Richard Broadbent, Non-executive Chairman of Tesco, has underlined his faith in the company with the purchase of £99,486-worth of shares following the supermarket giant's worst Christmas trading in 20 years.
Broadbent, 58, who has been in the role only since November, purchased 30,149 at 329.98p each.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Must do better" was the theme of the statement, which reported that sales excluding fuel but including Value Added Tax (VAT) in the six weeks to January 7th were down 1.3% on a like-for-like (LFL) basis versus the previous year.
Broadbent's purchase reflects the firm's plans for 2012/13 to "substantially increase" investment to deliver an even better shopping trip for customers, particularly in the UK.
The company's share price has fallen over 20% in the past year, and 18% in the last month.
Top Director Buys
Tesco (TSCO)
Director name: Sir Richard Broadbent
Amount purchased: 30,149 @ 329.98p
Value: £99,486
Top Director Sells
Marks & Spencer Group (MKS)
Director name: Mr John Dixon
Amount sold: 50,769 @ 315.00p
Value: £159,922
-
Football fans issued warning over ticket scams ahead of 2026 World CupSantander customers lost more to football scams in the first six months of 2025 compared to the same period in 2024, when total losses surged due to the Euros
-
Nationwide fined £44 million over “inadequate” anti-money laundering systemsFailings in Nationwide’s financial crime processes between October 2016 to July 2021 meant one criminal was able to deposit £26 million from fraudulent Covid furlough payments in just eight days.
