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).

Could it drop below £3 pound as not looking good at all at moment glad i have held back.

FOGL 11% down as well.

Some bargains out there but where is the bottom.

http://www.thisismoney.co.uk/money/investing/article-2085695/Is-Tesco-battering-canary-2012-stock-market-crash.html?ito=feeds-newsxml

Halifax don't recall you or yours posting a short on here, so easy to be smug and wise after the event isn't it? Way oversold and as always will come back. :O)

LONDON (Dow Jones)-Tesco PLC (TSCO.LN), Britain's biggest supermarket, said Friday that its non executive chairman Richard Broadbent bought 30,149 shares at 329.98 pence each.

CC it appears to us TSCO has lost control and direction of its business, the only way is ...... down.

23% down in 7 days

Tesco has always shown itself to be nimble and usually quicker than the competition. The doommongers were out in force when Walmart bought into the UK and are also prominent now, prepared to ignore all the positives, overseas, non food, internet. Trouble is the market can stay irrational longer than I can stay solvent. I've topped up and will now sit tight waiting for some sanity to return imho of course.

This does not make good reading -




..UPDATE 1-Tesco exec sold shares ahead of profit warning

Reuters - UK Focus – 1 hour 26 minutes ago


LONDON, Jan 13 (Reuters) - A senior Tesco (LSE: TSCO.L - news) executive sold stock just over a week before a profit warning sent its shares plunging, a regulatory filing shows, causing fresh embarrassment for the world's third-biggest retailer.

Noel (SES: E2:543.SI - news) "Bob" Robbins, UK chief operating officer, sold 50,000 shares at 404.51 pence apiece on Jan. 4, netting around 202,000 pounds ($309,000), according to a filing published on Jan. 5.

That was eight days before Tesco reported its biggest drop in underlying British sales for decades, and just three days before the end of the period covered by its trading statement.

UK listing rules say directors should not buy or sell shares in their company while in possession of unpublished, price-sensitive information.

The regulations, policed by the Financial Services Authority (FSA), also require directors and senior managers to obtain board-level approval before selling shares and forbid trading in shares during so-called "close periods" between the end of a financial period and the reporting of its results.

One shareholder watchdog described the sale as troubling.

"It doesn't look very good, especially in this case, when you are head of UK operations," said Simon Wong, a partner at corporate governance watchdog Governance4Owners.

Tesco said it and Robbins had operated within the rules.

"Bob Robbins sold less than 5 percent of his substantial shareholding in Tesco for necessary family expenditure," a spokesman said.

"We are confident that Bob was not in possession of any price-sensitive information at the time the sale was approved."

Wong, however, said simply operating within the letter of the law was not enough. "If these companies say it's still within the rules, then I think the rules may need to change, because this is a concern and it damages confidence."

Indeed the FSA says its listing rules are designed not only to avoid abuse but also to ensure that the right thing is seen to be done. Companies are given the freedom to impose even stricter guidelines should they deem it necessary.

Under Tesco's rules, directors were barred from trading company shares from Jan. 7 to Jan 12.

Other retailers opted for much longer close periods ahead of their key Christmas trading updates. Marks & Spencer (Dusseldorf: MA6.DU - news) 's and J Sainsbury's, for example, both ran for about four weeks, although they were reporting quarterly sales figures. Tesco published third-quarter sales on Dec. 8, and was giving just a seven-week trading snapshot on Thursday.

Morrisons, on the other hand, which like Tesco had a truncated Christmas trading period of six weeks, had a similar close period that ran from Dec. 30 to Jan. 9.

The importance of keeping to the spirit, as well as the letter, of rules on personal dealings was highlighted last week when Swiss National Bank chairman Philipp Hildebrand resigned, saying he could not prove he had been unaware of a currency trade made by his wife.

SHARE PRICE PLUNGE

On Thursday, Tesco said investment to improve its British business would hit profits in its 2012-13 financial year, sending its shares down as much as 19 percent, their biggest one-day drop since 1988.

The stock fell a little further on Friday to touch a 34-month low of 315 pence.

"The significant movement in the share price on Thursday was, we believe, primarily due to the announcement on profit guidance and UK investment plans for 2012/13. Bob was not party to discussions around the profit guidance or the investment plans at the time he made his sale," the Tesco spokesman said.

The FSA, which routinely looks into large share price movements, declined to comment.

A Tesco veteran, Robbins, 54, was appointed UK chief operating officer on March 1, 2011, having previously worked as chief executive officer for central and eastern Europe (Chicago Options: ^REURUSD - news) and strategy and development director in Asia. He sits on the group's executive committee, one level below its main board.

