|Bid||209.90 x 215000|
|Ask||210.10 x 175000|
|Day's Range||209.10 - 216.00|
|52 Week Range||175.20 - 266.80|
|Beta (3Y Monthly)||0.59|
|PE Ratio (TTM)||18.74|
|Forward Dividend & Yield||0.04 (1.68%)|
|1y Target Est||267.93|
LONDON (Reuters) - Britain's three biggest grocers, Tesco (TSCO.L), Sainsbury's (SBRY.L) and Asda (WMT.N), lost market share in the 12 weeks to Oct 7 as consumers increasingly shopped at discount supermarkets ...
U.K. grocers’ sales continued to grow in the 12 weeks to October 7. but the rate of growth slowed slightly after a hot summer.
Beiersdorf (BEIG.DE), the maker of Nivea skin creams, is promoting current deputy chief executive Stefan De Loecker to the top job from Jan. 1, with a mandate to make the company more digitally savvy and expand internationally. At that time, De Loecker, a 51-year-old from Belgium, was named deputy CEO and put in charge of Beiersdorf's strategy. De Loecker joined the company in 2012 as senior vice president Near East from British retailer Tesco (TSCO.L) , although he spent most of his career at food company Nestle (NESN.S), including in Switzerland, Germany and Russia.
Two former senior executives of Tesco (TSCO.L) abused their positions to encourage practices that resulted in a 250 million pounds overstatement of expected profits and misled the stock market, a prosecutor told a London court on Monday. With a motive to support the share price of Britain's biggest retailer, secure huge compensation packages and retain their jobs, the two executives "pressurised or coerced" unidentified subordinates into compliance, lead prosecutor Sasha Wass told London's Southwark Crown Court. Christopher Bush, 52, who was managing director of Tesco UK, and John Scouler, 50, who was UK food commercial director, both deny charges of fraud by abuse of position and false accounting.
Two former senior executives of Tesco (TSCO.L) abused their positions to encourage practices that resulted in a 250 million pounds ($327 million) overstatement of expected profits and misled the stock market, a prosecutor told a London court on Monday. With a motive to support the share price of Britain's biggest retailer, secure huge compensation packages and retain their jobs, the two executives "pressurized or coerced" unidentified subordinates into compliance, lead prosecutor Sasha Wass told London's Southwark Crown Court. Christopher Bush, 52, who was managing director of Tesco UK, and John Scouler, 50, who was UK food commercial director, both deny charges of fraud by abuse of position and false accounting.
Oil majors dragged Britain's top share index down on Monday as political risk gripped Europe and caution set in again on Brexit, weighing on sterling. The FTSE 100 (.FTSE) fell 1.2 percent to its lowest close since April. Stocks across Europe also fell led by Italy's FTSE MIB after stern words from the European Union on Rome's budget plans sent bond yields to new highs.
George Wright will join M&S, which last year began a five-year programme of store closures and relocations as part of moves to make its food business more competitive, in 2019. The British retailer took on retail veteran Archie Norman as chairman just before it began its latest attempt at a turnaround after more than a decade of failed reinventions. M&S said Wright will be responsible for trading and supply chain operations at its food division, while April Preston will be re-joining as a product development director in November.
Chief executives often claim they are focused on higher matters than day-to-day share price moves. Restoring Tesco’s core UK business to growth has mostly been driven by his initiatives in stores, such as cutting prices and putting more staff on the shop floor to reduce queues. By the time Mr Lewis was rushed into the boardroom in September 2014, Tesco was a business in freefall.
Casino is doing away with cashiers in a new shop near the Champs Elysees in a French version of the Amazon Go checkout-free convenience stores in the United States. Like other retailers, Casino is trying to adapt to the challenges of online shopping and more such stores could be on the cards if the format is successful, said Tina Schuler, who heads its Geant, Leader Price and Casino supermarkets. As well as the threat posed by online competitors, Casino is battling to ease investor concerns over its debt levels and intense competition within France, which have sent its shares down by some 30 percent since the start of the year.
’s profit shortfall from its operations in Thailand can be recovered in fiscal 2020, says Jefferies. Tesco missed half-year profit expectations as a result of issues within its overseas operations. Profit in Tesco’s Asian business fell 29% as sales were hit by Thailand’s government policy of issuing welfare cards that can’t be redeemed in modern retail chains.
The UK's top share index rose on Wednesday as the pound held its ground after an appeal for party unity from Prime Minister Theresa May over her Brexit plan, while Tesco had its worst trading day in four years after a disappointing update. The FTSE 100 (.FTSE) closed up 0.5 percent to 7,510.28 points, tracking gains across European markets which bounced on easing worries over Italy's budget targets. May's appeal to her Conservative Party to unite behind her plan for leaving the European Union had little impact on trading, and likewise a survey showing Britain's economy appeared to have kept up most of its steady growth in the July-September period.
