Tesco profits plummet
 

Tesco sees another big fall in profits.

http://www.telegraph.co.uk/finance/n...urnaround.html

Re: Tesco profits plummet
 

It's not as bad as it sounds though.

They still made a profit compared to last year.

Re: Tesco profits plummet
 

Their shares are up 5p. It just depends what story you want to tell as to which figures you decide to use.

Re: Tesco profits plummet
 

The discounters are obviously making inroads but l see Sainsbury's profit forecasts for the year are apparently going to be better then the forecasts and one suspects Tesco even though their profits were much less l suspect in a years time their profits will have increased quite a bit compared to these last couple of years one imagines as they battle back.

Re: Tesco profits plummet
 

I was chatting to a friend who is 82. He was saying he has shares with tesco. If he had sold them a little over 2 years ago he could have gotten almost £440 a share and he has 144 of them. They are now worth around £1.85 per share.

Re: Tesco profits plummet
 

Yes that's the thing with shares as they can go down as much as they can go up.

Re: Tesco profits plummet
 

Yes I know that too well. I sold my shares in Bradford & Bingley in 2004 because I needed money urgently. Had I waited a year, I could have had £1500 instead of the £750 I got.

I don't use Tesco that much myself personally, used to be go there at least 6 days a week, now it is only once a week if that I go in there.

Re: Tesco profits plummet
 

Apart from fresh fruit , veg and meat we tend to shop online as we are always getting money off vouchers but we have no loyalty to any of them.

Re: Tesco profits plummet
 

Our shopping habits have changed quote radically recently. We used to always shop at ASDA or Tesco but the prices are ridiculous really.

Now, we do normal shop at Aldi/Lidl for non perishables such as rice/noodles etc.

We go to a large butchers called Bowlams (Anyone in the north east will know this place!!)

Fruit and veg we get from a farm shop about two minutes away.

Washing liquid/Fabric softener we go and buy in bulk from Makro

Saves a fortune, even when you've added in petrol etc.

Re: Tesco to cut price of milk
 

The main reason why Tesco is losing money, is because they are too expensive.

I have TWO Tesco stores within a mile of each other. And an Asda across the road from me.

There are too many large stores within a small space.

I can normally buy Four bottles of Newcastle Brown for 4.99 in Tesco, they charge 6.00

Re: Tesco profits plummet
 

I assume you mean £4.40, not £440?

Re: Tesco to cut price of milk
 

Yes, in Stevenage we have 2 Tesco Extras, 2 Tesco Express stores, 1 big ASDA store, 1 small Sainsbury's store and 1 big Sainsbury's store. Plus an good size but very average Waitrose. Only supermarket not in town is Morrisons.

Re: Tesco profits plummet
 

We are lucky down here as we have them all plus a big B&M's store just over the bridge.

Re: Tesco profits plummet
 

Since they're listed on the FTSE 100 index, a hell of a lot of people effectively 'own' Tesco shares indirectly via their pension schemes. Then of course there'll be the thousands of employees whose personal investments in the company's share scheme will have been badly hit by the falling share price.

Re: Tesco profits plummet
 

i mean £440 not £4.40. That is what he told me and how much he lost per share.

---------- Post added at 16:42 ---------- Previous post was at 16:40 ----------

I think the fact also they keep changing their stores around and its annoying people. I know of a few people who used to pop in on their lunch times to get sandwhiches or a baguette but since the stores keep changing they were wasting time trying to find things. They tend to shop now at Greggs instead.

Re: Tesco profits plummet
 

Nah, in the past 5 years Tesco shares have maxed out at £4.39. He definitely hasn't lost £440 per share.

Re: Tesco profits plummet
 

Unless he paid more than £1.85 a share he hasn't LOST anything. :)

Re: Tesco profits plummet
 

IIRC B&B shares were issued free to customers depending on the accounts and savings they had with the building society. Of course some people may have bought more but I believe the vast majority were only holders of their free allocation.

Re: Tesco to cut price of milk
 

But you do have a Morrisons in the next town down (WGC)

Then hes mistaken, you can check the historical shareprice for Tesco on google https://www.google.com/search?q=tesc...utf-8&oe=utf-8

Re: Tesco profits plummet
 

Yeah Tesco would have collapsed already if it had experienced that kind of fall. They have problems but they're still a variable business.

Re: Tesco profits plummet
 

Yes, there is a Morrisons in Welwyn and one in Letchworth. Both Garden Cities. Maybe if Stevenage became a GC we would get a Morrisons then?

Re: Tesco profits plummet
 

Tesco fraud trial abandoned pending possible re-trial.

http://www.bbc.co.uk/news/business-42943382

Re: Tesco profits plummet
 

Now over 200,000 female workers have been underpaid which includes holiday's as well than their male colleagues. This could cost Tesco 4 billions pounds.

Re: Tesco profits plummet
 

Allegedly.

Case brought by Leigh Day, who failed for more than five years to reveal that its Iraqi clients pursuing claims against British soldiers were members of a Shia militia.

https://www.theguardian.com/uk-news/...tia-mahdi-army

Re: Tesco profits plummet
 

That would mean every single one of them being underpaid by £20,000 - that seems highly unlikely.

Re: Tesco profits plummet
 

They weren't doing the same job......

Re: Tesco profits plummet
 

Indeed those working with Tesco who have been through some considerable time might get that but l would hazard a guess that the vast majority of their staff would have been taken on in the last 5 years thus they will get nothing like that and add on to that that the vast majority will be part time now as well as the supermarkets don't employ nowhere near the amount of full time staff they once did as in many stores just 1 in 10 are getting a full time salary and that was just a few years ago..

https://www.walesonline.co.uk/news/l...l-time-2506566

Re: Tesco profits plummet
 

Hey this is the UK 2018 we don't do that old fashioned thing of supporting anything we tear things down launch lawsuits and complain someone did better then we did it's the modern way lets hope tesco can stand against it.

Re: Tesco profits plummet
 

I'm not sure this is an equality issue either. Surely there are male shopworkers and there are also women who work in the warehouse as well..Because if not that would be the real equality issue.

Re: Tesco profits plummet
 

Are they seriously suggesting that Tesco and other supermarkets would have been paying £11/hour to shelf-stackers all these years?

Yet another example of women expecting to be paid extra for doing less.

Look at Germany where the unions were trying get up to 2 years reduced hours(28 from 35) with NO LOSS of pay to look after their families. They haven't succeeded, this time.

Re: Tesco profits plummet
 

Trying to equate shop workers with warehouse workers is like trying to equate apples and pears. They are patently different jobs. Now as Maggy J says if men and women in the SAME jobs were being differenciated against then there is an issue.

Just looks like more of the current PC / snowflake nonsense.

People need to man woman person up. I'll go on awarenss course. :tiptoe:

Re: Tesco profits plummet
 

Don't like Tesco's. One time I went to the meat counter and asked advice and the lady working on the counter was vegetarian. Another time did same for cheese and the staffer didn't like cheese. Compare to Waitrose where they normally have specialists on these counters who are enthusiastic about their wares, make suggestions and help you get what you need.

Re: Tesco profits plummet
 

"Well of you can't beat them then join them" as they say..

https://www.theguardian.com/business...-aldi-and-lidl