Tesco share price steady after latest Kantar numbers

Britain’s biggest grocer grows sales while market share drops

Tesco share price steady after latest Kantar numbers

Shares in Tesco (LON:TSCO) have been little changed in today’s session, holding steady following the latest industry numbers which showed the Britain’s biggest grocer had continued to grow sales while losing market share in the 12 weeks to November 4. The results follow the FTSE 100 group’s interims in October when Tesco posted a rise in profits, having benefitted from its acquisition of wholesaler Booker. 

As of 13:40 GMT, Tesco’s share price had added 0.19 percent to 215.60p, fractionally outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.03 percent higher at 7,054.90 points. The grocer’s shares have added more than 21 percent to their value over the past year, as compared with a near five-percent dip in the Footsie.

Latest Kantar numbers

Kantar Worldpanel announced in a statement today that the latest UK grocery market figures had showed that had increased 2.6 percent in the 12 weeks to November 4, marking slower growth compared with recent months. The update also revealed that German discounters continued to pressure the UK’s ‘Big Four’ supermarkets, with Aldi and Lidl both posting double-digit growth.

Over at Tesco, sales were up by 0.4 percent year-on-year during the reported period, as compared with 0.9-percent sales growth in the 12 weeks to October 7. Britain’s biggest grocer’s market share meanwhile fell by 0.6 percentage points to 27.5 percent.

Analysts on Tesco

The 14 analysts offering 12-month price targets for Tesco for the Financial Times have a median target of 280.00p on the shares, with a high estimate of 300.00p and a low estimate of 200.00p. As of November 10, the consensus forecast amongst 22 polled investment analysts covering the blue-chip supermarket has it that the company will outperform the market. 

As of 13:57 GMT, Tuesday, 13 November, Tesco PLC share price is 215.40p.

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