Britain's Tesco raises annual profit outlook after first-half rise
Tesco , Britain's biggest supermarket group, on Thursday raised its profit guidance for the year as it reported a 10% increase in first-half core profit that reflected market share gains.
Tesco's grocery dominance to underpin interims, broker suggests
Tesco PLC (LSE:TSCO) half-year update is expected to show the group's growing dominance of the UK grocery business reflected in its numbers. UBS sees the UK's number one supermarket posting underlying profits of £1.54 billion, up 6%, while on the revenue front good volume growth to be offset by the recent drop in food prices.
Tesco, Sainsburys called out for ‘misleading' soft plastic recycling schemes
Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) have been called out for misleading customers over in-store plastic recycling schemes. Tracking of soft plastics placed in the supermarket's recycling stations between July 2023 and last February found most waste ended up being burned, according to campaigner Everyday Plastic and the Environmental Investigation Agency (EIA).
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Tesco under fire for Aldi price match scheme
Tesco PLC (LSE:TSCO) has been accused of using incomparable products for its price-matching scheme with Aldi. Research by the BBC found that 122 products including chicken nuggets, blackcurrant squash and chicken kievs contained less of the key ingredient than Aldi's alternative.
Tesco's market share will keep rising, reckons Citi
Citi analysts expect to see Britain's largest supermarket Tesco PLC (LSE:TSCO) increase its market share when it reports its first-half results next month. Analysts are forecasting a 3.8% rise in like-for-like sales, representing a steady acceleration from the 3.4% of growth seen in the first half of 2023.
Tesco beaten in ‘fire and rehire' Supreme Court case
Tesco PLC (LSE:TSCO) has lost a legal case in the UK's Supreme Court over laying off staff at certain distribution centres and then rehiring them on lower pay. Five justices unanimously agreed Tesco should be blocked from the practice on Thursday, following a legal case from the Union of Shop Distributive and Allied Workers.
Tesco loses UK legal battle over 'fire and rehire' of staff
Tesco was not entitled to terminate some employees' contracts and offer to rehire them on less favourable terms, the United Kingdom's Supreme Court ruled on Thursday.
Tesco share price is beating Walmart, Kroger, and Target
Tesco (LON: TSCO) share price is firing on all cylinders and beating other retail juggernauts like Target, Walmart, and Kroger. It has jumped by over 140% in the last five years while the three have jumped by 56%, 113%, and 120%, respectively.
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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Tesco shares management 'distinctly on it' says broker; leading bank upgrades
Management of Tesco PLC (LSE:TSCO) is 'distinctly on it', according to Shore Capital, which hosted a meeting with management of Britain's largest grocer. This positive feedback from a brokerage, which has a strong track record in retail, allied to a price target hike by UBS helped provide some support for the share price, which was up 1.4% mid-afternoon.
