Having Upped His Stake Buffett Is Expecting Tesco To Start The Fight Back

03.02.2012 22:20, SeekingAlpha.com: Home Page

By Steven Dotsch:

Tesco (TSCDY.PK) operates multiple retail formats in 14 different countries and ranks among the top three grocery retailers in the world with the U.S.' Walmart (WMT) and France's Carrefour (CRERY.PK) holding top slots.

Tesco is the leading food retailer in the United Kingdom, where it operates about 2,500 of its nearly 4,900 stores worldwide. Tesco holds approximately 30 percent share of the UK grocery market.

The day after Tesco warned that trading profits for its 2012 - 2013 financial year would be "flat," as it steps up investment in its home market following its worst underlying Christmas sales performance for decades, Warren Buffett's Berkshire Hathaway investment company increased its stake in Tesco from 3.21 percent to 5.08 percent.

Buffett's move did not come as much of a surprise as he had declared his interest in further purchases last November and that if Tesco's share price would fall he would buy

Wertpapiere:

•   Tesco PLC (Isin: GB0008847096)
•   Berkshire Hathaway (B) (Isin: US0846707026)