Oct 4, 2021

Tesco banks on cash returns to reignite share price

We'll send you a myFT Daily Digest email rounding up the latest Tesco PLC news every morning. Tesco is expected to announce plans to return capital to shareholders when it reports half-year results on Wednesday, as the UK's largest food retailer looks to ignite a share price that has lagged behind rivals. William Woods, an analyst at Bernstein, said Tesco was winning on multiple fronts - gaining share in almost all regions of the UK and among all age cohorts and social classes. In the late 1990s and early 2000s, Tesco dominated UK food retailing with £1 in every £8 spent in UK shops going through its tills at its peak. Tesco suffered a spectacular fall from grace starting in 2011, losing customers, becoming embroiled in an accounting scandal and finally announcing one of the biggest UK corporate losses in 2015.

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