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).

JP Morgan Cazenove Neutral 364.68 425.00 390.00 Downgrades

Exane BNP Paribas Neutral 364.68 375.00 375.00 Reiterates

Deutsche Bank Buy 364.68 440.00 440.00 Retains

Horsemeat scandal and intense competition from rivals sends Tesco sales into a slump

Underlying sales for first three months of 2013 forecast to have fallen 1%

Financial results will pile more pressure on chief executive Phil Clarke

Tesco has more than 6,700 stores worldwide, including 3,146 in the UK

Supermarket giant Tesco will be forced to defend its recent record after sales again slid backwards following the horsemeat scandal and intense competition from rivals.

The retailer will come under close scrutiny from investors when it reports financial figures for the first three months of the year on Wednesday.

City analysts reckon Britain’s biggest grocer will say underlying sales for the period will have fallen by up to 1 per cent, piling more pressure on chief executive Phil Clarke.

FIRST QUARTER INTERIM MANAGEMENT STATEMENT

· Group sales growth +2.7% (excluding petrol)
· 'Building a Better Tesco in the UK' on track - improving customer perceptions on all key measures
o Positive and improving LFL in all food categories with the exception of frozen and chilled convenience foods
o LFL held back by accelerating work to refocus general merchandise
o Online grocery continuing to outperform the market
o Refreshed stores performing ahead of plan
· In a challenging environment, Asia and Europe performance similar to Q4 last year

Credit Suisse Outperform 350.15 430.00 430.00 Reiterates

Prime Markets Sell 350.15 - - Reiterates

Shore Capital Buy 350.48 - - Reiterates

Jefferies International Buy 350.48 440.00 440.00 Retains

JP Morgan Cazenove Neutral 350.48 390.00 390.00 Reiterates

Deutsche Bank Buy 350.48 440.00 440.00 Retains

Exane BNP Paribas Neutral 350.48 375.00 365.00 Reiterates

I think my sale at 366p was a good choice.,.

Nice one Balerboy.

It looks like the shares could bounce at 340p due to resistance in that area in September and December last year.

Hopefully the shares will fall to the low 300's again soon and we can buy more then.

At long last someone has spoken out about Leahy and the damage he has done at Tesco. What I have said a year ago.


Former Tesco chairman Lord MacLaurin blasts Leahy for damaging legacy of failed US venture



http://www.dailymail.co.uk/money/markets/article-2350895/Former-Tesco-chairman-Lord-MacLaurin-blasts-Leahy-damaging-legacy-failed-US-venture.html

Back in this one - Chart looking positive - just moved above the 25 MA

Been watching this one to Nar1, early bird catches the worm and all that but waiting till crosses 200DMA (green line). Limit buy on the spreads @ 352.0 tight stop.

hhhhmmm not a bad idea CC -

Time to get in Chris ;)

Aye fingers crossed mate, nearly there :O)

I've just take a SB position here - its showing strength on an otherwise down day.

Hoping for a close @ that 200ma.

Exane Paribas lifts TSCO to outperform from neutral, target raised from 365p to 385p.

Lets see where it goes Skinny chart is looking more positive - Chris you still waiting or taken a position ?

Limit not triggered today Nar - knowing my luck sp will open 10 points past it in the morn :O)

should be ok

Chris almost there for you - need it really to close above the 200 dma

Trade triggered yesterday at the open Nar, up today just need some volume.