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).

http://www.gurufocus.com/news/160915/tesco-plc--does-the-new-reality-checkout

Meanwhile, the price swing continues............

Harrycat
a bit late in responding as i was away. Garages are always pormoting Major brands as that is the only fuel they can get their hands on due their resp . turnover at the pump. So obviously they are protecting their business as much as they can

tesco's new wheeze advertise jobs with no pay, their PR people must be really pleased..... if they have any.

Just come up on twitter...

Broker Tips @BrokerTipsUK

FavoritedFavorite · Close Open Details TSCO | Buy (Nomura, Reiteration) | TP: 430p

Broker Buy.

TESCO FTSE 100 Consumer, Non-cyclical Buy 400 320 25.0% Jefferies

BUY target SP 400p 25% gain.

http://www.guardian.co.uk/business/feedarticle/10102922

Broker Upgrade.......

TESCO FTSE 100 Consumer, Non-cyclical Equalwt/Positive 360 316.65 13.7% Barclays Capital

Target SP 360p % increase 13.7%

Tesco eyes majority stake in S.Korea Hi-Mart-sourcesReuters, Thursday February 23 2012
* Tesco's S.Korea unit Homeplus had $4.62 bln sales in Q3-filing
* Hi-Mart 2012 EBITDA forecast at $343 mln-Thomson Reuters data
* Private equity firms interested, but financing hard - sources
* Hi-Mart shares hit session high, buck weakness in broader mkt (Adds quotes from source and analyst; updates share price)
By Denny Thomas and Prakash Chakravarti
HONG KONG, Feb 23 (Reuters) - Tesco Plc, the world's third-biggest retailer, may bid for a controlling stake valued at about $900 million in South Korean electronics retailer Hi-Mart Co Ltd, two sources with knowledge of the matter said, as the British grocer eyes growth markets to offset challenging times at home.
Disposable incomes across much of Europe are being squeezed by rising prices, muted wage growth and government austerity measures, with consumers also worried about the fallout from the euro zone sovereign debt crisis. Those challenges led to Tesco issuing its first profit warning in living memory last month.
Retailers such as Tesco are thus looking to diversify revenue streams into Asia, where retail spending is considerably higher due to stronger economic growth.
The news of Tesco's likely interest in the auction boosted Hi-Mart shares as much as 2.4 percent, bucking a 1 percent fall in South Korea's benchmark share index. The stock ended up 1.7 percent.
Tesco shares were up 0.7 percent in morning trade in London.
"It's a good cash generating business to attract Tesco. But how serious Tesco is remains to be seen," one of the sources said.
The top three shareholders of Hi-Mart, including Eugene Corp , have appointed Citigroup Inc to advise on the sale. The 57.6 percent combined stake up for grabs is worth about $900 million based on Hi-Mart's latest share price.
The auction is largely attracting interest from South Korean domestic retailers, though some private equity firms are exploring options. Sources say private equity may find it hard to finance the deal.
The eventual winner is looking to benefit from robust retail sales is Asia's fourth-biggest economy. Although South Korea's economy is running out of steam due to the euro zone debt crisis, retail sales rebounded in December.
First-round bids for Hi-Mart's stake are due before the end of this month, said the sources, who declined to be identified as they were not authorised to speak publicly about the matter.
Tesco declined to comment.
"Hi-mart is the leader in electronics retail business, so it has some competitive edge and specific channels which potential buyers don't have," said Hong Sung-soo, an analyst at NH Investment & Securities.
WILL PRIVATE EQUITY BID?
Tesco already has exposure to the South Korean market through its fully-owned subsidiary Homeplus, which operates 125 large retail stores and 267 supermarkets. Tesco operates more than 5,300 stores in 14 countries.
Unlisted Homeplus recorded 5.2 trillion won ($4.62 billion) in sales for the third quarter of 2011 and 301.5 billion won in operating profit for the same period, according to a recent regulatory filing.
A $900 million investment for Tesco is insignificant relative to its overall size, given Tesco generates about $1.85 billion in weekly revenues. But the decision on whether to bid or not will hinge on how competitive the auction gets.
South Korean retailers Shinsegae Co Ltd and Lotte Group are considering bidding for the stake. However, GS Retail said on Feb. 2 that it had decided not to pursue the deal after initially showing interest in the process.
Hi-Mart, which has 301 branches nationwide, recorded an operating profit of 257.4 billion won ($228.6 million) for 2011, according to a recent regulatory filing.
Its earnings before interest, tax, deprecation and amortisation (EBITDA) is forecast to be $343 million for the year to December 2012, according to Thomson Reuters estimates. Usually, retail businesses are sold at about 8-9 times EBITDA multiple, which translates to an enterprise value of $3.1 billion.
The planned sale of the controlling stake comes less than a year after Hi-Mart was floated on the South Korean stock exchange.
Hi-Mart was previously owned by Pan Asia buyout fund Affinity Equity Partners, which sold its investment in 2008 in one of the most highly profitable exits in Asia.
Some private equity firms are also interested in buying the stake, sources said, although financing is seen as a challenge as it does not involve a complete buyout of Hi-Mart.
Banks usually prefer to lend to private equity firms that are involved in total buyout situations. For instance, in April 2005 Affinity raised 412 billion won through a leveraged buyout financing to fund its 100 percent buyout of Hi-Mart. Affinity's initial investment of $200 million in Hi-Mart returned around $2.1 billion when it exited in 2008. ($1 = 1125.9750 Korean won) (Additional reporting by Ju-min Park in SEOUL, James Davey in LONDON and Stephen Aldred in HONG KONG; Editing by Chris Lewis and Muralikumar Anantharaman)

Tesco takes stock as market share falls. Tesco has taken further dramatic steps to stop the rot in its home market by replacing its uk marketing boss.
Carolyn Bradley was being moved from promoting the retailers troubled british arm to being incharge of brands. Fresh data shows it is still losing grip of shoppers.
It has seen its dominance in Britain fall to its lowest level in almost seven years.
Tesco market share slipped to 29.7% over the 12 weeks to Feb 19th.
It has been dire for Phil Clarke for 12 months with Tescos first profit warning
for 20 yrs. He also saw the failure of £500m price-cutting campaign to kick start growth, as rivals stole the show during the festive period.
David wood has been drafted in to replace Bradley. He is currently commercial
director in Hungry.

