Tesco’s rising share price leads FTSE 100 higher January 8, 2015 Tesco became the biggest riser on the FTSE 100 this morning, with its shares jumping more than 11 per cent in lunchtime trading after it posted encouraging Christmas trading figures. By close of trading, Tesco's share price had soared 16.4 per cent. The rally helped the FTSE 100 to rise almost 2.3 per cent. Other [...]
Tesco turnaround: Dave Lewis says “We are facing the reality of the situation”. Here’s his statement in full January 8, 2015 Tesco's share price has risen 11.2 per cent today, after revealing better than expected results, a detailed turnaround strategy and the name of its new UK and Ireland boss, Halford's Matt Davies, who joins in June. Chief executive Dave Lewis has gone through a baptism of fire in his first few months at the [...]
Supermarket wars: Tesco, Sainsbury’s and Morrisons feeling the pressure in one share price chart January 8, 2015 Tesco’s share price is up today, and by a lot: 9.8 per cent at the time of writing. All in all, though, it’s been a bad past 12 months for supermarkets, with Tesco, Sainsbury’s and Morrisons share prices all sliding against the FTSE, which has itself dropped over the same period. Tesco’s story has been [...]
Tesco turnaround: Here’s what the analysts say January 8, 2015 Troubled Tesco today unveiled a dramatic turnaround plan, which will be led by Halfords chief executive Matt Davies when he starts as the supermarket's new UK boss in June. Its share price soared more than 10 per cent in mid-morning trade. But what are the analysts making of it all? Finally fighting back: John Ibbotson, director [...]
Tesco share price: One chart showing the rise, fall – and rise again? – of a retail empire January 8, 2015 Is turning around a supertanker really this easy? Tesco's share price rebounded more than nine per cent this morning after the retailer posted results showing Christmas sales fell a mere 2.9 per cent. Admittedly, that's hardly an impressive performance – but it's better than analysts had expected. If you're on a mobile, tap on the [...]
Tesco share price surges nine per cent after naming Matt Davies as new UK boss: sales drop, but turnaround begins January 8, 2015 Tesco's share price surged by more than nine per cent this morning, after the troubled supermarket outlined its turnaround strategy. It reported a fall in like-for-like sales of 2.9 per cent in the 19 weeks to 3 January – a better than expected set of results. The supermarket, which had a dismal 2014, set out [...]
Tesco, Morrisons, Asda, and Sainsbury’s cut petrol prices as Brent crude falls again January 7, 2015 The UK’s supermarkets are cutting petrol prices as the falling price of oil fuels a pump war. Brent Crude dropped below a symbolic threshold this morning, sliding below $50 a barrel to $49.99. The supermarkets had already blinked, however. Asda capped its petrol prices at 107.7p per litre and diesel at 114.7p from 1 January, [...]
LondonMetric buys Tesco dark store as online demand expands January 6, 2015 LondonMetric has stepped up its exposure to the UK’s fast-growing online retail market by acquiring a Tesco distribution centre in south London for £21m. The property company said yesterday it has bought the Croydon warehouse from CBRE Global Investors in a deal reflecting an initial yield of 5.5 per cent. The 173,000 square feet online [...]
Tesco braces for era of pain as Dave Lewis restructures group January 4, 2015 Troubled retail giant Tesco is preparing to give investors a poor set of financial results this Thursday – which is likely to include losses in its core supermarket operations. New boss Dave Lewis has warned shareholders that he is willing to take short-term pain for long-term gain. He is not going to reveal any comprehensive [...]
Tesco to reveal new supplier payment system as fears of second-half loss grows January 4, 2015 In the wake of a terrible 2014 for the retail giant, Tesco is preparing itself to overhaul the way it organises its supply chain. According to the Sunday Times, which quotes senior sources, Tesco chief executive Dave Lewis plans to unpick the complex system of rebates and penalties used to extract money from suppliers, [...]