The Tesco share price is trading lower this Wednesday, stalling at a critical resistance line after failing to top the...
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 is trading lower this Tuesday after Tesco and several other UK supermarket chains issued recall notices...
The Tesco share price declined in the past two straight days as worries of tighter monetary policy in the United...
The Tesco share price has spiked to 8-year highs after the latest sales data from the UK showed that the...
The Tesco share price has surged to the highest level since July 2014 even as concerns about the Omicron variant...
The Tesco share price has given up most of its intraday gains this Wednesday, as attempts to continue the breakout...
The Tesco share price has done well in the past few months. It is trading at 276p, which is a...
The Tesco share price is slightly higher this Wednesday, but price action lacks bullish momentum. This follows a series of...
The Tesco share price is holding steady after the relatively strong UK retail sales data. The TSCO stock is trading...
The bias for the Tesco share price remains bullish, despite the market correction from the 2021 highs.