TSCDF - Tesco PLC

Other OTC - Other OTC Delayed Price. Currency in USD
2.6000
0.0000 (0.00%)
At close: 12:42PM EDT
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Previous Close2.6000
Open2.6030
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.6000 - 2.6000
52 Week Range2.3200 - 3.3400
Volume7,237
Avg. Volume12,428
Market Cap25.768B
Beta (3Y Monthly)0.75
PE Ratio (TTM)17.69
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.07 (2.74%)
Ex-Dividend Date2019-05-16
1y Target EstN/A
Trade prices are not sourced from all markets
  • Tesco to cut 4,500 jobs, reducing opening hours
    MarketWatch

    Tesco to cut 4,500 jobs, reducing opening hours

    The British supermarket giant on Monday announced plans to cut jobs and scale back operations at its smaller convenience stores, citing increased cost pressures.

  • Bloomberg

    Tesco to Cut 4,500 Jobs as Grocer Streamlines Metro Stores

    (Bloomberg) -- Tesco Plc plans to cut 4,500 jobs as the supermarket operator slims down hundreds of stores and adds to the mounting toll on employment in U.K. shopping districts.Britain’s biggest retailer said it will streamline operations at its 153 medium-size Metro stores in city centers, while reducing opening hours at 134 Express convenience stores.The moves announced Monday come on top of previous cuts at Tesco’s larger supermarkets, including closing fresh-food counters. Those changes were expected to affect as many as 9,000 of the company’s more than 300,000 workers.The new round of cuts comes as price competition among U.K. supermarkets intensifies, with discounters Lidl and Aldi gaining market share, and the threat of a disorderly Brexit hitting the value of the pound and raising the cost of imported food.“Given investors’ focus on margins in a market characterized by its competitiveness, we view these measures as a positive to help streamline the group cost base,” Morgan Stanley analyst Maria-Laura Adurno said in a note.Tesco shares traded 1.1% lower in London on Monday afternoon.Retail CrisisWhile the U.K.’s labor market remains tight, the Tesco cuts will add to the job losses in the retail industry as consumers increasingly shop online. Employment in the sector fell 2.3% in the second quarter from a year earlier, costing 72,000 jobs, according to the British Retail Consortium.The company said it’s making the changes at Metro stores because many customers are using them as convenience stores for everyday shopping, rather than making larger weekly purchases. That necessitates more flexible working and quicker ways of filling shelves, Tesco said in a statement, with fewer products stored in back rooms and more groceries going straight to the shop floor.Stock routines will also be simplified at Express stores, where hours will be reduced slightly during less busy periods, the company said.Tesco Chief Executive Officer Dave Lewis has pared costs aggressively since taking over in 2014. In June, Tesco’s credit rating was raised to investment grade by Moody’s Investors Service, which cited profitability gains and debt reduction.(Updates with BRC jobs data in seventh paragraph)\--With assistance from Lisa Pham.To contact the reporter on this story: Eric Pfanner in London at epfanner1@bloomberg.netTo contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, John LauermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Tesco to cut 4,500 jobs in Metro restructuring
    Reuters

    Tesco to cut 4,500 jobs in Metro restructuring

    British supermarket chain Tesco is cutting about 4,500 jobs from its Metro stores to improve the efficiency of a format that is increasingly used by customers daily rather than for a traditional weekly shop. Tesco, both the biggest retailer and largest private sector employer in Britain, is restructuring operations in response to changing consumer habits, driven by the rise of online shopping and increased competition from discounters Aldi and Lidl. The company said the changes in its 153 Metro stores - medium-sized shops found on Britain's shopping street and by railway stations - would allow it to shift stock more quickly to the shelves and cut the time it was held in the store room.

  • Reuters

    UPDATE 2-Tesco to cut 4,500 jobs in Metro restructuring

    British supermarket chain Tesco is cutting about 4,500 jobs from its Metro stores to improve the efficiency of a format that is increasingly used by customers daily rather than for a traditional weekly shop. Tesco, both the biggest retailer and largest private sector employer in Britain, is restructuring operations in response to changing consumer habits, driven by the rise of online shopping and increased competition from discounters Aldi and Lidl. The company said the changes in its 153 Metro stores - medium-sized shops found on Britain's shopping street and by railway stations - would allow it to shift stock more quickly to the shelves and cut the time it was held in the store room.

  • Barrons.com

    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
    Reuters

    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.

  • Britain's Tesco targets further margin improvement
    Reuters

    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 has no plans to exit central Europe: chairman
    Reuters

    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.

  • Tesco CEO not ready to check out in tough UK retail climate
    Reuters

    Tesco CEO not ready to check out in tough UK retail climate

    The boss of Tesco said he had unfinished business at Britain's biggest retailer after its quarterly sales growth slowed in a subdued grocery market under a cloud from poor early summer weather. Celebrating its 100th anniversary, Tesco is deep into a recovery plan under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic downturn in its fortunes. "I'm aware of all the chatter," he told reporters after Tesco published a first quarter trading update before its annual shareholders' meeting.

  • Reuters

    Britain's 'Big Four' grocers lose market share - Kantar

    Britain's "Big Four" supermarkets all lost market share in the 12 weeks to May 19, market research company Kantar said, as like-for-like sales flatlined at leader Tesco and fell at Sainsbury's, Asda and Morrisons. Tesco's share fell to 27.3% from 27.7% a year ago, while Sainsbury's and Asda had equal shares of 15.2%, after sales fell by 1.7% and 0.2% respectively, Kantar said.

  • Reuters

    Britain's 'Big Four' grocers lose market share-Kantar

    Britain's "Big Four" supermarkets all lost market share in the 12 weeks to May 19, market research company Kantar said, as like-for-like sales flatlined at leader Tesco and fell at Sainsbury's, Asda and Morrisons. Tesco's share fell to 27.3% from 27.7% a year ago, while Sainsbury's and Asda had equal shares of 15.2%, after sales fell by 1.7% and 0.2% respectively, Kantar said.

  • Reuters

    UK's Tesco to sell $4.7 billion mortgage book as competition bites

    Britain's biggest retailer Tesco will stop mortgage lending at its banking business because of tough market conditions, it said on Tuesday, as rival lender Nationwide Building Society reported a drop in profit margins. Tesco Bank, which serves more than 23,000 mortgage customers with total balances of 3.7 billion pounds ($4.7 billion), said it would stop new lending and seek to sell its existing portfolio of home loans. "In recent years, challenging market conditions have limited profitable growth opportunities," said Tesco Bank Chief Executive Gerry Mallon.

  • Bestinfond's Top 5 Buys of the 1st Quarter
    GuruFocus.com

    Bestinfond's Top 5 Buys of the 1st Quarter

    Spanish fund formerly run by Paramés seeks investments in the US and UK