idpickering wrote:3Q and Christmas Trading Statement 2020/21
RNS here; https://www.investegate.co.uk/tesco-plc ... 00076290L/
It's not one I own so haven't dug into this too deeply, however I have concerns here, hopefully only short term ones.
Read the RNS and a lot of the talk is about growing revenue across the unprofitable bits of the business such as home delivery, and like-for-like declines in areas such as Booker. There are, of course, good reasons why food wholesalers will be suffering at the moment.
Throughout the RNs there is plenty to say about stakeholders, about ensuring communities are fed, staff are safe etc. but nothing about shareholders and profitability. Are companies really so scared about making money these days? Maybe they are, or maybe it is just PR. Given how the company, and industry as a whole, "caved in" and repaid government support, which hugely impacted profits, perhaps it is now the case. Again hopefully this is just a short term, during the pandemic, response.
For those for whom it is important there is guidance on the time scale for the special dividend, and completion of the Asian disposal.
In general not a lot here to get me excited about digging deeper into the company, and assessing potential investment.