Tesco is one of the worlds leading international retailers. Since the company first the trading name of Tesco, in the mid 1920s, the group has expanded into different formats, different markets and different sectors. The UKs leading retailer Tesco was floated on the stock exchange in 1947 and in 1995 took over rival Sainsburys position as the UK number one. The principal activity of the group is food retailing, with over 2,000 stores worldwide. Tesco has a long term strategy for growth, based on four key parts: growth in the Core UK business, to expand by growing internationally, to be as strong in non-food as in food and to follow customers into new retailing services. The company launched a home shopping service in 2000, allowing customers to order their shopping online. Tesco is now expanding its convenience stores and overseas into areas such as Taiwan, Malaysia, Poland, the US and Ireland.

Upper graph = 12 month share price with 6 month moving average
Lower graph = 12 month volume (red line = volume average).

Sharp drop coming on... 187p now.

Rumours about - Lewis might be leaving.

This is money - Will Lewis hang around? Beady headhunters are already drawing up their lists of replacements for his old Unilever boss Polman, who's rumoured to be nearing the end of his tenure.
Scribbled at the top there's likely to be the previously unknown name of Dave Lewis

Well shock horror sp rising. Guess what first in the que ( bugger to spell ) to short

Qué? You mean Queue or cue :-)

jp closed all its shorts

Do you feel lucky....

Tesco looks to strong results to calm Booker discontent

Preliminary Results

Headlines
Growth in sales2, volume, profit3 and cash4
· Group sales2 up 4.3% to £49.9bn

· UK like-for-like sales6 up 0.9% - first reported full-year growth since 2009/10; UK food LFL up 1.3%

· Positive volume growth in both UK & ROI and International

· Group operating profit before exceptional items3 up 30% to £1,280m; UK & ROI up 60% to £803m

· Step up in Group operating margin3 from 1.8% to 2.3%; on track for 3.5-4.0% ambition by 2019/20

· Retail operating cash flow4 up 9% to £2.3bn

· Net debt4,5 of £(3.7)bn, down 27%; £1.9bn of debt repaid within the year

· Statutory revenue up 3.7% to £55.9bn; PBT down year-on-year after £(235)m exceptional charge booked post year-end following our agreement with SFO and FCA7

Six strategic drivers guiding our actions
· Brand health8 at strongest level in five years

o Further improvement in core offer, including c.£300m investment in seven exclusive fresh food brands in March 2016, contributing to sustained market outperformance in fresh food

o Price of typical basket down 6% since Sept 2014; promotional participation down to 32%

o Most improved food retailer for quality perception; record rating for staff helpfulness at 80%

o Availability at record high; simpler range with 24% net reduction over two years

· Cost savings of £226m already achieved towards £1.5bn medium-term target; FY savings of £455m

· Generated £2.3bn retail operating cash; £0.4bn underlying working capital9 inflow

· More efficient mix across channels & products; improved service model in 1,500 stores

· Released £0.5bn value10 from property; 1.0m sq. ft. space re-purposed; 16 stores re-purchased

· Innovated to remove 14bn calories from soft drinks in two years; food donations up 148% as FareShare FoodCloud now in all large UK stores; PayQwiq digital wallet used once every 5 seconds

Dave Lewis, Chief Executive:
"Today, our prices are lower, our range is simpler and our service and availability have never been better. Our exclusive fresh food brands have strengthened our value proposition and our food quality perception is at its highest level for five years. At the same time, we have increased profits, generated more cash and significantly reduced debt.

We are ahead of where we expected to be at this stage, having made good progress on all six of the strategic drivers we shared in October. We are confident that we can build on this strong performance in the year ahead, making further progress towards our medium-term ambitions.
On top of this, our proposed merger with Booker will bring together two complementary businesses, driving additional value for shareholders by realising substantial synergies and enabling us to access the faster growing 'out of home' food market."

more.....

Oh dear, market not convinced.

