Tesco share price declined sharply after the UK retailer released its Q1 corporate earnings data. The shares are trading at...
Tesco share price
TESCO Plc (LON: TSCO) is a British retailer specializing in retail grocery sales combined with general merchandise sales. The retailer has operations in five other European countries and is the leading grocery retailer in the UK with a 28.4% market share.
Jack Cohen founded TESCO in 1919 as a group of market stalls in London. Cohen started using the TESCO name in 1924 after buying a tea shipment from T.E. Stockwell, which accounts for the first three letters of TESCO. The first TESCO shop was opened in 1931.
The retailer’s recent financial performance has cemented its position as a market leader in the UK as its recent half-year revenues and profits beat analysts’ expectations. The retailer even launched a £500 million share buyback program to reward its shareholders after the excellent earnings.
What is Tesco?
TESCO is the UK’s largest supermarket chain and can be a solid indicator of consumer demand in the country. However, the retailer’s consumer retail business was hit by the reopening of the British economy, which saw many people venture out and eat in restaurants instead of at home.
The retailer’s wholesale business operating under the Booker brand has witnessed resurgent demand driven by the reopening of eateries and restaurants. As a result, Tesco continues to thrive while many other grocery retailers were negatively affected by the easing of most lockdown restrictions in the UK.
Tesco latest news
The Tesco share price activity for today may be lower, but there is hope for better days ahead for this...
The Tesco share price has been in an aggressive bullish push since October 13, surging by 18 per cent to...
Tesco share price is up today after the UK government replaced the isolation protocols for daily contact testing in food...
Tesco share price is up this Wednesday (singles day in China’s shopping season), as Tesco Mobile aims to attract shoppers...
The Tesco share price is hovering near its highest level on record as investors wait for another catalyst. The TSCO...
Tesco share price is having the third consecutive red day of the week as most UK shares slipped on Thursday....
The Morrisons share price will be in the spotlight today after the company rejected a takeover offer recently. The stock...
Tesco share price is down by more than 1.1% as traders wait for the company’s first-quarter earnings. The shares are trading at 224p, which is the lowest it has been since June 16. This makes it the worst-performing retailer in the FTSE 100, which has also declined by 0.88%. Sainsbury’s share price has dropped by 0.88% while Morrison Supermarkets has fallen by more than 1%. Ocado share price has fallen by almost 1%. Perhaps, investors are looking ahead to Tesco’s upcoming earnings.
Tesco share price continues its price advance for the 5th day in a row as the supermarket chain continues to...