Tesco's Christmas Trading Affected by Palmer & Harvey Disruption; Medium-Term Ambitions Reaffirmed
Tesco reported third-quarter and Christmas trading update for the 19 weeks to Jan. 6, with group like-for-like sales, excluding fuel, up 0.6%, lower than our expectations. As we believe our long-term view is intact, we are maintaining our no-moat rating and our GBX 144 fair value estimate. Shares are currently moderately overvalued.Third quarter like-for-like sales for the U.K. and Republic of Ireland segment grew by 2.3% (2.2% including the Christmas period), reflecting positive growth across ...
Tesco is a retailer. Co. and its subsidiaries are engaged in retailing and associated activities in the U.K. and Republic of Ireland; and Czech Republic, Hungary, Poland, Slovakia, Malaysia, and Thailand. Co. provides retail banking and insurance services through Tesco Bank in the U.K. Co. sells and services of motor and home insurance policies underwritten by Tesco Underwriting Limited, or in a minority of cases by a third-party underwriter. As of Feb 25 2017, Co. had a total of 6,809 stores worldwide, including 256 franchised stores.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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