|Bid||242.60 x 0|
|Ask||242.70 x 0|
|Day's range||241.90 - 244.98|
|52-week range||187.05 - 254.10|
|Beta (3Y monthly)||1.23|
|PE ratio (TTM)||18.07|
|Earnings date||2 Oct 2019|
|Forward dividend & yield||0.07 (2.97%)|
|1y target est||269.93|
When the little known Ken Murphy takes over next year as CEO of Tesco , Britain's biggest retailer, he will inherit something current boss Dave Lewis did not have the luxury of when he joined in 2014 - a strategy and a stable business. When former Unilever executive Lewis became CEO of Tesco on Sept. 1, 2014, the supermarket group was already reeling from a dramatic downturn in trading. Fast forward five years and Lewis, 54, has declared Tesco's turnaround complete.
Tesco boss Dave Lewis, credited with saving Britain's biggest retailer from collapse in 2014, will step down next summer after declaring its turnaround complete, handing over to a relative unknown catapulted into one of the sector's top jobs. Celebrating its 100th anniversary, Tesco is five years into a recovery plan launched by Lewis after an accounting scandal capped a dramatic downturn in trading. Successor Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance , will become the second outsider to lead Tesco, following in the footsteps of former Unilever executive Lewis.
Brands McDonalds (MCD), Nestlé (NESN.SW), and Walmart (WMT) are championing climate action, but a network of investors said the big brand suppliers aren’t aligned with their messaging.
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.
PARIS/SINGAPORE/BEIJING, June 24 (Reuters) - Shares in France's Carrefour rose on Monday after it became the latest Western retailer to retreat from the Chinese market as fierce competition from domestic rivals and a growing online market puts pressure on foreign firms. Investors welcomed a long-awaited all-cash deal struck at what analysts said was a good enough price in view of Carrefour's falling sales and operating losses in China. Carrefour, which has been in China since 1995, agreed to sell 80% of its Chinese operations to electronics retailer Suning.com for 620 million euros ($705 million).
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.