Tesco (TSCO)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

296.60p
   
  • Change Today:
    -1.60p
  • 52 Week High: 303.50
  • 52 Week Low: 245.40
  • Currency: UK Pounds
  • Shares Issued: 7,039m
  • Volume: 13,716,395
  • Market Cap: £20,878m
  • RiskGrade: 107

Grocery inflation hits 13-year high

By Abigail Townsend

Date: Tuesday 24 May 2022

LONDON (ShareCast) - (Sharecast News) - Grocery inflation hit its highest level in 13 years in May, industry research showed on Tuesday, as the cost of living crisis continued to mount.
According to retail consultancy Kantar, like-for-like grocery inflation was 7% in the past four weeks, the highest since May 2009. In the 12 weeks to 15 May, grocery inflation was 5.7%, with prices rising fastest in dog food, savoury snacks and beef, and falling in spirits.

Fraser McKevitt, head of retail and consumer insight at Kantar, said: "People are really feeling the squeeze at the supermarket tills and they're having to stretch their budgets further to accommodate rising prices.

"Understandably, only a third of consumers now think of themselves of being in a comfortable financial position."

UK consumers are facing a cost of living crisis, with inflation at a 40-year-high of 9% and energy bills rising 54% in April. National Insurance contributions also went up. According to a recent survey carried out by Kantar, 43% of households described themselves as 'managing' and 22% said they were 'struggling'.

Of those struggling, over nine in ten said rising food prices was the second most important issue after energy bills.

Supermarket sales fell 4.4% year-on-year in the 12 weeks to 15 May, Kantar said. But in the last month the rate of decline slowed, with sales off just 1.7% as shoppers started to stock up ahead of the long Platinum Jubilee weekend.

McKevitt said there had been a 10% jump in supermarket sales in the week leading up to the Diamond Jubilee in 2012, and a similar uptick was expected this year. "We should never underestimate the appetite for a party, especially a royal one," he added.

Among individual retails, discounters Aldi and Lidl were the only grocers to report a rise in sales. Lidl reported a 6% uplift in the 12 weeks to 15 May, while Aldi saw a 5.8% increase.

They now have market shares of 6.9% and 9.0% respectively, both fresh highs.

Elsewhere, and sales eased 3.1% at Tesco, the UK's largest grocer, although its market share nudged 0.4% higher to 27.4%. It is the seventeenth consecutive month that Tesco has seen its market share improve.

Sales fell 6.7% at J Sainsbury, 8.7% at Asda and 9.5% at Wm Morrison. Waitrose, part of the John Lewis Partnership, saw sales decline 8.9% while Ocado recorded an 8% fall.

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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 296.60p
Change Today -1.60p
% Change -0.54 %
52 Week High 303.50
52 Week Low 245.40
Volume 13,716,395
Shares Issued 7,039m
Market Cap £20,878m
RiskGrade 107

Tesco Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
47.22% above the market average47.22% above the market average47.22% above the market average47.22% above the market average47.22% 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
Price Trend
67.20% above the market average67.20% above the market average67.20% above the market average67.20% above the market average67.20% 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
24.59% above the market average24.59% above the market average24.59% above the market average24.59% above the market average24.59% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
20.77% below the market average20.77% below the market average20.77% below the market average20.77% below the market average20.77% below the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average

What The Brokers Say

Strong Buy 4
Buy 7
Neutral 2
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
  Interim Final
Ex-Div 12-Oct-23 11-May-23
Paid 24-Nov-23 23-Jun-23
Amount 3.85p 7.05p

Trades for 28-Mar-2024

Time Volume / Share Price
17:19 12,578 @ 297.90p
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16:35 8,325 @ 296.60p
16:35 22,969 @ 296.60p
16:35 9,884,236 @ 296.60p

Tesco Key Personnel

CEO Ken Murphy
CFO Imran Nawaz
Chair Gerard Murphy

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