Last updated: February 28, 2012 5:13 pm

Tesco shakes up UK marketing team
By Andrea Felsted, Senior Retail Correspondent
Tesco has shaken up its domestic marketing operations in the wake of its recent profit warning, as its UK market share fell to its lowest level since 2005.

Mor
Tesco is parachuting in David Wood, the commercial director of its business in Hungary, into the role of UK marketing director.

He replaces Carolyn Bradley, who moves to the new role of group brand director, working on marketing for the Tesco group and reporting to Tim Mason, deputy chief executive and chief marketing officer.

People close to the situation denied that the reshuffle was linked to the group’s first profit warning in 20 years, prompted by the worst trading in its UK business for decades.

But Ms Bradley had been under pressure since the warning, and the failure of Tesco’s flagship £500m price-cutting campaign to lift sales. Philip Clarke, chief executive, said when he announced the profit warning that the so-called Big Price Drop had been undermined by rivals’ coupons and vouchers.

However, some seasoned Tesco watchers have suggested that it was Tesco’s strategy for the UK, rather than the marketing of it, which was behind the poor sales over the crucial Christmas and new year trading period.

Mr Wood, who has a background in marketing and brand management, previously worked for Kraft and Unilever. He has also held other senior roles within Tesco. He will also replace Ms Bradley on the UK operating board.

The move is the second senior management change in Tesco’s UK business in a month. Bob Robbins, UK chief operating officer, who sold £200,000 of shares a week before the profit warning, is also moving from his role.

The people added that the move did not mean that Mr Mason, who is also chief executive of Tesco’s US business, would be spending more time on UK marketing. He already spends about a third of his time outside of Fresh & Easy.

The shake up comes as industry data from Kantar Worldpanel, the consumer research group, showed that Tesco’s market share fell to 29.7 per cent in the 12 weeks to February 19, the lowest level since May 2005.

However, in the four weeks to February 19, Tesco’s sales improved, growing by 3.6 per cent, behind Asda and J Sainsbury, but ahead of Wm Morrison, which saw its sales growth slow to 3.5 per cent. Tesco’s sales of groceries rose 5 per cent in the four-week period, second only to Asda, indicating that recent voucher promotions were paying off.

Asda enjoyed the strongest sales growth of the so-called big four supermarkets in the 12-week and four-week periods, buoyed by the conversion of Netto stores acquired 18 months ago.

The personnel changes at Tesco also come as Britain’s biggest supermarket chain by market share battles to revive its UK business. On Monday the group launched the fourth wave of the Big Price Drop, and Mr Clarke is expected in April to reveal a £300m turnround plan for the UK business, including investment in stores but also prices and promotions.

TESCO TO CREATE 20,000 NEW JOBS

Tesco announced today that it will create 20,000 new jobs in the UK over the next two years through a significant investment in customer service, refreshing existing stores and opening new ones.

At the heart of this programme, Tesco plans to deliver new levels of excellence in customer service across its stores. Starting immediately, Britain's top retailer will invest significantly in additional staff hours and training to boost the customer experience - including on fresh produce, fresh meat, bakery and the counter services that customers value the most.

The new jobs announced today also reflect a substantial programme to refresh hundreds of existing stores, improving space and layout and the overall shopping experience, as well as opening new stores.

In strengthening its customer service team by 20,000 new recruits, Tesco expects to focus on giving opportunities to young people currently unemployed. As well as providing a crucial first rung on the career ladder for each individual, this move will be a major step in tackling the current record levels of youth unemployment.

Tesco will also give young people the opportunity to carry on learning by expanding its apprenticeship programme to provide 10,000 apprenticeships, with a significant proportion for new starters.

These announcements are the first stage in Tesco's planned new investment in the UK business.

Welcoming the announcement of jobs and investment, Prime Minister David Cameron said: "This is a massive confidence boost for the UK economy. Tesco is one of the world's leading companies and the biggest private sector employer in this country. Their commitment to creating jobs and opportunities for young people at what is a difficult time for the economy is fantastic news for the UK as a whole and for those people they will help into work."

UK CEO Richard Brasher said:

"In unprecedented economic conditions like these, major businesses have a big responsibility to step forward, invest and create jobs. Today's announcement is a huge shot in the arm for the UK economy.

"At the core of this investment is our determination to deliver the best shopping experience for our customers, bar none. We will invest in more staff on the sales floor at busy times, greater expertise and help in the crucial areas of fresh food, and enhanced quality and service across our stores at all times.

"To deliver this we're going to strengthen our customer service team - 20,000 more staff across our stores over the next two years.

"With youth unemployment at record levels, we're determined to target many of our new jobs at young people currently out of work - so that in this difficult jobs market those who need help the most will get it.

"Our investment is a win-win for customers, unemployed young people and the UK economy as a whole."

Tesco is the country's largest private sector employer with over 290,000 staff, and 70,000 young people under the age of 25 - a quarter of its workforce.

Tesco ensures that its people continue to develop and learn new skills at every level and offers a leading pay and benefits package - the first supermarket to break through the GBP7 per hour barrier for store staff last year.

ENDS

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.....