TSCO, SBRY, MKS: Should you buy these stocks amid salmonella scare?

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TSCO, SBRY, MKS: Should you buy these stocks amid salmonella scare?

 TSCO, SBRY, MKS: Should you buy these stocks amid salmonella scare?
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Highlights

  • Sandwiches, wraps, and over 100 other products with cooked chicken have been withdrawn from sale by the UK’s major supermarket chains due to salmonella scare.
  • Major supplier Cranswick Country Foods urged its customers to not consume its ready-to-eat chicken which was delivered in a specific time span.
  • The Foods Standards Agency (FSA) has asked the customers to return the purchased items at the supermarkets for a full refund. 

Sandwiches, wraps, and over 100 other products with cooked chicken have been withdrawn from sale by the UK’s major supermarket chains. This happened due to the emergence of a salmonella scare at Cranswick Country Foods, which is a major supplier. The affected supermarkets include Tesco, Sainsbury’s, Marks & Spencer, Aldi, Waitrose, etc. Costa, Starbucks, and Amazon are also possibly tainted.

Over 100 other products with cooked chicken have been withdrawn from sale by the UK’s major supermarket chains

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Cranswick Country Foods was carrying out a routine inspection at its poultry processing factory in Hull, and it found salmonella bacteria in some of its products. Thus, it urged its customers to not consume its ready-to-eat chicken which was delivered in a specific time span. Greencore, which is the UK’s leading sandwich maker, has declared that it is exploring alternative supply options to avoid any shortage in its production.

Coordinating with the Foods Standards Agency (FSA), Cranswick Country Foods is making all efforts to investigate and resolve the concerns as soon as possible. Its site at Hull has been shut down until it gets full assurance that the safety and quality of its products hasn’t been compromised. The FSA has asked the customers to return the purchased items at the supermarkets for a full refund, while retailers and cafes have released the lists of the impacted products along with the dates by which they can be used.

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Let’s look at the share price performance of 3 leading UK supermarket stocks.

Tesco plc (LON: TSCO)

The shares of the leading UK-based retailer of groceries and general merchandise, Tesco plc, were up by 0.99% as the market opened at around 8:00 AM (GMT+1) on 13 May 2022, at GBX 276.80. The company, which is a constituent of the FTSE 100 index, has given its shareholders a return of 21.94% over the last one year as of 13 May 2022. The current market cap of the company stands at £20,863.40 million.

J Sainsbury plc (LON: SBRY)

The shares of the second biggest chain of supermarkets in the UK, J Sainsbury plc, were up by 0.90% as the market opened at around 8:00 AM (GMT+1) on 13 May 2022, at GBX 236.50. The company, which is a constituent of the FTSE 100 index, hasn’t performed well over the past year and its one-year return as of 13 May stands at -8.34%. The current market cap of the company stands at £5,6456.35 million.

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Marks and Spencer Group plc (LON: MKS)

The shares of the UK-based global retailer which sells food and other products, Marks and Spencer Group plc, were up by 2.31% as the market opened at around 8:00 AM (GMT+1) on 13 May 2022, at GBX 144.15. The company, which is a constituent of the FTSE 250 index, hasn’t performed well over the past year and its one-year return as of 13 May stands at -5.42%. The current market cap of the company stands at £2,760.14 million.

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