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).

Just bought 100 shares in PNL for the 140p div............ ;)

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Tesco Lotus property fund IPO priced at top end of range following strong investor demand

Fund raises over THB18bn (£379m), making it Thailand's largest ever property fund IPO and biggest IPO since 2006

Ek-Chai Distribution System Co., Ltd. (Tesco Lotus), Thailand's leading retailer and shopping mall operator, today announced the final offering price for the Initial Public Offering (IPO) of its Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) at THB 10.40 (£0.21) per unit, at the top end of the pricing range of THB9.65 (£0.20) to THB10.40 (£0.21), due to strong demand from institutional and retail investors.

The IPO will raise approximately THB 18.4bn (£379m), making it Thailand's largest ever IPO of a property fund, and the country's biggest IPO in more than five years. The expected total distribution for the first year is 6.5%.

The offer attracted significant interest from global institutions and was heavily oversubscribed, with the institutional offering (special investors' tranche) excluding the cornerstone approximately 15 times covered.

Despite volatility in the global market, TLGF's strong investment thesis and outstanding growth potential attracted a number of global institutions as well as local retail investors. The total number of retail subscribers, at more than 10,000, is the highest in the history of property fund IPOs in Thailand. Due to the overwhelming demand from retail investors, Tesco Lotus, along with Phatra Securities, Bank of America Merrill Lynch, Nomura and Royal Bank of Scotland as joint bookrunners have decided to increase the retail allocation to approximately 597.8 million units, against the original size of 442.5 million units, resulting in local retail investors holding approximately 34% of the total units. This will allow a higher proportion of Tesco Lotus customers, employees, trade partners and the general public to be a part of the retailer's future success. Tesco Lotus will subscribe to 25% of the total units, making it the single largest unitholder of the fund, while global and Thai institutional investors will hold the remaining 41% of the total units.

Laurie McIlwee, Tesco Plc's Chief Financial Officer, said: "The successful pricing of the IPO of our Thai property fund at the top end of the pricing range clearly demonstrates the successful implementation of our strategy of recycling capital from property to fund innovation and growth for our customers and investors."

John Christie, Tesco Lotus Chief Executive Officer, said "The exceptional success of the TLGF IPO demonstrates investors' confidence in the fund. I would like to thank our IPO investors and welcome them to be a part of Tesco Lotus' continued success."

Tesco Lotus Retail Growth Freehold and Leasehold Property Fund will be registered with the Office of the Securities and Exchange Commission on 13 March 2012. The property fund will commence trading on the Stock Exchange of Thailand on 19 March 2012 under the property fund industry group, with the ticker "TLGF".

Ends

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9121175/Tesco-sales-improve-as-discounts-draw-in-shoppers.html

Tesco chief vows to step up giant's overhaul

1By Jamie Grierson
Wednesday, 7 March 2012


The boss of Tesco said it could take 18 months for the supermarket giant to move ahead of its rivals as he moves to reset the business after years of tough trade.
Philip Clarke told a daily newspaper he plans to cram a three-year overhaul into the next 12 months, including a raft of initiatives dealing with online, price and home delivery.

The chief executive, who replaced Sir Terry Leahy last year, said: "We had a three-year plan for the UK, but now we're going to do it all in 2012. This is the beginning of a big change."

His comments comes after Tesco said it would create 20,000 jobs in the UK over the next two years in customer service, refreshing existing stores and opening new ones.

Mr Clarke also said the group's US arm Fresh -amp; Easy could break even later this year after racking up around £700m in losses since its 2007 launch.

The Liverpudlian admitted Christmas had been disappointing after its Big Price Drop campaign flopped, prompting a £5bn slump in its market value.

The grocer has lost market share as it triggered a price war with rivals, including Sainsbury's Asda.

Mr Clarke said: "Last summer was tough as we were diagnosing what had gone wrong in the UK, testing ideas. Christmas wasn't great, but it hasn't been great for two or three years."

"It's fairly obvious to me that we had been asking our colleagues to do too much. Now they can get ahead again."

Tesco is being supported by a strong performance in its overseas operations. Mr Clarke said Tesco is now market leader in Slovakia, Hungary, Thailand, Malaysia and Ireland.



Read more: http://www.belfasttelegraph.co.uk/business/business-news/tesco-chief-vows-to-step-up-giants-overhaul-16127577.html#ixzz1onRmAjnr

The chief executive, who replaced Sir Terry Leahy last year, said: "We had a three-year plan for the UK, but now we're going to do it all in 2012. This is the beginning of a big change."

I bet some big guns have said they are not happy taking 3 years. I should think this is make or break for Clarke. He clearly did not see these problems infront of his nose.
I would guess he is under a lot of pressure. Also as he puts it it will take 18 months to
move ahead of its rivals. Does he think the rivals will sit still for the next 18 months
and watch Tesco gain market share. I DONT THINK SO. Going to be a tough job.
As i have said before look forward to the next set of results and so will the city.

I would like to think that a rise in the value of the sp is due....

http://www.guardian.co.uk/business/2012/mar/13/tesco-pension-changes-work-longer-cpi

Tesco bebe is up a bit.....just has to climb further.....

Tesco's UK Boss 'To Quit Over Poor Sales'




http://uk.news.yahoo.com/tescos-uk-boss-quit-over-poor-sales-221236200.html

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Sky News city editor Mark Kleinman said: "What this all adds up to is a sign that all is not well at Tesco

http://www.ft.com/cms/s/0/16308974-6e2e-11e1-b98d-00144feab49a.html

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For Gods sake Dream get a grip. Sure Tesco are having it rough at the mo, are they likely to go bust? I don't think so! What's with the constant deramping are you bored. Stick to your daily ramping of Range Resources your good at that mate, yawn!

Thats not the point cc

So exactly what is the point DC?

You do get bitter, i cannot help bad news

DC - Trust me I am not bitter, just bored with your constant drivel. :O)

Taken my drivel off cc

No offence meant DC.