The UK retail industry continues to take a beating in the markets, with the Tesco share price leading the way....
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
Tesco share price has been in a tight range in the past few days as investors focus on the rising...
The Tesco share price has recovered in the past few days even as the state of the UK economy remains...
The Tesco share price is slightly lower this Tuesday after data from Kantar showed that UK grocery inflation in June...
The Tesco share price opened Thursday’s trading session steeply lower after the company reported a 1.5% drop in underlying UK...
The Tesco share price has opened to a steep slump this Thursday. It is currently down 2.43% and has the...
Tesco’s share price has been on a three consecutive losing streak. In yesterday’s trading session, the share prices closed 0.1...
The Tesco share price has resumed the trading day on a negative note as investors react to negative data surrounding...
A retail armageddon is taking place as soaring inflation converges with slowing growth. The Tesco share price collapsed to a...
The Tesco share price has lost its earlier gains on the day and now trades 0.18% to the downside. Tesco...