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Tesco PLC Ord 5P (TSCO)

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05-May-2015 03:06 PM

Two Tesco directors to stand down

Two directors of Tesco are to stand down at next month's AGM. They are Ken Hanna, who has served on the Board for six years and Stuart Chambers, who became a director five years ago. At 3:06pm: (LON:TSCO) Tesco PLC share price was +2.33p at 227.3
22-Apr-2015 07:23 AM

One-off charges of £7bn at Tesco

Tesco has announced that Group trading profit in the year to February 2015 was £1.4bn, in line with expectations. UK like-for-like sales volumes were up for the first time in over four years, driven by better availability, service and pricing. There w
23-Mar-2015 10:11 AM

Patrick Cescau to leave the Board at Tesco

Tesco has announced that Patrick Cescau, its senior independent director, has decided to retire from the Board next month. He has been a non-executive director for six years and has successfully led the search for the Company's new chairman. Richar
04-Mar-2015 10:08 AM

Tesco appoints Byron Grote as non-exec director

Tesco said Byron Grote will join the board as a non-executive director with effect from 1 May 2015. Gareth Bullock is retiring from the main Board to enable him to devote more time to his role on the board of Tesco Bank where he will continue as a non-exe
26-Feb-2015 11:07 AM

Board changes at Tesco

Tesco has announced two Board changes which take effect at the end of the current financial year at the end of this week. Having completed six years on the Board, Jacqueline Tammenoms Bakker has indicated her wish to retire and Liv Garfield will also le
08-Jan-2015 07:26 AM

Tesco's LFL sales growth dips in 19wks to Jan. 3

Tesco's like-for-like group sales growth, including VAT and excluding fuel, was -2.7% in the 19 weeks to Jan. 3, with those in UK, Asia, Europe and internationally all slipping lower. Sales growth, including VAT and excluding fuel, in Asia were wors
09-Dec-2014 07:23 AM

Tesco warns on FY profit

Tesco said on the basis of the changes and investments made to date it now anticipates FY group trading profit will not exceed £1.4bn. "Tesco is focused, and will continue to focus, on doing the right thing for customers. This means running our bu
29-Oct-2014 02:27 PM

Tesco faces fraud probe

Tesco has confirmed that the Serious Fraud Office has started an investigation into accounting practices at the company. Tesco says it has been cooperating fully with the SFO and will continue to do so. Tesco added that it had been notified by the Fin
23-Oct-2014 09:10 AM

Tesco Personal Finance H1 pretax profit falls

Tesco Personal Finance booked an H1 pretax profit of £80m, down 23.6% from a year-earlier profit of £104.7m. Total underlying income totalled £393.7m, up 10% from £355.5m. The Banking business continues to focus on enhancing the product range, ensuri
23-Oct-2014 07:31 AM

Tesco H1 pretax profit plunges

Tesco's H1 pretax profit plunged 91.9% to £112m, from £1.39bn previously. Sales were down 4.4% to £34.01bn, from £35.58bn. It proposed an interim dividend of 1.16p a share. "The issues that have come to light over recent weeks are a matter
06-Oct-2014 07:17 AM

Tesco appoints two new directors

Tesco said Richard Cousins and Mikael Ohlsson will join its board on Nov. 1 as Non-executive Directors. Cousins has been Group CEO of Compass Group PLC since 2006. He was a Non-executive Director of Reckitt Benckiser Group PLC from 2009 until May 2014
23-Sep-2014 07:38 AM

Gaffe-hit Tesco's new CFO to join early

Tesco said incoming chief financial officer Alan Stewart will join the supermarket titan today, rather than on Dec. 1 as previously planned. Separately, Marks and Spencer (MKS) said Stewart's employment as CFO there would formally terminate today. H
22-Sep-2014 07:28 AM

Tesco guidance for H1 profits overstated by c.£250m

Supermarket giant Tesco said on the basis of preliminary investigations into the UK food business it believes the guidance issued Aug. 29 for the group's profits was overstated by an estimated £250m. "Some of this impact includes in-year tim
11-Sep-2014 02:33 PM

Tesco Bank will move to England if Scots vote 'Yes'

Tesco Bank will move its registered headquarters to England if there is 'Yes' vote in the Scottish independence referendum. A statement said: "To ensure we provide long term continuity for customers after the transition is complete, our co
01-Sep-2014 07:26 AM

Tesco's CEO starts earlier than planned

Dave Lewis, the newly appointed CEO of Tesco, the UK's largest retailer, has started his job today - a month earlier than planned. This follows another profit warning from Tesco issued on Friday when it reported that profits were now expected to be
29-Aug-2014 09:40 AM

Tesco warns

Tesco (TSCO) said the combination of challenging trading conditions and ongoing investment in its customer offer has continued to impact the expected financial performance of the Group. "The business continues to face a number of uncertainties, incl
28-Jul-2014 04:11 PM

Tesco confirms start date for CFO

Tesco has confirmed that Alan Stewart will join the board as chief financial officer with effect from 1 December. At 4:11pm: (LON:TSCO) Tesco PLC share price was -2.05p at 268.3p Story provided by
21-Jul-2014 07:16 AM

Tesco's CEO to depart after profit warning

Supermarket giant Tesco (TSCO) said current trading conditions are more challenging than anticipated in its Q1 interim management statement, adding CEO Philip Clarke is to depart the company. Clarke -- whose departure was announced alongside news that Te
10-Jul-2014 12:07 PM

New CFO at Tesco appointed

Tesco has announced that Alan Stewart will join its Board as chief financial officer. Mr Stewart has extensive financial experience in retail as CFO at Marks & Spencer and at WH Smith. He started his career in investment banking with HSBC. He became CF
27-Jun-2014 04:20 PM

Tesco AGM resolutions pass

Supermarket operator Tesco (LON:TSCO) announces that the resolutions proposed at the Annual General Meeting of the Company held on 27 June 2014 were passed by shareholders. At 4:20pm: (LON:TSCO) Tesco PLC share price was -1.17p at 284.03p Story provi
04-Jun-2014 07:19 AM

Tesco sales continue to fall as price war bites

Supermarket operator Tesco said today that UK like-for-like sales, including VAT but excluding petrol fell 3.7% in the first quarter, while group sales were down 0.9% at constant currency rates, excluding petrol. Tesco said it was a quarter of significan
16-Apr-2014 07:16 AM

Tesco full-year trading profits fall as margins are squeezed

Supermarket operator Tesco said group trading profit was £3.315bn in the year to 22nd February, down 6% on last year, impacted by a weakening UK grocery market in the second half and challenging trading conditions overseas. Group sales, including VAT, i
26-Feb-2014 02:52 PM

Broker News & Views

Jefferies International reiterates buy on Tesco, target price cut from 440p to 375p. Nomura reiterates neutral on Tesco, target price cut from 350p to 310p. Credit Suisse lifts Bunzl to neutral from underperform, target raised from 1000p to 1530p. Morga
10-Jan-2014 01:55 PM

Broker News & Views

HSBC reiterates underweight on Morrison, target cut from 260p to 200p. Citigroup reiterates neutral on Morrison, target cut from 280p to 250p. Beaufort Securities cuts Tesco to sell from hold. Beaufort Securities cuts Morrison to sell from buy. HSBC r
09-Jan-2014 07:10 AM

Weak grocery market pushes Tesco like-for-like sales down

Supermarket operator Tesco said further weakness in the UK grocery market contributed to a decline in UK like-for-like sales performance. In the UK, total sales including VAT and petrol declined by 1.5%. o Over £1bn taken in the five days before Christ
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