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).

DOW currently showing @10,477.

What does that mean skinny? showing at 10,477.

That's where the DOW would be (if open) - obviously not the market per se - but above the 12,422 close - the S&P announcement was some hours before the close on Friday.

Ah, a digit typo then??? ;o) That's the second time in a coupe of days that the markets have dropped over 1000 points!!!

Harry - must be an age thing - I didn't even notice - I re-checked the hundreds and tens after your question - didn't even look at the thousands :-)

It's Martin Luther King day.....dear oh dear....market closed I think in USA....or is it....

Better off with Sainsbury or Morrisons as a sector recovery play rather then this lot I would have thought chaps.

Best way to save money when shopping at Tesco.....

Use Anthony Worral Thompson to do your shopping.

Wont help the sp, a tea leaf in the stores. :-))

Hope we a correction soon

..Investors want Tesco to toughen share trade rules

Reuters – 41 minutes ago
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S

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By Sinead Cruise and Mark Potter

LONDON (Reuters) - Shareholders want Britain's Tesco Plc (TSCO.L) to tighten rules on when its executives can trade shares, after a senior manager sold stock eight days before the company issued a profit warning that hammered its share price.

Investors said the rules needed revising to put greater distance between the timing of share deals by executives and significant company announcements.

"Companies need to be very careful about when they allow people to sell shares ahead of announcements," said Paul Mumford, a fund manager at Cavendish Asset Management. "I think it reflects quite badly on them (Tesco)".

Tesco, the world's third-biggest retailer, said on Friday UK Chief Operating Officer Noel Robbins did not know about the imminent profit warning when he sold around 202,000 pounds of shares and neither he nor the company had broken any rules.

Under British listing rules, executives are barred from trading in shares during so-called "close periods" between the end of a financial period and the reporting of results.

In the case of Tesco, which was reporting on its performance for just a seven-week trading period, that ran from January 7 to January 12.

Rivals like J Sainsbury (SBRY.L) and Marks & Spencer (MKS.L) both imposed "close periods" of around four weeks ahead of their key Christmas trading figures -- although they were also reporting full quarterly figures.

One top-20 investor in Tesco said the group's chief executive, Phil Clarke, should forego his annual bonus to atone for an error in judgment in approving the sale and that he could not afford to put another foot wrong as he seeks to restore Tesco's fortunes.

ROCKY POSITION

"He is in a bit of a rocky position at the moment and he is going to have to do something fairly rapidly to convince people that he has control of this company," the shareholder said on condition of anonymity.

"It would be a nice gesture to pass on the bonus," he said, calling for a "full and frank account" of events that led up to the share sale.

"I think Robbins was unwise to sell when he did and, in my view, he shouldn't have been allowed to deal," said another shareholder at a major fund manager, also speaking on condition of anonymity.

"Clarke will have to do a lot more than cut his bonus ... The problems at Tesco are much more deep seated," he added.

Tesco declined to comment on whether it would review its rules on close periods, or whether Clarke would forego a bonus.

Several Tesco executives have sold a significant number of shares over the past year, including Finance Director Laurie McIlwee, head of retail services Andrew Higginson, U.S. chief Tim Mason and Internet head Ken Towle.

The top-20 investor said Clarke should consider bold strategic moves to rebuild confidence.

"One of the things I think is very interesting is that the property that they own is worth more than the current share price ... and if they decide they do not need that to underpin a UK growth plan, maybe they could look to dispose some of that land bank," he said.

Cavendish's Mumford was wary of selling off stores, saying proceeds in the short-term could be offset by rental payments over the longer term.

He said he was a buyer of Tesco's shares around current levels due to the company's dividend yield, its diversification, its international growth opportunities and his belief the profit warning would galvanise its experienced management team.

"It's a bit like tying a firework to the tail of a dog. The dog will start running when you light the fuse," he said.

Tesco shares closed down 1.4 percent at 312.35 pence, having dropped as low as 311 pence -- their lowest since March 2009. The stock yields around 4.6 percent on the basis of its payout for fiscal 2011.

Tesco, the world's third-biggest retailer, said on Friday UK Chief Operating Officer Noel Robbins did not know about the imminent profit warning when he sold around 202,000 pounds of shares and neither he nor the company had broken any rules.

:-))

lol worral thompson recipes... TAKE two eggs, add a PINCH of salt et cetera lol and sleep with your mates wife - its a steal...... LOL

someone else's view :

http://www.huffingtonpost.co.uk/2012/01/11/antony-worrall-thompson-the-lambshank-redemption_n_1198491.html

he may not have "known" but as COO he would or should have had a damn good idea of what the numbers would be like, not least because it is certain that there would have been monthly management accounts or similar, and these would have been discussed at board level, especially at y/e

Chief operating officerFrom Wikipedia, the free encyclopediaJump to: navigation, search
A Chief Operating Officer (or Chief Operations Officer; COO) or Director of Operations (or Operations Director) can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite". The COO is responsible for the daily operation of the company,[1] and routinely reports to the highest ranking executive, usually the Chief Executive Officer (CEO).[2] The COO may also carry the title of President which makes him or her the clear number-two in command at the firm, especially if the highest ranking executive is the Chairman and CEO. In some cases, the duties of COO may be carried out by a sub-C-Suite executive such as a Director of Operations, Operations Director, Vice-President of Operations, or Executive Director.

If he did not know the figures, he should be shown the exit.

he would of known for sure impossible for him not to - if he didnt which i dont believe he must have had his had his head stuck up his backside - the guy knew simple and if he didnt what was he doing there - twiddling his thumbs?! hmmmmmmmmm - on second thoughts...................

Agree gibby, hes like a rabbit been caught in the headlights. Off with his head. :-))

correct :-))))

'

Alright DC, just this once then, anything for a quite life.. I have a very close family member who used to work with the board.