Tesco

Ticker TSCO

Today's data summary

Market closed
% change
+0.68%
Price Pence
238.30
Change
+1.60
As of 20:53 20 Jul 2019
Market cap. Pound sterling
23,337.90 million
As of 20:51 20 Jul 2019

Latest updates

Tesco reportedly hiking prices

Tesco store with tree
Getty Images

Tesco has increased prices on more than 1,000 products in the past two week, according to the Press Association.

It reports that a five-pack of bananas has gone up from 90p to £1 while macaroni and linguine pasta have risen 30% to 65p.

This is despite Tesco's attempts to compete with discounters such as Aldi and Lidl.

PA quotes a Tesco spokesperson saying: "Over recent months, cost pressures have continued to build and impact the market.

"We've worked hard to offset these pressures, and focused on protecting our customers for as long as possible.

"But, like the wider market, we have had to reflect these pressures in the price of some products.

"For the majority of products that have increased in price over the last three weeks, we still beat or match the cheapest of the Big Four [Tesco, Sainsbury's, Asda and Morrisons]."

Tesco expanding further into Thailand

Children shop at a Tesco Lotus supermarket in Thailand
Tesco Lotus

Supermarket giant Tesco is to open 750 convenience stores across Thailand over the next three years.

The new plans will create up to 10,000 new jobs.

Tesco told the Mail on Sunday that it sees an opportunity in the country's emerging middle class.

Tesco already has more than 1,500 Express convenience stores and about 400 larger shops, hypermarkets and shopping malls in Thailand, trading under the Tesco Lotus brand, employing 46,000 full-time staff.

Tesco faces Brexit deadline headache

shopping trolley
Getty Images

More from Tesco.

Planning for the new Brexit deadline is "more difficult" because the supply network will be full of Christmas stock, Tesco's boss Dave Lewis has warned.

He told the BBC that the new deadline of the end of October meant there would be "less capacity" for stockpiling longer-life items.

A no-deal Brexit could mean tariffs and delays at the border that interrupt supplies of some food, he said.

But Mr Lewis said leaving the EU could also provide opportunities for the UK.

Tesco faces Brexit deadline headache
The retail giant's boss says an October Brexit could cause problems as it's too close to Christmas.