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Tesco flexes market share and volume growth despite weaker wholesale business
Tesco PLC (LSE:TSCO) said it underwent a fourth consecutive quarter of market share gains in the first three months of the financial year, helped by growing volumes, despite mixed sales in the period. The country's largest supermarket increased its market share by 59 basis points to 27.6%, helped by growth in all its channels including food sales which rose by 5.1% year-on-year and was helped by "strong volume growth" in fresh food.
Britain's Tesco says 'well positioned' as market share grows
Tesco , Britain's biggest supermarket group, said it was "well positioned" for the balance of the year, as it reported a 4.6% rise in underlying quarterly sales in its home market and reiterated its guidance.
Tesco board faces heat over CEO's 10 mln pound pay package
The board of Tesco , Britain's biggest supermarket group, will be asked to justify chief executive Ken Murphy's near 10 million pounds ($13 million) pay package when it faces shareholders at its annual meeting on Friday.
Tesco share price rally has stalled but June 14th will be crucial
The Tesco (LON: TSCO) share price has continued to fire on all cylinders this year as its performance remained steady. It has jumped by over 11% this year, outperforming other British retailers like Marks and Spencer (MKS) and Sainsbury (SBRY).
Tesco recalls chocolate bars over allergy risk
Tesco PLC (LSE:TSCO) has been forced to recall chocolate bars which may contain peanuts as the allergy risk was not declared on the label. An urgent health safety warning was issued by the country's largest supermarket for its own-brand Nutty Nougat Caramel Chocolate Bars Multipack and Dreamy Caramel Chocolate Bars Multipack.
Tesco results to show boost from disinflation and share gains
Tesco PLC (LSE:TSCO) is expected to highlight the impacts of disinflation, market share gains, tough European operations and the success of its wholesale business when it reports first-quarter results next Friday. Sales during the first three months of the financial year are expected to lift by between 5-6% in the UK, by 2.5-3.5% in Ireland and by 0-1% in central Europe, according to Shore Capital's veteran retail analyst Clive Black.
Tesco adds marketplace to online channels
Tesco PLC (LSE:TSCO) has launched a new online marketplace which will give customers the chance to purchase third-party products while they do their weekly shop. It is part of a wider plan to make Tesco.com “a one-stop shop for everything customers need,” the supermarket explained.
Tesco lasering avocados with product information in test to ditch stickers
Tesco , Britain's biggest supermarket group, is using lasers to etch product information on some of its avocados to avoid using barcoded stickers, in a trial it says will reduce plastic waste.
Tesco sees boom in mash sales as consumers trade down
Tesco has reported a boom in mashed potato sales with a new factory opened by its supplier to meet the demand. Demand has soared since people started to work after lockdown, said the supermarket, with one million more packs of fresh ready-made sold in 2023 compared to the year before.
Tesco recalls product as it may contain glass
Tesco PLC (LSE:TSCO) shares have slipped more than 1.5% today after it went ex-dividend, however, a share price slide may be the least of management's worries. The UK's largest supermarket has been forced to recall its sandwich pickle over the possibility it may contain glass in it.
