Tesco PLC (ADR)(OTCMKTS:TSCDY) was a notable decliner during the trading session on Thursday. The stock plunged by close to 2% on the back of twice the daily average volumes. The stock has been in a downturn and has underperformed the broader markets, which is a cause for concern. The stock currently trades below important moving averages. The relative strength index has given a sell signal. The momentum oscillators continue to trend lower, which is considered to be a bearish sign. Traders believe the stock could go towards an intermediate support level of $7.47 in the near term and continue facing resistance near $8.15.
Tesco PLC (ADR)(OTCMKTS:TSCDY) has won over 22 gongs at the prestigious Quality Food and Drink Awards 2015, a great performance that reflects company’s preparations for Christmas.
Some of the festive deals like Turkey Crown with pork, salted caramel ice creams & Tesco best Premier Cru NV champagne, apple and chestnut stuffing, Amaretto Panettone and Amontillado sherry trifle are up for grabs. Customers can make their festival more appealing and memorable by opting for these festive deals.
Insights of The Matter
Tesco PLC has been recognized for its offerings in over 20 categories, including salads, fresh produce, frozen foods, etc. It has also received Gold Q awards for Everyday Value Cottage Pie and Tesco Free From Strawberry and Vanilla Cones. Based on the high-end quality offered by the company, it received 40 highly commended feedbacks.
Management’s Call
The senior management of the company is delighted to announce these results and hopes that Tesco will continue to perform like this in the upcoming quarters as well. According to Jason Tarry, Chief Product Officer, Tesco, it’s the great enthusiasm of the entire team, which has earned such great response in a limited time. Tesco will continue to come up with more such lucrative offers in the coming months.
Tesco’s Support For Armed Forces Veterans And Reservists
Meanwhile the company has also decided to increase its support for armed forces veterans and reservists. One of the new measures announced by Tesco comprises of a revamped armed force network and an additional paid leave offer. In a recent announcement, it said that it would shift the entire focus towards serving armed force people in an effective way.
They deserve to be treated well, and Tesco’s trying to do just that, it stated in a recent statement. It’s not the first time when it has done something like that. Last year, Tesco became the first and only retail service provider to sign up for Military Corporate Covenant of Ministry of Defense. It looks forward to taking many more such steps in the future, details of which will be shared at a later stage.
