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UK retailers are still firing on all cylinders this year as signs emerge that the economy was doing better than expected. Marks and Spencer (LON: MKS) and Tesco (LON: TSCO) share prices have soared by 20% this year and are sitting at their highest points on record.
Tesco PLC (LSE:TSCO) has launched “digital passports” across its F&F clothing range, giving shoppers the ability to check information on the sustainability of items. This initiative comes in response to the European Union's forthcoming sustainability regulations, which aim to reduce greenwashing and enforce stricter environmental standards.
Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) have continued to strengthen their position as the UK's largest supermarkets, while rivals Morrisons, Asda and Aldi falter, industry data revealed on Wednesday. Asda saw its market share drop by 1.1% to 12% in the last year after it experienced a 5.9% drop in sales during the four weeks to July 13, NIQ data showed.
Boosted by booze and snacking for the Euros football viewers, UK supermarket sales picked up in the past month, while grocery inflation fell to its lowest since September 2021. Supermarket price inflation dropped to 1.8% for the 12-week period ending 7 July, new data from Kantar showed today, with prices falling fastest in toilet tissues, butter and dog food.
UK retail stocks are doing well, with the biggest ones trading at a multi-year high. Tesco (LON: TSCO) share price soared to a record high of 316p on Friday, rising by almost 20% from its lowest point this year and 74% from its 2022 low.
Over 20,000 Tesco PLC (LSE:TSCO) workers will share £30 million from the supermarket's share schemes. Tesco stated that an employee who invested an average of £68 monthly over five years would see a profit of £2,560, resulting in a total return of £6,640 from their £4,080 investment.
Tesco PLC maintains flat profit guidance for next year, focusing on sales funneling into Finest for positive mix effect and hoping for some sales acceleration. Revenue acceleration expected in coming quarters due to the Euros and Olympics, offsetting negative impact on gross profits from the minimum wage increase. They aren't pressing with pricing anymore, not more than 2%, as inflation in the UK abates despite wage increases.
Some 20,000 Tesco PLC (LSE:TSCO) workers are set to split a bonus of £30 million, using funds which have been generated through the supermarket's share scheme. An employee who has invested the typical £68 per month over the last five years is on track to receive £6,640 for their £4,080 investment, netting them a profit of £2,560.
Tesco and Sainsbury are coming under pressure from a resurgent Morrisons, according to an analysis of the grocery sector's latest numbers by JP Morgan. Morrisons' improving shape is driven by better execution and self-help, says the US bank.
Tesco PLC (LSE:TSCO) is expected to continue eating up market share as the supermarket sector enters a “normalised environment”, analysts at Citi believe. Shares in the country's largest supermarket lifted by more than 2% on Friday after its first-quarter results highlighted market share gains and volume growth.
Tesco PLC (LSE:TSCO) shares have jumped more than 2% on the back of its first-quarter results, making it one of the FTSE 100's top risers today. Markets welcomed the group's ability to post another quarter of market share gains, helped by rising volumes, a focus on value and better-than-expected sales growth in Ireland.