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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Tesco PLC    TSCO   GB0008847096

TESCO PLC

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Tesco PLC : Tesco CEO Sees "Tectonic Shift" in Retail Industry

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09/19/2012 | 07:31am EDT

By Peter Evans

LONDON--Tesco PLC (TSCO.LN) Chief Executive Philip Clarke said Wednesday the "tectonic plates are shifting" in the retail industry as problems in the euro zone start to affect previously high-growth regions, forcing companies to adapt to new technology or risk losing competitiveness.

"We are in the first downturn of the digital age," Mr. Clarke said at the World Retail Congress in London.

He added that "consumption is weakening" in China, Thailand and South Korea--previously areas of rapid growth for Tesco--in the face of economic turmoil in Europe. "[These economies] are vulnerable to the crisis in the euro zone, as well as inflation caused by high commodity prices," he said.

Retailers have been hit especially hard by the worldwide economic downturn as consumers have reined in on non-essential spending in the face of falling real wages and fears over job security.

However, Mr. Clarke said digital technology--smartphones in particular--represented a lifeline for the retail industry in straightened times, offering new ways to personalize the shopping experience for customers.

"Digital technology gives us the opportunity for a warmer, more meaningful conversation with our customers, local communities, our colleagues and the suppliers we work with."

Write to Peter Evans at peter.evans@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials (GBP)
Sales 2020 64 317 M
EBIT 2020 3 048 M
Net income 2020 1 376 M
Debt 2020 12 453 M
Yield 2020 3,57%
P/E ratio 2020 16,4x
P/E ratio 2021 12,3x
EV / Sales2020 0,55x
EV / Sales2021 0,51x
Capitalization 22 693 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 274,66  GBp
Last Close Price 233,10  GBp
Spread / Highest target 35,1%
Spread / Average Target 17,8%
Spread / Lowest Target -5,62%
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Managers
NameTitle
David John Lewis Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Antony John Hoggett Chief Operations Officer
Alan James Harris Stewart Chief Financial Officer & Executive Director
Guus Dekkers Chief Technology Officer
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