TSCO.L - Tesco PLC

LSE - LSE Delayed Price. Currency in GBp
227.60
-4.30 (-1.85%)
As of 11:20AM BST. Market open.
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Previous Close231.90
Open232.10
Bid227.60 x 0
Ask227.70 x 0
Day's Range226.98 - 232.80
52 Week Range203.70 - 332.67
Volume6,671,533
Avg. Volume34,163,291
Market Cap22.29B
Beta (5Y Monthly)0.41
PE Ratio (TTM)22.99
EPS (TTM)9.90
Earnings DateApr. 08, 2020
Forward Dividend & Yield0.09 (4.01%)
Ex-Dividend DateMay 21, 2020
1y Target Est269.93
  • Finance chief who guided Tesco from scandal to turnaround to retire
    Reuters

    Finance chief who guided Tesco from scandal to turnaround to retire

    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.

  • Sainsbury's new boss Roberts faces unexpected in-tray
    Reuters

    Sainsbury's new boss Roberts faces unexpected in-tray

    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.

  • British grocer Tesco's slavery review reports abuses in Malaysia
    Reuters

    British grocer Tesco's slavery review reports abuses in Malaysia

    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.

  • Can You Imagine How Tesco's (LON:TSCO) Shareholders Feel About The 36% Share Price Increase?
    Simply Wall St.

    Can You Imagine How Tesco's (LON:TSCO) Shareholders Feel About The 36% Share Price Increase?

    By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with...

  • Coronavirus to accelerate UK grocery's digital shift, says Sainsbury's boss
    Reuters

    Coronavirus to accelerate UK grocery's digital shift, says Sainsbury's boss

    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.

  • MORNING BID-U.S. re-opening plans help markets overlook China GDP contraction
    Reuters

    MORNING BID-U.S. re-opening plans help markets overlook China GDP contraction

    China’s historic first-quarter contraction in gross domestic product did little to stymie an equity rally pinned on hopes that some degree of normality could soon return to virus-stricken economies as President Donald Trump outlines gradual plans to re-open the U.S. economy. Markets in Asia took China’s 6.8% year-on-year GDP tumble in their stride and the numbers nurtured hopes for more stimulus measures ahead.

  • Something To Consider Before Buying Tesco PLC (LON:TSCO) For The 3.9% Dividend
    Simply Wall St.

    Something To Consider Before Buying Tesco PLC (LON:TSCO) For The 3.9% Dividend

    Could Tesco PLC (LON:TSCO) be an attractive dividend share to own for the long haul? Investors are often drawn to...

  • Thomson Reuters StreetEvents

    Edited Transcript of TSCO.L earnings conference call or presentation 8-Apr-20 7:30am GMT

    Full Year 2020 Tesco PLC Earnings Call

  • Thomson Reuters StreetEvents

    Edited Transcript of TSCO.L earnings conference call or presentation 8-Apr-20 10:15am GMT

    Full Year 2020 Tesco PLC Earnings Debt Investor Update Call

  • The Zacks Analyst Blog Highlights: Amcor, Sandstorm Gold and Tesco
    Zacks

    The Zacks Analyst Blog Highlights: Amcor, Sandstorm Gold and Tesco

    The Zacks Analyst Blog Highlights: Amcor, Sandstorm Gold and Tesco

  • Tesco warns coronavirus costs could top $1 billion
    Reuters Videos

    Tesco warns coronavirus costs could top $1 billion

    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.

  • Tesco Has Every Right to Pay a Dividend
    Bloomberg

    Tesco Has Every Right to Pay a Dividend

    (Bloomberg Opinion) -- One well-known British retailer says it has noticed a marked upturn in customers saying “Thank you” to store staff since the start of the Covid-19 crisis. Investors in another — Tesco Plc — will be doing the same after it said it would pay out 635 million pounds ($783 million) in final dividends, taking its distribution for the full year to about 900 million pounds.Britain’s biggest retailer has every right to reward its shareholders. After all, unlike many companies crippled by the virus lockdown, it is doing well. The supermarket operator has come through the dark days of 2014 when it discovered a 250 million-pound profit shortfall, and made one of the biggest losses in British corporate history.Tesco on Wednesday announced underlying operating profit of just below 3 billion pounds in the year to Feb. 29, 2020, and said it generated just over 2 billion pounds of free cash flow. Net debt, including lease liabilities, has come down from 22 billion pounds as of February 2015 to 12.1 billion pounds. That means it has no immediate need for extra cash, capital or liquidity.The rub is that Tesco is accepting coronavirus-related relief from the government in terms of the 12-month holiday from business rates to the tune of 585 million pounds. This is the property-based tax that Tesco Chief Executive Officer Dave Lewis and others have argued unfairly penalizes retailers with big store estates, and lets online competitors get off lightly.Across Europe, companies have been under pressure to scrap payouts in order to preserve cash or in some cases to access government aid. More than a sixth of firms in the benchmark Stoxx 600 Index have canceled or delayed dividends.Tesco says any saving from the U.K.’s business rates will be outstripped by the extra costs it will incur to keep its stores open and treat employees well throughout the pandemic. It predicts that they will ring in at a minimum of 650 million pounds, or as much as a worst case scenario of 925 million pounds of additional expense.This includes everything from providing full pay to sick employees, paying staff a 10% bonus, recruiting 45,000 new workers and transferring others to where they’re needed most, as well as making changes to stores, such as installing screens to protect cashiers working the check out lanes. Extra labor costs in stores and distribution centers will account for between 415 million and 580 million pounds.So far, Tesco hasn’t accessed any other government support. It has continued to pay its VAT bill for example.And panic-buying ahead of the U.K.’s lockdown hasn’t benefited all of its aisles. While Tesco has enjoyed an uplift in food sales, which rose about 30% in the first few weeks of the crisis, clothing and fuel sales are down about 70%. Within Tesco stores, food is notoriously low margin. The drop in demand for higher-margin furnishings and fashions, together with the higher costs, will have an impact on profit in this fiscal year.Tesco says that as well as its staff, it is thinking about its investors — and there is likely to be some significant overlap between the two. For several years after Tesco’s own crisis, its shareholders lived without a payout. The company has been gradually rebuilding its dividend since February 2018.The trouble is, consumer groups’ reputations will live or die by their response to Covid-19, and Tesco could have handled this differently.One option would have been to simply defer the dividend. It could have been distributed at Tesco’s interim results in October, when feelings may not be running so high, or paid as a special dividend in 2021. After all, shareholders are already set to receive an exceptional dividend of 5 billion pounds from the sale the group’s Thai business, which it still expects to complete in the second half of this year.Tesco, along with Britain’s other big grocers, have done an admirable job in continuing to supply food, but also absorbing workers who have been laid off from other industries. It would be a shame if this was overshadowed by the dividend decision.A little more imaginative thinking from the Tesco board could have enabled both customers and shareholders to say, “Thank you.”This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Tesco defends dividend payout as warns coronavirus costs could top $1 billion
    Reuters

