Tesco Share Discussion Threads

[loganair] 03/10/2016 11:25

A group of Tesco shareholders is set to take legal action against the retailer after allegedly losing £150 million in total from the accounting scandal that rocked the supermarket in 2014, according to the BBC.

"Shareholders were misled by information inaccurately provided to the market with knowledge by management," Jeremy Marshall of Bentham Europe, the firm behind the action told the BBC.

He added that any case against Tesco is expected to be filed by the end of October.

Marshall noted that around 60 unspecified "large" investors are currently expected to take part in a group action against the company, but that number could increase once the suit is formally filed. Pension funds from across the UK, Europe, and USA, along with other asset managers are among those involved right now.

The news comes roughly one month after it was announced that three former executives from Tesco had been charged with fraud and false accounting related to the overstated profits.

[tenapen] 02/10/2016 18:53

retsius, don't beleave a word portside says both here and over on the barc thread. He/she will be posting on Wednesday after the results claiming to have bought back in on the Tuesday dip ! and made even more !.

[alibx11] 02/10/2016 18:41

Typical of the FT..

Mail on Sunday reports on it's estimated pensions deficit and...

"The company is expected to announce on Wednesday that sales have risen for the past three quarters after Tesco’s chief executive Dave Lewis started to turn the business around.

Analysts say the interim profit could increase by 40 per cent to £487million. Its lower-price Farm brands range is said to be delivering rising volumes as sales speed up.

Bruno Monteyne, an analyst at Bernstein, said: ‘Tesco’s large pension deficit will get worse when it announces its latest results. However, we expect that is already well reflected in the current share price.

‘It remains one of the strongest food retailers with solid sales growth, access to the fastest growing convenience and online channels and a well-executed own label strategy.’

[cocker] 02/10/2016 17:30

Shall we see how important that ft article is by Wednesday.

[alphorn] 02/10/2016 16:41

FT reporting that Tesco will be sued by 60 investors over the accounting issues.

[cocker] 29/9/2016 17:24

I guess we will now be subjected to nothing other than constant de-ramping from you now Porty?. Well if you have done well then well done, but don't clog up the board with drivel please.

[retsius] 29/9/2016 17:19

Tomorrow,let's hope for a close above 180 and look forward to some positive press over the week end!

[chris coxon] 29/9/2016 15:32

retsius - A profit is a profit, you move on, best plan, money in the bank rather than waking up to see it all fall away.

[retsius] 29/9/2016 13:00

Why sell when it is completely being re-organised and potential good gains to come .

[nathdani] 29/9/2016 11:41

A profit is not that until u sell good luck porty

[portside1] 29/9/2016 11:16

have sold all my holdings over the last few days . can not see a div for at least two more years because of pension costs and low margins ,dyor .

[retsius] 27/9/2016 16:47

Good recovery at the close in a lousy market.
R.

[retsius] 26/9/2016 08:32

Well said alibix11.
My own thought was ' have the board just tumbled upon that?' I don't think so. Let's wait and see next months figures first.

[alphorn] 25/9/2016 19:20

Tesco will not be the only one.

[deanforester] 25/9/2016 17:27

You can put all that down to the reductions in interest rates. Talk about the law of unexpected consequences.

[neilyb675] 25/9/2016 16:56

oh dear....

[nathdani] 25/9/2016 14:13

As a current Tesco pensioner this is quite alarming(although I did suspect things were not good) as I have family still working for them and have seen just what a hatchet job they have done to there pensions before this latest update.

[jordaggy] 25/9/2016 08:51

It never rains...

[chinese investor] 22/9/2016 10:33

Good find loganair !

[loganair] 22/9/2016 09:56

Supermarket giant Tesco (TSCO) is expected to start rebuilding margins but there are competing claims on its cashflow.

Jefferies analyst James Grzinic retained his ‘hold’ recommendation and target price of 185p on the shares, which were broadly flat at 177.8p yesterday.

‘We expect a constructive first-half update from Tesco, confirming improving visibility on the operating expenses front underpinning a return to UK margin rebuild from the second half of 2016/17,’ he said.

‘Still a likely major increase in the group’s pension deficit may serve as a reminder of competing claims on Tesco’s cashflows. Our neutral stance balances the two out.’

He said the stock was fairly valued ‘as the attractions of the upcoming UK profit recovery are tempered by the continued punchy leveraged position’ which ‘pretty much negates the possibility of any cash distribution to shareholders within our forecast period, as we expect management to rightly prioritise the need for further freehold rebuild’.

[loganair] 20/9/2016 11:46

British grocery sales rose 0.3 percent in the 12 weeks to 11 September, helped by higher alcohol sales.

Tesco had a 0.2 percent sales decline and now accounts for 28.1% of the grocery market, while No.2 supermarket Sainsbury's posted a 1.4 percent fall with a market share of 15.9%, followed by sector laggard Asda, which recorded a 5.4 percent drop with its market share slipping 1% to 15.7%. Morrisons whose sales declined by 2.3 percent now has a market share falling by 0.3 percentage points to 10.4%.

Sales at Waitrose increased by 3.4% on last year, helping the retailer reach a new record market share of 5.3%.

The Co-op continued to outperform the market with sales growth of 3.1%, primarily through its own label lines. The convenience retailer was another to post strong alcohol sales, though its produce lines were its fastest growing category, helping market share increase to 6.6%.

Iceland’s recent run of success continued as sales grew by 6.3% compared with a year ago, with its core ice cream and frozen fish categories particularly over-performing.

The growth of German discounters Aldi and Lidl continued, with the pair recording sales growth of 11.6 percent and market share of 6.2% and 9.5 percent and market share of 4.6% respectively, and winning market share.

Aldi and Lidl continued their unrelenting growth – not only are both continuing to expand their store estates but existing customers are visiting more frequently and upping their basket size.

[staylow1] 20/9/2016 08:50

Tested july's resistance point..

[tancro] 20/9/2016 08:39

Some big sells!!