The Tesco share price surged to new 2021 highs this morning, bucking the general trend of the UK stock market....
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 hovering near its highest level on record as investors wait for another catalyst. The TSCO...
Tesco loses intraday gains as sentiment on grocery stocks sours. Beyond Meat’s revenue outlook cutback pointing to systemic issues in...
The Tesco share price held steady at its all-time high after the relatively weak UK consumer price index (CPI) data....
The Tesco share price is holding steady close to its all-time high as investors react to the recent strategies to...
The Tesco share price is flying on Wednesday as investors cheer the company’s earnings and the management strategies to boost...
The Tesco share price is seeing new demand on Tuesday after the company inked a new partnership deal with InPost....
The FTSE 100 index crashed by more than 0.40% as Evergrande and US default risks rose. The Footsie index is...
The Tesco share price is under intense pressure ahead of its half-year results that are scheduled for Wednesday this week....
The Tesco share price was little changed on Tuesday as investors reflect on the ongoing oil shortage in the country....