Tesco Stock News

Tesco PLC (LSE:TSCO), the UK supermarket group, is expected to report a first-half adjusted operating profit of £1.725 billion, up 3% year on year, despite weaker UK like-for-like sales. Deutsche Bank analyst Benjamin Yokyong-Zoega has cut his forecast for second-quarter UK like-for-like sales growth to 1.7% from 2.2% following softer market data.

Tesco , Britain's biggest food retailer, has committed £20 million ($26.5 million) to ​a venture capital fund launched ‌by Leon Restaurants co-founder Henry Dimbleby to help drive innovation across the UK ​food sector, it said on ​Thursday.

German discount retailer Lidl's owner Schwarz Group is among the potential bidders for Tesco's TSCO.L Central European ​business as Britain's largest food retailer looks to ‌retreat from overseas markets, the Financial Times reported on Wednesday.

LONDON--(BUSINESS WIRE)--Impossible Foods announced today its long-awaited debut in U.K. supermarkets in collaboration with the region's No. 1 grocery retailer, Tesco. Starting this week, the plant-based protein brand preferred by meat eaters in taste tests will roll out four all-new, flavour-packed products in select Tesco supermarkets across the United Kingdom. “Launching in U.K. retail is a ...

Citi has taken a slightly negative view of Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) after Morrisons' latest quarterly results, warning of intensifying competition among the big supermarkets. Morrisons, the privately owned grocer, reported like-for-like sales up 3.2% in the 13 weeks to 26 July, a measure that strips out the effect of new store space.

UBS has reiterated its 'buy' rating on Tesco PLC (LSE:TSCO), keeping a 12-month price target of 545p and pointing to a share price return potential of 16.45%. Analysts Sreedhar Mahamkali and Angelo Mangieri made the call in a note dated 3 September, with shares trading at 468p at the time of writing.

Shares in Tesco PLC (LSE:TSCO) fell on Wednesday after Shore Capital downgraded Britain's largest supermarket group for the first time in more than three years, arguing the shares have run far enough for now. The stock was down 2.6% at 449.7p in late morning trading, valuing the FTSE 100 company at roughly £28 billion.

Shares in J Sainsbury PLC (LSE:SBRY) and Tesco PLC (LSE:TSCO) nudged lower in morning trading after figures showed the heatwave continued to weigh on shopper numbers in July. Total UK footfall fell 2.1% on a year earlier, according to data from the British Retail Consortium (BRC) and Sensormatic, which tracks visitor numbers to retail locations.