12 Apr
Goldman Sachs
N/A
Sell

13 Apr
Deutsche Bank
240.00
Buy
13 Apr
Beaufort...
210.00
Long Term Buy
13 Apr
Bryan Garnier
170.00
Sell
13 Apr
HSBC
260.00
Buy
13 Apr
HSBC
260.00
Buy

Hardly going to excite the market.


16:05 13/04/2017
Director Deals - Tesco PLC (TSCO)
Simon Patterson, Non Executive Director, bought 100,000 shares in the company on the 13th April 2017 at a price of 185.29p. The Director now holds 100,000 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by...
16:05 13/04/2017

Director Deals - Tesco PLC (TSCO)
Mark Armour, Non Executive Director, bought 25,000 shares in the company on the 12th April 2017 at a price of 185.54p. The Director now holds 50,000 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com
16:05 13/04/2017

Director Deals - Tesco PLC (TSCO)
John Allan, Chairman, bought 20,000 shares in the company on the 12th April 2017 at a price of 185.36p. The Director now holds 233,951 shares representing 0.00% of the shares in issue. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com

Goldman does not like Tesco.

18 Apr
HSBC
260.00
Buy

18 Apr
Goldman Sachs
150.00
Sell

Tesco slumps as Goldman’s bearish streak continues
Share
14:51 18 Apr 2017
The banking giant has lowered its estimates for the next few years and said free cash flow generation “remains the concern”

Tesco beat City estimates when it posted underlying profits of £1.2b8bn last week
Shares in Tesco PLC (LON:TSCO) were up for sale on Tuesday after the supermarket giant was on the end of another bearish note from Goldman Sachs.
Goldman analyst Rob Joyce highlighted the fall in UK like-for-like sales, which slipped to just 0.7% in the final three months of 2016 from almost 2% in the previous quarter.
Joyce also mentioned the pension deficit which spiralled to £5.5bn (2016: £2.6bn) due to the reduction in bond yields following last summer’s Brexit vote.

The analyst lowered his forecasts for the next three years on the back of lower incremental cost savings, higher interest charges due to property debt and higher tax guidance.
“However, the key concern for us remains free cash flow generation,” wrote Joyce in a note to clients.
“Even forecasting further working cap inflows and £100mln per annum to be generated from property value realisation, pension repayments, onerous leases and the SFO settlement mean we forecast average FCF for 2018-20 of £440mln.
“This implies a c.3% yield, unattractive versus the sector on 5.5% for calendar year 2018.”
Goldman is forecasting a pre-tax profit of £1.07bn for Tesco this year, on revenues of £56.7bn.
Joyce has the stock as a ‘sell’ with a 12-month target price of 150p.
Shares in Tesco were down 2.3% to 177p on Tuesday afternoon.

todays rns on more free hand outs to the failures running this company is totally out of order the directors have failed big time . the booker deal is very bad news

the remuneration committee should be investigated by the sfo

for the last 2 years we have had false recovery figures so the directors could get free hand outs .its time for action and sack them all they are no more than crooks

were are the facts on recovery to award millions in bonuses
they have given out no divs for 3 years but they have claimed recovery 3 times all false
and the sp confirms this

LR

You are quite right. Once again the business is being run for the directors and those others affiliated to the top.

Nice work if you can get it, eh?

Aldi are talking of opening a store per 30,000 heads. So you are talking 6-8 in Watford alone. Tell me how can Tesco survive this. I would not worry to much, in blunt terms they will not compete . I would not like to guess if they have a future. Aldi will be rolling out new stores soon at such a pace, Tesco and the likes will not know what hit them.

Tesco merger is a failure for holders . vote it out but it may not happen CMA to put
to tell Tesco to sell hundreds of stores making it worthless

Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.  Neither Tesco nor any of its affiliated companies undertakes any obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

All the big name retailers seem to be gradually changing direction.

eg. Even M&S are talking about getting out of 'womens' fashions'. Hmmm?