In the year since Dave Lewis joined Tesco, its share price has had just as much of a rollercoaster ride as the chief executive himself.

In the year since Dave Lewis joined Tesco, its share price has had just as much of a rollercoaster ride as the chief executive himself.

On the day Lewis arrived, September 1 last year, the share price was 225.25p.

Last Friday, the final day of trading before the bank holiday, Tesco’s stock closed at 191.35p.

At the time of writing, a year to the day since he joined, it is trading at 187.6p – down just under 2%.

In between it has hit a low of 164.8p and a high of 251p, reflecting black days such as the emergence of the accounting scandal last autumn and optimism in the spring following a steep rise in the early part of this year after some encouraging signs at Christmas.

When will Tesco be fully on the up again?

A couple of potential disposals may help. Tesco’s Dunnhumby data business and its South Korean division are on the block and sales would bring in some cash.

Unfortunately, they might not fetch as much as originally hoped. Dunnhumby may be valued more lowly than expected because of the impact on profitability of a renegotiation of its relationship with US grocer Kroger.

And the disposal of the South Korean arm, Homeplus, may be impacted by financial turmoil in China after a devaluation of the Korean won.

In the end, a recovery in Tesco’s share price will depend upon a recovery at the core UK business. That looks some way off. The latest Kantar data showed that Tesco remains under serious pressure.

A walk around Tesco stores often seems to show that although some improvements have undoubtedly been made, there is still a great deal to do.

The next chance to hear in detail how Tesco is doing comes next month at the interims on October 7.

It will then be just over a year since Lewis took the helm, so the results should provide an opportunity to gauge what progress is being made.

The likelihood is though that it remains a long haul for Lewis before there’s any real prospect of Tesco returning to its glory days.