Tesco (TSCO)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

 308.40p
   
  • Change Today:
      0.000p
  • 52 Week High: 315.00p
  • 52 Week Low: 245.40p
  • Currency: UK Pounds
  • Shares Issued: 6,934m
  • Volume: 0
  • Market Cap: £21,386m
  • RiskGrade: 107

Short-lived sunny spell helps boost UK supermarkets

By Abigail Townsend

Date: Friday 31 May 2024

LONDON (ShareCast) - (Sharecast News) - UK supermarket sales pushed higher in May, industry data showed on Friday, boosted by a brief spell of warmer weather.
According to the latest figures from market research firm NIQ, total till sales at UK grocers rose 3.3% in the four weeks to 18 May. The figure was largely unchanged on last month's 3.4% increase.

NIQ attributed May's growth to the brief period of warm weather in the week ending 11 May, which helped push value sales to a two-month high of 5.1%. Ice cream sales jumped 55% and pre-mix alcoholic drinks by 28%.

Sales dipped slightly when the weather turned wetter, however.

Mike Watkins, UK head of retailer and business insight at NIQ, said: "The warm weather helped to move the dial in terms of shopper spending, more so than food inflation, which is expected to remain at around 3% for next few months.

"Despite this, many shoppers are still faced with limits to their discretionary spending, and this is having an impact on certain categories."

Among individual grocers, online supermarket Ocado Group reported the strongest growth in the last 12 weeks, with sales up 12.4%.

J Sainsbury reported a 6% jump in sales, while Tesco, the UK's biggest supermarket, saw sales rise 5.4%.

Discounter Aldi reported sales growth of 10.4%, although that was marginally below the previous year's 10.8% improvement. Rival Lidl saw sales rise 7.7%.

Looking forward, Watkins warned that June would suffer from tough comparatives, as June 2023 was especially hot.

But sales were forecast to then likely push higher on the back of major sporting events, including the UEFA Euro 2024 tournament and Paris Olympics.

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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 308.40p
Change Today 0.000p
% Change 0.00 %
52 Week High 315.00p
52 Week Low 245.40p
Volume 0
Shares Issued 6,934m
Market Cap £21,386m
RiskGrade 107

Tesco Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
54.65% below the market average54.65% below the market average54.65% below the market average54.65% below the market average54.65% below the market average
38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average38.46% below the sector average
Price Trend
63.77% above the market average63.77% above the market average63.77% above the market average63.77% above the market average63.77% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average
Income
37.48% above the market average37.48% above the market average37.48% above the market average37.48% above the market average37.48% 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
34.93% above the market average34.93% above the market average34.93% above the market average34.93% above the market average34.93% 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

What The Brokers Say

Strong Buy 5
Buy 8
Neutral 1
Sell 0
Strong Sell 0
Total 14
buy
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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 --2024

Time Volume / Share Price
0 @ 0.000p

Tesco Key Personnel

CEO Ken Murphy
CFO Imran Nawaz
Chair Gerard Murphy

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