Tesco (TSCO)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

311.70p
   
  • Change Today:
      1.50p
  • 52 Week High: 313.17
  • 52 Week Low: 245.40
  • Currency: UK Pounds
  • Shares Issued: 7,039m
  • Volume: 10,747,941
  • Market Cap: £21,940m
  • RiskGrade: 107

Tesco faces empty shelves at Xmas as strike threat looms

By Frank Prenesti

Date: Monday 06 Dec 2021

LONDON (ShareCast) - (Sharecast News) - Tesco warehouse workers and drivers are preparing to hold a series of strikes over pay which could result in shortages in stores across the country, their union said on Monday.
The Unite union said more than 1,000 of its members - based at depots in Antrim, Belfast, Didcot and Doncaster, would be taking industrial action after rejecting a 4% pay increase "well below" the current retail price index (RPI) inflation rate of 6% and compared with the consumer prices index measure of 4.2%.

Unite said industrial action meant "shoppers in many parts of the UK face empty shelves in the run-up to Christmas".

"Unite is taking strike action as a last resort having exhausted all other options," said Unite national officer Adrian Jones said.

"Even at this late stage Tesco could still avoid severe disruption in its stores by returning to the negotiating table and making a greatly improved offer."

Supermarkets are already battling with supply chain disruption due to Brexit and the Covid pandemic, with the industry warning of a reduced Christmas offering in UK stores.

Unite general secretary Sharon Graham said her members "have gone above and beyond the call of duty to keep Tesco's shelves filled throughout the pandemic".

"At the very least the UK's largest and wealthiest retailer should be making our members a decent pay offer."

Workers at the Didcot and Doncaster sites will strike for 48 hours from 6am on 16 December, to be followed by a further five-day stoppage from 20 December.

Additional strikes will be held at the two sites after Christmas. Unite members at the Antrim and Belfast Tesco distribution centres will launch a continuous strike from 7am on 16 December.

Tesco said it had contingency plans in place to help mitigate any impacts. "We have worked hard to deliver Christmas for our customers and are confident we will be able to fulfil our plans," the company said.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tesco Market Data

Currency UK Pounds
Share Price 311.70p
Change Today 1.50p
% Change 0.48 %
52 Week High 313.17
52 Week Low 245.40
Volume 10,747,941
Shares Issued 7,039m
Market Cap £21,940m
RiskGrade 107

Tesco Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
55.01% below the market average55.01% below the market average55.01% below the market average55.01% below the market average55.01% below the market average
7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average
Price Trend
56.44% above the market average56.44% above the market average56.44% above the market average56.44% above the market average56.44% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
37.77% above the market average37.77% above the market average37.77% above the market average37.77% above the market average37.77% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Growth
29.58% above the market average29.58% above the market average29.58% above the market average29.58% above the market average29.58% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average

What The Brokers Say

Strong Buy 5
Buy 7
Neutral 1
Sell 0
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tesco Dividends

  Latest Previous
  Final Interim
Ex-Div 16-May-24 12-Oct-23
Paid 28-Jun-24 24-Nov-23
Amount 8.25p 3.85p

Trades for 10-May-2024

Time Volume / Share Price
16:35 5,848,281 @ 311.70p
16:35 11 @ 311.70p
16:35 8,646 @ 311.70p
16:35 8,657 @ 311.70p
16:35 8,655 @ 311.70p

Tesco Key Personnel

CEO Ken Murphy
CFO Imran Nawaz
Chair Gerard Murphy

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