|Bid||229.60 x 0|
|Ask||229.70 x 0|
|Day's range||228.00 - 232.20|
|52-week range||203.70 - 332.67|
|Beta (5Y monthly)||0.37|
|PE ratio (TTM)||17.14|
|Earnings date||08 Apr 2020|
|Forward dividend & yield||0.09 (3.99%)|
|Ex-dividend date||21 May 2020|
|1y target est||269.93|
Tesco <TSCO.L>, Britain's biggest supermarket group, plans to launch a 13th Jack's store, indicating commitment to growing the discount format despite pulling the plug on a store last year. The group said it wants a Jack's to take over a vacant Mothercare <MTC.L> store in Kingston, Hull, in northern England, and has submitted plans to the local council. "We are always looking for potential sites for new Jack’s stores and these applications are part of this process," said a Tesco spokeswoman.
The shake-up of Tesco’s top management continued on Tuesday after the UK’s biggest retailer said its finance director would step down next April, just over six months after chief executive Dave Lewis departs. Tesco said that Alan Stewart, 60, was retiring and that both internal and external candidates would be considered as replacements. It added that Mr Stewart had “played an instrumental role in the turnround of Tesco”, helping lead a corporate restructuring and a reconstruction of the group’s balance sheet.
Tesco's <TSCO.L> finance chief, who helped steer the group from an accounting scandal to a successful turnaround, is to retire, setting the stage for an entirely new top executive team at Britain's biggest retailer by next May. Alan Stewart will depart next April, Tesco said on Tuesday, six months after CEO Dave Lewis is due to step down and be replaced by Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance <WBA.O>. Tesco was on its knees in September 2014 when Stewart left Marks & Spencer <MKS.L> to join the supermarket group as chief financial officer.
When Sainsbury's <SBRY.L> new boss Simon Roberts hosts a virtual focus group with supermarket shoppers on his first day in charge on Monday, the conversation will be radically different from the one he might have imagined when he got the job. In late January, Britain's second largest supermarket group by sales after Tesco <TSCO.L> announced retail and operations director Roberts would succeed Mike Coupe as chief executive after his six years in the job. Then the biggest issues Roberts faced were honing a strategy for Sainsbury's to prosper alone after its failure to combine with Asda, owned by Walmart <WMT.N>, getting through Brexit and fending off competition from Amazon <AMZN.O> and German-owned discounters Aldi and Lidl.
U.K.-based multinational groceries chain Tesco PLC <TSCO.L> has found abuses against migrant workers at its stores and distribution centres in Malaysia and Thailand, it said in its annual modern slavery statement. The company listed allegations based on interviews with 168 migrant workers in Malaysia and 187 in Thailand that included passport retention, unexplained and illegal wage reductions, heavy indebtedness to labour brokers and excessive overtime work. In Malaysia, the passports of 68 Indonesian and 171 Nepali workers were withheld, while 15 passports and up to 30 work permits were withheld by a supplier in Thailand.
The coronavirus pandemic is accelerating a digital shift in UK grocery shopping as Britons embrace home delivery, click and collect and technologies such as in-store scanning, the boss of Sainsbury's <SBRY.L> said on Thursday. Since the crisis started Sainsbury's, Britain's No 2 supermarket group, has increased online delivery and click and collect slots by nearly 50%, while sales volumes have nearly doubled. In Sainsbury's stores shopper participation in "Smartshop", which enables customers to use in-store handsets or their smartphone to scan their shopping as they go round the store, has gone "through the roof" said Chief Executive Mike Coupe.
The following are the top stories on the business pages of British newspapers. - Britain's biggest retailer Tesco has defended its decision to hand investors a total £900 million ($1.11 billion)in dividends despite taking £585 million ($724.64 million) from the government's business rates relief holiday. - Sir Stelios Haji-Ioannou, founder and the largest shareholder in Easyjet, has stepped his attack on the board of the airline by saying that he will "personally sue those scoundrels" if they go ahead with a multibillion-pound order to acquire more than a 100 new aircraft from Airbus.
Britain's biggest retailer Tesco has estimated that the lockdown will cost the firm up to 925 million pounds, the equivalent of 1.1 billion U.S. dollars. On Wednesday (April 8) it said that it wouldn't be able to give a profit guidance for the current financial year, but a loss was likely. And Chief Executive Dave Lewis said Tesco was justified in accepting 585 million pounds of business rates relief from UK taxpayers, while still paying investors a final dividend totalling 635 million pounds. Tesco was among the beneficiaries as Britain's supermarkets experienced in a surge in panic buying last month. Shoppers emptied shelves of goods such as toilet roll and pasta ahead of a national lockdown. UK grocery sales leapt more than a fifth to a record 10.8 billion pounds in the four weeks to March 22. But while Tesco enjoyed a boost in sales, the crisis has come with added costs. Social distancing measures have restricted the number of shoppers in store at any one time. The expansion of online delivery operations has also proved costly, as have staff bonuses and hiring more employees. In the last two weeks alone, Tesco has recruited more than 45,000 workers in the UK to help cover staff sickness and cope with additional demand. The company expects extra costs to now be between 650 and 925 million pounds.