A regulatory filing on Friday showed Tesco's new chairman Richard Broadbent bought 30,149 shares at 329.98 pence on Thursday, or about 99,000 pounds.


On Dec. 22, internet director Ken Towle also sold 40,193 shares at 385.6 pence apiece, worth around 155,000 pounds. ($1 = 0.6528 British pounds) (additional reporting by Paul Hoskins, James Davey, Peter Thal Larsen and Sinead Cruise; Editing by Chris Wickham and Will Waterman

The FSA missed the banking crisis, and has repeatedly missed prima facie dodgy trades. They are the chocolate teapots of the regulatory world

Contrast that with the US approach, and some of the European exchanges.

As explained in the above article its not only the absolute position of the trade that matters but the perception - this one stinks

If you accept their logic then how does TSCO justify paying these senior managers such ludicrous bonuses/salaries given they know so little - what do they add then ?

bob robbins must be an idiot to sell so close to profit warnings - all i can say is he is a fool and must have been desperate - desperate people usually take desperate measures - hope they sack him and fine him heavily - not professional at all!

worral thompson

i saw some posts backing him in what i consider a misguided way - he is not sick at all - he is a cunning calculating man - the only thing wrong with him is his jumbo sized ego - he thought he could get away with anything because of his 'fame'

when he was working in butlins frying hundreds of eggs swilling in massive trays of fat he wouldnt have dared do anything like he does now - no sympathy for him at all - he only said he would seek help as he knew it was the only way he might can sympathy from some suckers in the general public - he is an ego maniac LOL

keep the worral thompson gags coming imo - he is in the public eye and should expect it - equally he should conduct himself better - chefs oddballs!

http://www.dailymail.co.uk/news/article-2086515/Antony-Worrall-Thompson-tesco-thief-Stole-friends-wife.html

bob robbins also desperate and greedy man!

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9015008/Why-struggling-Tesco-needs-to-repeat-its-Jubilee-moment.html

Again does not read good above. I said in Sept last year did Leahy jump ship at the signs of Tesco wavering.(post 106 22nd sept) Are the shares going to take a time to recover or indeed will they, as Tesco has major problems. To start to lose market share is major. As said in the article above they are squeezing the suppliers to the bone at the expence of quality. Just hope not to many of their customers walk .
Tesco has always argued that (their words)shoppers vote with their feet and if they did not like Tesco, they would simply shop elsewhere. Words are coming back to haunt them.
Time will tell if the management can stop the rot and turn Tesco round. If they are not interested in being no1 Sainsbury are.

Apparently when Anthony Worrall Thompson had a range of Pork BBQ sausages there was a mistake with the packaging design and underneath his pictures was written “Prick with a fork”… apparently it was the cooking instructions, but he is rumoured to have taken great offence

Chef Antony Worrall Thompson and TV host
Richard Madeley have announced plans to launch
a surprisingly cheap wine and cheese supply
business.
The cook and former This Morning presenter were
both keen to stress that the cut-price business will
offer a selection of hand picked wines and cheeses
that are definitely not stolen from the nearest
Tesco.
“I have personally selected all of our stock,” said
Worrall Thompson. “Each item we sell has been
hand picked by me and has certainly not been
slipped into a sports bag at the self service till.”
“We also offer a very affordable bottle of
champagne,” added Madeley. “Although it took me
ages to remember the name, as you know how
forgetful I can be when browsing the shelves in a
supermarket.”
Worrall Thompson expanded on the business
model he and Madeley will use. “It ’s still early days
– at the moment it’s just me and Richard going
around pubs with a carrier bag quietly asking
people of they’d like to buy some wine or cheese.
If things go well, we’ll soon also be offering pirated
DVD’s and counterfeit cigarettes.”

http://www.cheesechap.com/

I feel Sainsbury have got it right with quality food. Dont forget they have the price match at the till, done for you. I feel they will erode into tesco for years to come.
Did leahy see the big picture. He rode a year or so into the recession and jumped ship.
Tesco has been cut to the bone at a cost. Sainsbury do not admit to being the cheapest but have quality food. Tesco have attracted people that now due to recession have had to cut their spends dont get me wrong by no means all their
shoppers. Huge out of town stores, with the price of petrol now ? They sold off a lot of the in town small stores, starting to reopen them now. Tesco have sadly lost touch with the customer. Leahy was the head of the uk stores side and did he see this coming erh ?
Tesco have a huge headache not only with the share price. They took years to become no1, will this now change in the future?

Still falling

Did not time by entry in this, well....for once I step out of the oil arena...remind me not to....will be patient as this is a hell of a clever company !....