By Helen Reid LONDON (Reuters) - Italian stocks turned from a drag into a boost for European markets on Wednesday as signs the government would target a lower budget deficit quelled investors' fears of ...
Tesco shares fell 8 percent after Britain's biggest retailer missed first-half profit forecasts as weak trading in Thailand and Poland eclipsed accelerating sales growth in its main UK business. The supermarket group, being rebuilt by Chief Executive Dave Lewis following a 2014 accounting scandal, unsettled investors as problems abroad compounded fears that already brutal competition in its home market would further intensify with the planned merger of its two closest rivals -- Sainsbury's and Asda. Tesco, which said it was "firmly on track" to meet its medium-term targets, reported underlying operating profit of 933 million pounds ($1.21 billion) - up 24 percent on last year but short of analysts' average forecast of 978 million pounds.
LONDON (Reuters) - The chief executive of Tesco (TSCO.L) said he was focussed on improving operations in Poland - its only unprofitable market - after the group missed market expectations for first-half ...
The U.K.’s biggest grocer by market share made a group operating profit before exceptional items and amortization of 933 million pounds ($1.21 billion) for the 26 weeks ended Aug. 25, missing the market consensus of GBP992 million. Group revenue increased to GBP31.73 billion from GBP28.34 billion against a forecast of GBP31.65 billion based on two analysts polled by FactSet, driven by a 3.8% rise in like-for-like sales in the U.K. and Ireland. Tesco raised the interim dividend to 1.67 pence a share from 1.00 pence a year earlier, when it resumed dividend payments following a hiatus of more than two years.
“If you can’t beat ’em, join ’em”. German discounters Aldi and Lidl are so hard to beat — the former has just grown annual sales 16 per cent to £10bn — that he might as well join them in offering cheap groceries. Tesco shares are up 27 per cent in the past year.
When it comes to UK retailers, it is tempting to assume there really is no place like home. Splendid isolationists may feel justified after Tesco’s first-half results on Wednesday revealed further trouble in Thailand. Asian profits were £37m below analysts’ forecasts, thanks to strong competition, the discontinuation of the company’s bulk selling operations and the impact of Thai government welfare cards that discourage shopping in modern chains such as Tesco.
, after problems in the supermarket chain’s overseas operations caused half-year profits to miss expectations. The decline came as the severity and duration of problems in Poland and Thailand rattled investors and despite more evidence of recovery in Tesco’s core UK and Ireland business. In Thailand, sales fell almost 5 per cent in the second quarter and profits were hit by price cuts and costs associated with repositioning the brand there.
Supermarket shoppers in the UK enjoy low prices and unparalleled year-round choice and convenience, but these are often delivered through ruthless cost-cutting and relentless pressure on suppliers. This in turn means the workers at the end of the food supply chain suffer the consequences, with poverty wages and miserable working conditions. In recent Oxfam research, Tesco scored highest among the six biggest UK supermarkets in tackling critical issues that affect the people working in their food supply chains.
German discount grocer Aldi Stores Ltd. vowed to cut its prices to remain the cheapest option in the U.K., saying it’s undaunted by new competition from Tesco Plc. The explosive growth of Aldi and Lidl Ltd. has shaken up the U.K.’s big four supermarket operators. One of them, Tesco, launched its latest response in September when it opened the doors of a new store brand called Jack’s, a budget offering that pledged to offer Britain’s lowest prices.
Britain's markets watchdog has fined Tesco 16.4 million pounds for failing to protect account holders at its bank from a "foreseeable" cyber attack two years ago. The Financial Conduct Authority said that in November 2016 cyber attackers exploited deficiencies in Tesco Bank's design of its debit card and in its financial crime controls. "Those deficiencies left Tesco Bank’s personal current account holders vulnerable to a largely avoidable incident that occurred over 48 hours and which netted the cyber attackers 2.26 million pounds," the FCA said in a statement on Monday.
Tesco (TSCO.L), Britain's biggest retailer, is stepping up efforts to encourage shoppers to recycle plastic bottles, trialing in-store recycling machines which pay customers for every bottle returned. According to government data Britain recycled only 57 percent of the bottles that were sold in 2016, well behind the rates achieved in, for example, Denmark where a deposit return scheme has boosted rates to 90 percent. Tesco said on Thursday the trial of "reverse vending machines" will take place at stores in Borehamwood, north of London, Manchester, Birmingham, Swansea and Edinburgh.