Tesco share price has wavered in the past few days as investors focus on the deteriorating UK economy. The TSCO...
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 has been under pressure in the past few weeks. It is trading at 217p, which is...
Tesco share price is up 0.24% on Thursday, but the stock has given up a lot of its earlier gains...
The Tesco share price is up today after the company announced some changes regarding some of its food products. The...
Tesco share price is up today after the company was announced as one of the major UK food brands to...
Tesco closed yesterday’s trading session up by less than a percentage point, reversing a bearish trend of Wednesday. However, despite...
The Tesco share price has fallen heavily in the last three days, as the impact of the share consolidation takes...
Tesco share resumed a downward trend after Friday’s positive session. Tesco shares traded lower for eight straight sessions the previous two weeks. Despite the impressive rise in sales for the first quarter,
Tesco is planning to hire 20,000 people to work its supermarkets over the next three months as UK shoppers thronged...
The Tesco share price tumbled by more than 2% on Monday as a sea of red engulfed European stocks. The...