Britain's biggest retailer Tesco expects to take a hit of up to 925 million pounds ($1.1 billion) from the costs of dealing with the coronavirus pandemic and warned it was unable to give a profit forecast for this financial year. "There are significant extra costs in feeding the nation at the moment but ... Tesco is a business that rises to a challenge and this will be no different," CEO David Lewis said, as the company reported a 14% rise in underlying operating profit for the year ended Feb. 29, broadly in line with expectations. Britain's supermarkets have seen a surge in demand as shoppers have stocked up on essential goods such as toilet roll and pasta during a lockdown to contain the spread of the virus.
Tesco has defended its decision to pay investors a 635 million pound dividend while accepting business tax relief from the British government aimed at helping distressed retailers through the coronavirus crisis. Britain's biggest retailer, which saw sales soar 30% in the three weeks before the country went into lockdown to contain the spread of the virus, estimated a hit of up to 925 million pounds from the costs of dealing with the pandemic and warned it couldn't give profit guidance for the current financial year. CEO Dave Lewis said Tesco "thought long and hard about our responsibilities" and decided it was justified in paying a 6.5 pence final dividend to shareholders, while being in receipt of taxpayers' money.
Britain's biggest retailer Tesco <TSCO.L> said on Tuesday it had recruited 35,000 additional workers in the last 10 days to help get it through the coronavirus emergency, which has triggered a dramatic increase in demand for groceries. The supermarket group is the country's largest private sector employer with around 340,000 workers in the United Kingdom and Ireland and nearly 3,800 stores. The new workers, including in-store shelf stackers, pickers for online deliveries and drivers, will help fill a gap left by those absent due to sickness or self-isolation.
HONG KONG/SINGAPORE, March 31 (Reuters) - Asia's dealmakers are looking to distressed sales and a pick-up in take-private deals after fallout from the coronavirus outbreak sent first-quarter M&A activity to a seven-year low. Deal value across the Asia-Pacific region, at $177.4 billion, was down 20% in the first three months of 2020 versus the same period a year earlier, showed data from Refinitiv.
Britain's market-leading supermarket chain Tesco said on Friday it would hire 20,000 people to work in its stores for at least the next 12 weeks to cope with an unprecedented increase in demand for food and household products. "We launched our recruitment drive online on Wednesday and since them we have already been overwhelmed by support from the public and thank everyone who has applied to work with us in stores," Tesco's Chief People Officer Natasha Adams said in a statement. "We have seen 140,000 views on our Tesco Careers page and over the coming days thousands of new colleagues will join us in helping to feed the nation."
Long lines with trollies full of food and other essentials are a familiar sight around the world now. Shoppers are choosing to strip shelves bare ahead of any lockdown. On Wednesday (March 18), that prompted Britain's biggest supermarkets - Tesco, Sainsbury's and Asda - to impose limits on purchases. Tesco is allowing shoppers to buy just two packs of certain items such as dried pasta, tinned tomatoes, and cleaning products. Sainsbury's and Asda are limiting customers to three of any one product. Though all say the supply chains that bring food from across the world are still functioning. Other countries including Russia have similar issues with panic buying. Supermarkets in Moscow have started running low on certain items. On Tuesday (March 17), officials said Russia could limit exports of some foods if the coronavirus pandemic leads to a shortage there. In Belgium, one supermarket chain is now reserving the first hour of the day for elderly people - those most at risk from the virus. (SOUNDBITE) (French) CUSTOMER, ARLETTE CRELOT (74), SAYING: "I took advantage of the fact that I woke up early this morning to come here. But I didn't expect to see that many people at this time of the day." Supermarket shelves are being emptied in Johannesburg too. (SOUNDBITE) (English) SHOPPER, NOMUSA GUMEDE, SAYING: "I'm also trying to safeguard my family in a way. So that at least I have enough food. Especially the tin stuff. I'm not a tinned food person, but at this stage I had to buy a lot of tinned stuff in case of emergency." In Australia, Prime Minister Scott Morrison criticized those buying more than necessary. (SOUNDBITE) (English) AUSTRALIAN PRIME MINISTER SCOTT MORRISON SAYING: "Stop hoarding. I can't be more blunt about it. Stop it. It is not sensible, it is not helpful and it has been one of the most disappointing things I have seen in Australian behavior in response to this crisis." The message from governments and supermarkets around the world is clear - only buy what you need, and there will be enough to go around.
