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Tesco (TSCO)

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Up 235.50p
Change Today:
1.00p
Market Cap:
23,064m

Tesco plans cashierless stores to compete with Amazon

26 Jun 19

LONDON (ShareCast) - (Sharecast News) - The UK\'s largest grocery chain Tesco is planning to introduce cashierless stores in the country in a move that would cut costs and make it the leader in self-checkout food retail.
Joining with Israeli startup Trigo Vision for help, Tesco could use a system of cameras and software that allows retailers to automatically charge customers, three people close to the matter told Bloomberg.

Tesco aims to compete against Amazon and its expanding partnership with Morrisons. Already in the US, Amazon plans on opening 3,000 Amazon Go stores that require no checkout.

Removing the cashiers might help Tesco reduce its workforce over time and improve profit margins.

The news comes after Tesco said earlier in June that it\'s looking at a range of new technologies, which also includes robot delivery vehicles.

However, checkout-free stores are \"one thing we\'re testing, but it\'s not something we\'re ready to roll out yet,\" a spokeswoman reportedly said.

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Market Data

Currency UK Pounds
Price 235.50p
Change Today 1.00p
52 Week High 253.00p
52 Week Low 189.55p
Volume 14,409,810
Shares Issued 9,794m
Market Cap 23,064m

Dividends

  Latest Previous
  Final Interim
Ex-Div 16-May-19 11-Oct-18
Paid 21-Jun-19 23-Nov-18
Amount 4.10p 1.67p