J Sainsbury PLC (LSE:SBRY) is likely to lose out from Tesco PLC's (LSE:TSCO) signing up for Uber Eats and Deliveroo deliveries, according to an analysis by Citi. Britain's largest supermarket announced on July 21 that it would launch on both delivery platforms later this summer.
Tesco PLC's (LSE:TSCO) new partnerships with Uber Eats and Deliveroo offer another route for the supermarket to expand its online business profitably, according to analysts at Citi. The UK's largest grocer said yesterday that it will launch on Uber Eats from August and join Deliveroo later in the summer, giving customers access to groceries through two of the UK's largest delivery platforms.
Currys PLC (LSE:CURY), Tesco PLC (LSE:TSCO) and Kingfisher PLC (LSE:KGF) were among the retailers tipped to benefit from signs that UK consumer spending strengthened in June, while Primark owner Associated British Foods PLC (LSE:ABF) could be one of the main loser as shoppers increasingly bought online. Analysts at Citi said industry data from the British Retail Consortium and Barclaycard point...
Tesco PLC (LSE:TSCO) reported first-quarter sales that met expectations but disappointed on underlying store traffic, prompting divergent views from major brokers on the supermarket's near-term prospects. The grocer's UK like-for-like sales, which strip out new store openings and closures, increased 1.8% but fell 50 basis points short of consensus expectations, reflecting what Citi described as...
Tesco PLC's (LSE:TSCO) first-quarter update showed a slowdown in sales growth, but for investors keen to look behind the numbers, analysts had lots of good explanations. The country's biggest supermarket chain reported like-for-like sales growth at 1.8%, down from 3.1% in the previous quarter and well below the 5.1% delivered in the comparable period last year.
Tesco PLC (LSE:TSCO) reported a slowdown in first-quarter sales growth but maintained profit guidance for the current financial year after a strong performance in its core UK business. The UK's largest grocery chain said sales excluding VAT and fuel rose 1.0% to £16.8 billion in the 13 weeks to 30 May.
The company reported online growth of 8.9% in the U.K and of 17% in Central Europe.