Britain's biggest supermarkets, Tesco, Sainsbury's and Asda, imposed limits on purchases of pasta, toilet roll and long life milk on Wednesday after alarmed shoppers stripped shelves bare to hoard for possible isolation in the coronavirus outbreak. Prime Minister Boris Johnson, who has faced criticism for acting too cautiously, said on Tuesday there was no reason to stockpile and that food supplies were safe. Huge queues snaked around some supermarkets on Wednesday, Reuters reporters said.
Britain's biggest supermarket Tesco <TSCO.L> can keep shelves stocked and withstand shopper hoarding over coronavirus that has seen runs on pasta, hand sanitiser and toilet roll, its chairman said on Thursday. Social media has been awash this week with pictures of empty shelves in Britain's major supermarkets, with items like dried pasta and toilet rolls particularly sought after. "There’s plenty of product in the supply chain, there’s plenty of food at Tesco and other supermarkets, and I don’t think anybody needs to panic buy," he told BBC radio.
British supermarket chain Tesco has agreed to a $10.6 billion deal to sell all its stores in Thailand and Malaysia to companies belonging to the CP Group, Thailand's biggest conglomerate. CP is controlled by the Chearavanont family, which Forbes magazine lists as Thailand's richest outside of the country's royal family. Two other prominent Thai family business groups had also sought to purchase the Tesco assets: the retail store-focused Central Group of the Chirathivat family, and Charoen Sirivadhanabhakdi's TCC group, best known for its beverage companies and real estate holdings.
LONDON/BANGKOK (Reuters) - Tesco <TSCO.L> plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of plans to refocus on Britain. Lewis declared Tesco's turnaround complete last October and will step down in October this year, when he will be succeeded by Ken Murphy, formerly of Walgreens Boots Alliance. Bernstein analyst Bruno Monteyne on Monday said that Tesco had secured "a very strong valuation" for the Thai and Malaysian assets and investors could look forward to a special dividend representing 21% of the group's current market capitalisation.
Britain's biggest retailer Tesco said Monday that it has agreed to sell its businesses in Thailand and Malaysia to Thai conglomerate CP Group for £8.0 billion ($10.4 billion, 9.2 billion euros). "Following inbound interest and a detailed strategic review of all options, we are announcing today the proposed sale of Tesco Thailand and Tesco Malaysia," said outgoing Chief Executive Dave Lewis in a statement, adding the supermarket chain would return £5.0 billion of the proceeds to investors.
SINGAPORE/BANGKOK, March 9 (Reuters) - Charoen Pokphand (CP) Group said on Tuesday its board approved a deal for its subsidiaries to buy up 86.9% of the Thai business of British retailer Tesco and 100% of the retailer's Malaysian business in a deal valued at $10.6 billion. Citing sources, Reuters reported on Sunday that CP was the frontrunner to buy Tesco's Thai and Malaysian assets in a potential deal that could be worth just over $10 billion.
SINGAPORE/HONG KONG (Reuters) - Tesco <TSCO.L> is set to assess bids by Thai billionaires for its Asian business on Sunday, a potential deal which could be worth just over $10 billion (7.66 billion pounds), four banking sources with knowledge of the matter said. A final decision by Tesco could mark the end of a three-way tussle for control of the company's Thai operations, which comprise some 2,000 stores, said the sources, who declined to be identified as the information is confidential. Sources have said Tesco is also selling 74 outlets in Malaysia.
Britain's biggest supermarket group, Tesco <TSCO.L>, will start price matching Aldi on hundreds of everyday items, firing the latest salvo in its fight to stem the market share gains of its rival. Tesco <TSCO.L> said its price matching with Aldi, a German-owned discounter, would include products such as its packs of 5% fat lean beef steak mince, Greek-style yoghurt and ready-to-eat large avocados as well as branded products.
British retailer Tesco <TSCO.L> has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said. The bidding is shaping up as a battle between Dhanin Chearavanont's Charoen Pokphand (CP) Group, Central Group, controlled by the Chirathivat family, and beer-and-property magnate Charoen Sirivadhanabhakdi's TCC Group, they said. Tesco's Asian operations comprise some 2,000 supermarket outlets and convenience stores in Thailand, where it is one of the biggest retail players, and 74 stores in Malaysia.
British retailer Tesco has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said. The bidding is shaping up as a battle between Dhanin Chearavanont's Charoen Pokphand (CP) Group, Central Group, controlled by the Chirathivat family, and beer-and-property magnate Charoen Sirivadhanabhakdi's TCC Group, they said. Tesco's Asian operations comprise some 2,000 supermarket outlets and convenience stores in Thailand, where it is one of the biggest retail players, and 74 stores in Malaysia.