    Tesco defends dividend payout as warns coronavirus costs could top $1 billion

    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.

  • 3 Cheap Stocks Under $10 to Buy as Market Climbs on Coronavirus Optimism
    Zacks

    3 Cheap Stocks Under $10 to Buy as Market Climbs on Coronavirus Optimism

    Today, we dive into three cheap stocks trading under $10 a share and tried to focus on stocks from more recession-resilient industries, as the market climbs on coronavirus optimism...

  • MORNING BID-Markets rally on hopes of virus spread stabilising
    Reuters

    MORNING BID-Markets rally on hopes of virus spread stabilising

    UK Prime Minister Boris Johnson was admitted to hospital late on Sunday night with persistent symptoms, and Japan is about to declare a state of emergency for up to six months. The IMF just launched its new “World Pandemic Uncertainty Index” for 143 countries, which shows that the level of economic uncertainty related to the coronavirus is unprecedented.

  • Tesco recruits 35,000 workers to get through coronavirus crisis
    Reuters

    Tesco recruits 35,000 workers to get through coronavirus crisis

    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.

  • 3 Cheap Dividend Stocks Under $20 to Buy Now for Coronavirus Volatility
    Zacks

    3 Cheap Dividend Stocks Under $20 to Buy Now for Coronavirus Volatility

    Today we dive into three cheap stocks trading under $20 a share that also pay a dividend that investors might want to buy now during coronavirus volatility...

  • Tesco to hire 20,000 people to cope with rush on supermarkets
    Reuters

    Tesco to hire 20,000 people to cope with rush on supermarkets

    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."

  • Bloomberg

    Ocado Suspends Website as U.K. Shoppers Stockpile Groceries

    (Bloomberg) -- Ocado Group Plc has temporarily closed its website as it struggles to cope with demand from shoppers trying to stockpile groceries.The U.K. online grocer closed its site until Saturday as it faces a “simply staggering amount of traffic” and is trying to catch up with orders. The site also won’t accept new customers for the time being because it wouldn’t be able to keep up.The closure will allow the company to “complete essential work that will help to make sure distribution of products and delivery slots is as fair and as accessible as possible,” Melanie Smith, chief executive officer of Ocado Retail, said in a statement.Growing fears about the new coronavirus pandemic have prompted stockpiling, even though the British government and grocers have reassured consumers that there is enough food to go around. Ocado said basket sizes have been increasing, with growth in the second quarter so far at twice the rate of the first. The website now has a system by which customers wait in line to be able to order.The stock traded 2.5% higher at 8:18 a.m. in London, bringing the five-day gain to 34%.Britain’s two biggest supermarkets -- Tesco Plc and J Sainsbury Plc -- have recently introduced limits of three items on grocery products in an effort to try to ease the pressure on their supply chains. Other grocers have also introduced rationing. Wm Morrison Supermarkets Plc said this week that it planned to hire more workers as it expands its home delivery service to meet demand.Ocado said its retail revenue had risen 10% in the 13 weeks to March 1. The real surge in demand came since then.(Updates with shares)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Global supermarkets impose limits as panic buying spreads
    Reuters Videos

    Global supermarkets impose limits as panic buying spreads

    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.

  • Panic buying forces British supermarkets to impose limits
    Reuters

    Panic buying forces British supermarkets to impose limits

    Panic buying by British shoppers escalated on Wednesday with shelves stripped bare by alarmed customers hoarding for the coronavirus isolation, prompting Tesco and Sainsbury's to restrict purchases. Prime Minister Boris Johnson, who has faced criticism for acting too slowly and too cautiously to tackle the coronavirus outbreak, said on Tuesday that there was no reason to stockpile and that food supplies were safe. In supermarkets across the land, though, shoppers were spooked.

  • MORNING BID-Zero rates, and so far - zero impact
    Reuters

    MORNING BID-Zero rates, and so far - zero impact

    ZIRP https://tmsnrt.rs/2yscMz9 (zero interest rate policy) has arrived in the United States. The Federal Reserve also resumed quantitative easing (QE), added to cash injections and reactivated swap lines with other central banks.

  • Here's Why We Think Tesco (LON:TSCO) Is Well Worth Watching
    Simply Wall St.

    Here's Why We Think Tesco (LON:TSCO) Is Well Worth Watching

    Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...

  • Don't panic over coronavirus as food is plentiful, says Tesco boss
    Reuters

    Don't panic over coronavirus as food is plentiful, says Tesco boss

    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.