Tesco (LON:TSCO) has teamed up with chef and author Jamie Oliver who is creating a series of recipes and tips to promote the supermarket’s food products, the FTSE 100 company has said. The move comes amid the ongoing war in the UK grocery market.
Tesco’s share price has climbed higher in London in today’s session, having added 0.92 percent to 241.10p as of 13:44 BST. The stock is outperforming the benchmark FTSE 100 index which currently stands 0.21 percent higher at 7,292.75 points. The grocer’s shares have added more than 28 percent to their value over the past year, as compared with about a 1.4-percent dip in the Footsie.
Tesco teams up with Jamie Oliver
Tesco unveiled a partnership with Jamie Oliver today, with the chef set to front up the grocer’s ‘helpful little swaps’ in store, suggesting healthier alternatives with reduced levels of sugar, salt and fat. The supermarket said that a basket of ‘helpful little swaps’ will cost 12 percent less than a regular basket. He has also created a series of healthier recipes and tips for Britain’s biggest grocer.
Tesco said that the partnership follows a recent survey of over 2,000 people which found that seven out of ten families say they think supermarkets should do more to help people make healthier choices, with nearly 70 percent also saying that they would like more practical advice and inspiration on healthier alternatives.
Analysts on blue-chip supermarket
The 16 analysts offering 12-month price targets for Tesco for the Financial Times have a median target of 275.00p on the shares, with a high estimate of 300.00p and a low estimate of 200.00p. As of September 7, the consensus forecast amongst 21 polled investment analysts covering the blue-chip supermarket has it that the company will outperform the market.