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).

Interim Management Statement.

"Tesco has made a good start to the new financial year, despite consumer sentiment in many of our key markets remaining subdued. The overall performance of our businesses in Asia and Europe has again been pleasing, led by further strong growth in Thailand and across our Central European region. Uncertainties remain but with early, encouraging signs of better performance emerging in both the UK and the US, I am confident that this start will provide the platform for another year of growth and rising return on capital employed for Tesco.

We're also making progress with our strategy: improving the shopping trip for customers; increasing productivity; winning market share - whilst at the same time investing for long term growth in important new products, new space and in our online capability."

Looking good, and with the FTSE opening up 30 points lets hope a lot of blue today.

Bloomberg reckon Tesco will fall today as it missed estimates.

They were right lets hope blue later today.

Part of the broker note from Arden:
Tesco is a huge global beast, but it is judged by its UK performance and the news that UK LFL was still slightly negative (by 0.1%), on an ex-VAT and ex-petrol basis, is disappointing, despite a better outcome in Food (albeit May was clearly more subdued). The problem remains Non-Food, with the FD talking about a 5% LFL fall in this area in Q1 in the UK. On the 8am conf call, Tesco said that Clothing had improved in the period, but it sounds like Electricals and Entertainment is still tough and it will be interesting to see how Tesco reallocate non-food space in the autumn when the new ranges come in. Fortunately, UK new space growth at 4% was pretty good and Overseas sales growth (bar Eire) was good. Next week Tesco are a taking a leaf out of Kingfishers book and showing analysts around Poland (as well as Czech and Slovakia). It will of course be interesting to see what rival Sainsbury say tomorrow about how poor May and June has been in the UK(Tesco say that it hasn't been as bad as March).

Looks like shorters have it today and with the strikes coming it is goo to be short, little good news coming.

Tesco avoids shareholder rebellion over pay

tweet0Print..Companies:TESCO PLCTopics:Board & Management ChangesRetail.Related Quotes
Symbol Price Change
TSCO.L 400.00 -2.00


{"s" : "TSCO.L","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} James Hall, 17:22, Friday 1 July 2011

Tesco (LSE: TSCO.L - news) , the UKs biggest supermarket, avoided a bloody nose from shareholders at its annual meeting in Nottingham on Friday, with just 3.3pc of investors refusing to back its remuneration report.

The supermarket said that investors representing 162m shares voted against - or withheld their votes on - the directors remuneration report. Investors representing 4.9pc of shares refused to back a resolution to re-elect chief executive Phil Clarke as a director, while investors representing 11.8pc of shares refused to authorise directors to allot shares.

The relatively clean break follows a recent move by Tesco to radically alter the remuneration policy for its top executives. This followed an investor rebellion at the supermarket groups annual shareholder meeting last year, when 47pc of shareholders who voted refused to back its remuneration report.

In a bid to avoid further controversy, Tesco has removed executive share options from directors pay packets - replacing them with a performance share award - and has ditched its four long-term incentive plans and replaced them with a single plan.

All executives, including the chief executive and the US chief executive, will now participate in the same plans going forward.

Under the new plan, Mr Clarke had his base salary pruned. He will receive a base salary of 1.1m, which is 23pc lower than the 1.4m base salary that his successor Sir Terry Leahy received last year.

However, under the new scheme Mr Clarke could still receive a maximum pay package of 6.9m this year.

Tesco said that the simpler system had been implemented following an extensive review and consultation with shareholders. The move reflects a collegiate approach to remuneration, it said.

While its previous plans used five separate measures to determine success, the new plan will use just two performance measures; return on capital employed and earnings per share. The number of performance measures that Tesco uses for its annual bonus will also be reduced, from more than 20 to seven.

When the new scheme was unveiled a Tesco spokesman said: At last years AGM points were raised about remuneration and we undertook to consult shareholders and that is what we have done.

RNS Number : 6184L

London & Stamford Property PLC

03 August 2011

03 August 2011

LONDON & STAMFORD PROPERTY PLC

("London & Stamford")

Acquisition of Tesco Distribution Unit, Harlow for GBP22.9m

London & Stamford Property Plc (LSE: LSP.L) announces that it has exchanged contracts to purchase a distribution unit in Harlow for GBP22.9m (excl. costs), reflecting a property yield of 7.5%.

The property comprises a 273,115 sq ft distribution warehouse located in Harlow, four miles from the M11 and seven miles from the M25. The warehouse is leased to Tesco Stores Ltd. The unexpired lease term for a further 12.5 years to Tesco Stores Ltd is guaranteed by Tesco PLC. Tesco uses the facility to distribute to its stores in London and the South East.

