Tesco PLC staff set for £134m sharesave windfall as UK grocery inflation ticks up
Tesco says over 22,000 employees are set to split as much as £134 million through its Save As You Earn program—a company scheme letting staff lock in future share purchases at a fixed price. Those choosing to cash in now will see average profits land somewhere between £5,000 and £8,000, with Tesco pinpointing payouts of around £5,346 for typical three-year participants and £8,004 for five-year savers. Chief people officer Emma Taylor called it a “really tangible reward.” The retailer notes this year’s payout is more than quadruple last year’s £30 million, a leap driven by shares climbing nearly 25% over the past year. The payout comes as British food prices start ticking higher again, leaving supermarkets squeezed by rising costs even as they fight to keep prices attractive. Grocery inflation in the UK nudged up to 4.3% for the four weeks ended Feb. 22, according to Worldpanel by Numerator. Tesco posted a 4.5% sales gain in the 12 weeks to Feb. 22, boosting its market share by 20 basis points to 28.7%. Sainsbury’s managed 5.2% sales growth, pushing its share up to 16.1%. Asda saw sales slip 2.6%. Among physical stores, Lidl again outpaced rivals as the fastest-growing chain.
