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.
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.
| Consumer Staples Distribution & Retail Industry | Consumer Staples Sector | Ken Murphy CEO | XFRA Exchange | 881575401 CUSIP |
| GB Country | 342,303 Employees | 15 May 2026 Last Dividend | 16 Feb 2021 Last Split | - IPO Date |