborough as it continues rapid expansion
Lidl is to open its 15th and largest distribution centre in the UK, creating 500 jobs
Booker hopeful £3.7bn swoop by Tesco will be tied up early next year
The cash and carry group updated on the deal alongside interim results
FTSE 100 closes at record high bolstered by weak pound on Brexit talks 'stalemate'
In a joint news conference held later in the day, Barnier admitted that some progress had been achieved on citizens' rights and Ireland's common travel area
M&S and Tesco ready meals supplier Bakkavor to float on London Stock Exchange
Bakkavor will float about 25% of its capital on the LSE in a deal that could value it at up to £1.5bn
Archive
Sky in bid limbo but revenues still growing; Trinity Mirror update to be another media focus in week ahead
The Week Ahead includes trading updates from media firms Sky PLC and Trinity Mirror PLC, as well as news from defence group BAE Systems PLC, and minutes from the FOMC meeting
UBS raises target price for Tesco, thinks UK margin progression “is fine in context of a major price repositioning”
The Swiss bank’s analysts increased their target for Tesco to 270p, up from 260p previously, and reiterated a ‘buy’ rating on the stock
FTSE 100 closes firmly in positive territory as sterling slides
The FTSE 100 rose to within a couple of points of 7,500 after US markets opened higher
Every little fails to help: Tesco shares reverse as City looks beyond surprise dividend resumption
Mike van Dulken, head of research at Accendo Markets, commented: “A return of dividends has been long awaited as evidence of management faith in the turnaround and recovery
Tesco resumes dividends for first time since 2014/15 accounting scandal, after strong first half profit growth
The FTSE 100-listed firm reported a 27.3% jump in operating profit before one off items to £759mln for the six months to August 31, up from £596mln a year earlier and beating the consensus forecasts for around £700mln
FTSE 100 barely changed after PM's speech; Centrica slides
Not much happening among the blue-chips but Image Scan and Future were among the big movers in the small caps sector
Archive
Tesco set for 'upbeat interims', but Topps Tiles' trading update expected to be drab
The day ahead includes first half numbers from supermaket giant Tesco PLC and a fourth quarter trading update from struggling tiles retailer Topps Tiles PLC
Sainsbury's the only 'buy' as Berenberg sizes up the winners and losers in the UK grocery sector
The German bank warned of: “Slow market growth, market share losses in the supermarket channel and intensifying competitive and cost pressures will continue to restrict growth and margin expansion for Tesco, Sainsbury and Morrison”
FTSE 100 closes higher, boosted by weak sterling and Ferguson
The pound's weakness is the source of the Footsie's late strength
Archive
Healthier options expected to help drive growth at food-on-the-go specialist Greggs
Day ahead includes a trading update from food-on-the-go specialist Greggs PLC, and first half results from Ferguson PLC - the plumbing supplies group formerly known as Wolseley
Credit Suisse says Tesco is “most at risk” from Aldi and Lidl’s continued growth
Analyst Stewart McGuire says only 65% of Tesco stores have an Aldi or Lidl within two kilometres of them - the lowest percentage of the 'Big Four'
FTSE 100 closes firmly higher as weak pound gives it a boost
FTSE 100 closed over 66 points higher at 7,438 with budget carrier easyJet the top flyer
Archive
Tesco and Greggs to give a taste of high street conditions; hurricanes could have blown away US jobs
Week ahead to include first half results from supermarkets giant Tesco PLC, an update from high bakery chain Greggs PLC (LON:GRG), and the latest US jobs data
More price-cutting sees Aldi UK’s profits fall for third straight year
Aldi has been forced to respond as the so-called ‘big four’ fight back with price reductions of their own
UK supermarkets sales up by over 3% for sixth month, with Tesco again leading the ‘Big Four’
Kantar Worldpanel said its latest grocery market share figures showed an overall increase of 3.6% in sales for the 12 weeks to 10 September 2017, compared with the same period last year
Booker says Tesco takeover competition review is progressing as it reports quarterly sales growth
Booker's like-for-like sales in the 12 weeks to 8 September rose 1.3%, boosted by a strong performance in catering and retail supply.
Archive
Bank of England meeting key on retail Thursday, with updates due from Next, Morrison's, and Booker
Day ahead includes Bank of England Monetary policy meeting, UK retail sales data, updates from Next PLC, William Morrison Supermarkets PLC, and Booker PLC
Tesco 2014 accounting scandal trial adjourned until September 25 for legal reasons
Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was its UK finance director, and John Scouler, who was the UK food commercial director, are all charged with one count of fraud by abuse of position and one count of
UBS raises Tesco target price on expectations for strong margin recovery, Booker merger prospects
The Swiss bank’s analysts said: “We expect Tesco to hit the upper end of its 3.5-4.0% mid-term EBIT margin guidance and, moreover, to do so in a healthy way”
FTSE 100 finishes in debit as Fed chair Janet Yellen stays mum on policy direction
The FTSE dipped 6 points to 7,401 points after Janet Yellen left monetary policy out of her Jackson Hole speech
Tesco opens £85mln compensation scheme for investors affected by 2014 accounting scandal
Thousands of investors sued Tesco claiming that they had lost millions after buying shares based on false and misleading accounts
Lidl now UK’s seventh biggest supermarket, but ‘Big Four’ led by Tesco also seeing sales growth
The wet weather didn’t deter shoppers, with overall UK supermarket sales rising 4% year-on-year
Sainsbury’s to axe more than 1,000 jobs as part of latest £500mln cost-cutting drive
The latest efficiency drive follows on from similar measures brought in last November and back in 2015
Asda's 2016 profits and sales dented by the rise of discounters Aldi and Lidl
Asda reported an 11.5% decline in full-year profits as it tackles mounting competition
Archive
Morrison's and McColl's put Tesco under the spotlight with 'win-win' combination
In a £1bn deal, won against five other tenders, Morrison's will supply Safeway products and other national brands to 1,300 McColl's stores and 350 newsagents
Investments and investor services
Patience still a virtue for Aurora Investment Trust
Aurora is now worth £70mln, from £15mln, when Phoenix was appointed in January 2016
Sainsbury's planned takeover of Nisa 'not conditional on retaining McColl's contract'
McColl's has fallen prey to speculation it could become a takeover target as UK supermarkets try to get a slice of the convenience market