TESCO SHARE PRICE: Tesco is a high-tier grocery retailer established in 1919 by Jack Cohen. It has its headquarters based in Welwyn Garden City, England, UK. Being one of the world’s largest retail stores, the company represents itself amongst the countries of Europe and Asia. In addition to this, it has a very large market share in Ireland, Hungary and the UK.
TESCO’S BUSINESS PROFILE
TESCO share price today is one of the highest ranging prices in the world. With the company being one of the largest retail stores across the world, it has its major roots in the European and Asian countries. TESCO deals in a whole range of diversified products ranging from selling software, books, internet & phone services, electronics, clothing, toys, furniture, petrol and even some financial services. But these services weren’t enough to make TESCO a world dominator in its field because back in the 1990s, it operated as a low-cost retailer. But after many discussions, the company realised they needed some major changes to improve their performance in the market. So, in the late 1990s it decided to go under a major re-branding and switching itself from a low-cost retailer to adding more high-profile and valued items in their existing product range. The switch proved to be extremely beneficial in changing the company’s market position and in just fifteen years, the store’s chain grew from 500 stores to nearly about 2500 stores.
TESCO’S STORE TYPES
Currently, TESCO has been operating some of the below-listed store types :
- EXTRAS: These are some of the biggest hypermarkets of the chain that are most commonly located out of town.
- SUPERSTORES: These are some of the big supermarkets that also deals in almost everything except fewer non-food goods as compared to the Extras.
- METROS: The most attractive thing about this store type is that it is located inside the city. These are the middle-sized stores.
- EXPRESS: In addition to the hypermarkets and superstores, people sometimes also need some convenience stores for a quick visit to grab the daily necessities. This store type is one of them. It can usually be found in the local neighbourhood.
- TESCO PETROL STATIONS.
TESCO SHARE PRICE UK: LATEST UPDATE
The current condition of the company seems confusing and disturbing as it has to sell its Asian stores. The current update on TESCO share price UK is that the giant retail chain is about to sell all of its operations in Thailand and Malaysia. Across both countries, the supermarket chain has approximately 2000 stores. These stores are operated under the Tesco Lotus brand and now has agreed to sell them to the Thai CP Group. Keeping in mind the shareholders’ proceeds that have already been accepted, Tesco promises to return them back to the people through special dividends.
The decision for the sale was considered necessary and it is assumed that this sale will allow the company to further simplify and focus on major business. It would also eliminate the debt of the company and enable it to focus on the strong market hold in the UK, Ireland and central Europe. The left stores of Tesco are now only in Ireland and central Europe, including Poland and Hungary. Although the decision has been approved by the main board of Tesco, the approval by the shareholders and regulators is still pending. The estimated time of the deal to be finalised is the second half of this year. Tesco has also undergone a massive cost-cutting programme in the last five years leaving many people jobless currently.
TESCO PLC : INVESTOR’S INFORMATION
- TESCO PLC SHARE PRICE : 211 .20p
(Trade time: close 12 March 2020) ; -20.90p -9.00%
- EXCHANGE INFORMATION :
(Exchange) London Stock Exchange
(Market capital) £20.68 bn
- DETAILED SHARE PRICE INFORMATION (p) :
(Last trade price) 211.20
(Day high) 211.20
(Day low) 211.20
(Last closing price) 211.20
(52 week high) 260.40
(52 week low) 210.40
- ADR PRICE : $8.25
(12 Mar 2020 08:00:00 PM)
TESCO SHARE PRICE FLUCTUTATES AMID COVID-19 OUTBREAK
With the worldwide outbreak of COVID-19 or coronavirus, huge retail company TESCO has started rationing some of the essential food items because of the huge stockpiling by the customers. Currently, the customers have been limited to buying only five items of each rationed goods. This also includes some antibacterial gels, dried pasta, wipes and & sprays and even UHT milk. These limitations and rules are applicable to not only the stores but in the case of online purchases as well. All of these actions have been taken after the discussion of the government spokespersons and UK supermarkets for having a planned scheme for their response to the outbreak.
TESCO’S RESPONSE TO THE SITUATION OF CORONAVIRUS
Tesco and other supermarket chains have been in constant touch with their suppliers to ensure that the customers demand is met timely. Apart from Tesco, some other stores have even imposed their own restrictions regarding the preventative measures to be taken by the employees, management and the customers. Tesco has given out a statement saying that the supply chain shall deliver items through to all of the stores in the hope and goal that the shortage will be met is all of these hurdles are just short-term. It said that the company has all the areas covered for long-term smooth functioning of the business. IN addition to this, Tesco has introduced a temporary limitation to some products that are available online to make sure that all the customer have access to the items that they need. UK Government has also been taking necessary steps and has warned the retailers that they will face prosecution if they are found exploiting the scare of COVID-19 to increase the cost for items like face masks and hand sanitisers.