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.