Tesco share price: Retailer seals deal to sell House of Fraser products

on Jun 2, 2014
Updated: Apr 9, 2020
Listen

iNVEZZ.com, Monday, June 2: Tesco (LON:TSCO) has struck a deal with House of Fraser to sell the British department store’s products on its website.

The UK’s largest retailer said in a statement published on its corporate website yesterday that following a trial last month, Tesco will sell 2,000 products from House of Fraser including items from homeware brands Linea and Pied a Terre.
The deal makes House of Fraser the biggest retailer to date to have signed up to Tesco Direct since the online service opened up to third party companies two years ago and marks a significant step up for Tesco as it seeks to attract more high street chains.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Tesco further revealed in its statement that it had renewed its partnership with all 50 retailers signed up to its website to offer customers Clubcard points on all of their online purchases. It has also expanded its click and collect service, which allows customers to order items online and pick them up at Tesco stores, to include more third party retailers.

Ian Caminsky, Partnership Director at Tesco, said in the group’s statement yesterday: “We want to offer our customers a fantastic shopping experience, however, whenever and wherever they choose to shop with us. And we want to reward them for their loyalty, so we’re really pleased that we’re now able to offer customers Clubcard points on all of their Tesco direct purchases. We’re also delighted to welcome House of Fraser to Tesco Partners, as we know customers love their fantastic homeware range.”

**Tesco share price falls on downbeat analyst views**
Tesco’s share price opened lower this morning, as analyst said over the weekend that the supermarket giant would report its worst trading figures in two decades, when it updates the market on its quarterly performance on Wednesday ( Tesco share price: Retailer to report worst trading in years).

According to Tesco’s own house brokers, Barclays Capital and Deutsche Bank, Britain’s largest retailer will post a four percent drop in first-quarter underlying sales. A number of analysts have echoed these pessimistic views, sending Tesco’s share price 0.79 percent lower to 301.15p as of 08:31 BST today.
Of the 18 analysts projecting 12 month price targets for the FTSE 100-listed company for The Financial Times, the median target is 291.00p, with a high estimate of 360.00p and a low estimate of 230.00p.
**As of 08:31 BST, buy Tesco shares at 301.05p.**
**As of 08:31 BST, sell Tesco shares at 300.90p.**

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Retail Stock Market