The acquisition will be added to the existing South Eastern distribution assets held in a joint venture with Green Park Investments. It is anticipated that once leverage is applied the cash yield will be 12.07%. London & Stamford's equity commitment is expected to be GBP4.78m.

Raymond Mould, Chairman of London & Stamford Property, said:

"This acquisition sits very well with London & Stamford's existing distribution investment portfolio. It is a high quality asset offering an excellent cash yield combined with a secure tenant and in a prime location.

Beats me how this stock is so low. Everybody tips it, Stores full of punters, pay a pittance of a wage in Asia. Held it for two years and is worth 20% less than I paid.

Bernie nobody likes them they have poor public relations, screw their staff and shareholders, why buy their shares when they pay a "pittance".

"nobody likes them....." then why do so many people shop there, have their insurance, mobile contract, broadband, car hire, banking, loans etc etc with them?
It's a very well run british business, which may have a too big a profile on the high street, with too much buying power, but it's highly profitable and professionally run. As for 'screwing their staff (in the UK)', I totally disagree and have experience which refutes that. I do agree that investors are not getting much of a reward for a stock which is not meant to be cyclical, but it has held up much better than the more speculative stocks in the current conditions.

I hope the rumour that they are sniffing around Booker is true. Maybe they see extra business supplying trade customers.

Bernie Bookers is "small beer" to Tesco the only reason for them to contemplate a takeover is as usual to eliminate competition,we have nothing but contempt for a company that continuously exploits its employees and the communities it purports to serve. Perhaps it might be a good idea if they told the general public how much they give back to the communities they have destroyed.

Wow halifax bet you don't shop at Tesco.

�1 in every �8 spent on shopping goes through a Tesco till.

Is that a royal "we" Halifax?
I'd have to support Harrycat - I know a number of Tesco employees happy with their employer. However the success of TSCO has resulted in the image of a mega steamroller and TSCO also is most closely associated with the death of small retailers on the high street. Personally I'm not a sentimental investor or consumer so I hold the shares and a clubcard.

To late arguing now, when the monopolies board let them expand into everything from A to z. I am afraid the high street will pay the price.

RNS Number : 9333M

Tesco PLC

24 August 2011

24 August 2011

TESCO PLC

TESCO ANNOUNCES BOARD CHANGE

Tesco PLC today announces that Andrew Higginson, Chief Executive of Retailing Services, has informed the company of his intention to retire from the Board and Executive Committee next year, on 1 September 2012.

Chief Executive Philip Clarke said "I'd like to thank Andy for his contribution to the growth of Tesco over the last 14 years. Andrew was an outstanding Finance and Strategy Director from 1997 until 2008. He also made an important contribution to our moves into Asia and onto the internet. From 2008 in his Services role he has led the development of Tesco Bank and the extension of our online offer both to general merchandise and clothing and to Korea and Ireland. I respect Andy's decision to move on and am grateful that he has given me sufficient notice to effect proper succession planning."

Andrew Higginson added "I have had a wonderful career with Tesco, and am very proud of the part I have played in the company's success. Next year, I will be 55 and will have completed 15 years on the Board of this great company. We will have completed the creation of the Bank as a standalone entity, and that seems an appropriate moment to hand over, and move on to the next phase of my career."

ENDS

TSCO is one of the most boring stocks I have owned.

Try HICL!

RNS Number : 2973N

Tesco PLC

31 August 2011

31 August 2011

Tesco to sell Japan business

Tesco has today announced its decision to sell its business in Japan.

Philip Clarke, Chief Executive Officer of Tesco Plc, said:

"We have reviewed our portfolio in Asia and the performance of our business in Japan. Having made considerable efforts in Japan, we have concluded that we cannot build a sufficiently scalable business.

"We have decided to sell our operations there and focus on our larger businesses in the region, in line with our priority of driving growth and improving returns. I want to thank our colleagues in Japan for their continued dedication to the business.

"With good stores in good locations across Greater Tokyo, we will be undertaking a formal sale process over the coming months and the business will continue to trade as usual in the meantime."

Japan is the smallest of Tesco's international retail businesses. The company operates 129 small stores in the Greater Tokyo area under the Tsurakame, Tesco and Tesco Express formats. Over half of the stores are profitable and Tesco has also developed a strong own label range and a fresh kitchen to supply fish and other products to its stores.

Ends