Rip off merchant Tesco posts £6.3 billion loss

[Dedworth]

Read more: http://www.dailymail.co.uk/news/article-3049662/Tesco-set-announce-horror-5bn-loss-Retailer-downturn-one-biggest-British-history-seismic-shift-shopping-habits.html

Payback time for these racketeers after years of spearheading Rip off Britain

[Longweekend]

Couldn't happen to a nicer bunch....

[Dedworth]

I hope there's a court case and jailings

[grahamw48]

I hope they don't close the small one in my village . It's actually the cheapest shop here !

[ajisgod2012]

Every lidl helps!

[London_Manila]

Lidl is fine but offers only limited lines

[Michael Parnham]

Hope every single Tesco closes down, they are expensive!

[Dedworth]

Lidl is fine but offers only limited lines

Suits me I'm not after 15 types of cornflakes with air in the top of the box to make it look like you're getting more. Plain or Honey Nut is enough for me at half Tesco's rip off price.

40000 unnecessary lines equals more going in their skip which you're paying for

[Michael Parnham]

Suits me I'm not after 15 types of cornflakes with air in the top of the box to make it look like you're getting more. Plain or Honey Nut is enough for me at half Tesco's rip off price.

40000 unnecessary lines equals more going in their skip which you're paying for

Too right!

[irishman12]

Hope every single Tesco closes down, they are expensive!

if they are expensive -then you have a choice not to shop there but bit crazy wanting them all to shut down

[KeithD]

Actually, Tesco shops made a profit of £1.4 Billion. The loss is down to a number of factors such as property and land revaluations, as well as right-downs overseas. So it is nowhere near as gloomy as the figures look, which is why the share price is holding up well.

[grahamw48]

True.

The boss said he was wanting to clear the decks. Mostly paper shuffling, but gets the bad news out of the way, then onward and upwards.

Some are maybe also forgetting that they are STILL far and away the biggest retailer in the country, employing many thousands of good people.

[London_Manila]

Suits me I'm not after 15 types of cornflakes with air in the top of the box to make it look like you're getting more. Plain or Honey Nut is enough for me at half Tesco's rip off price.

40000 unnecessary lines equals more going in their skip which you're paying for

I like Lidl for the weekly special offers they do in the middle aisle (non food)
Chicken Tikka masala ready made meal is very good also
Cleaning products are cheap

For my weekly food shopping i prefer Sainsbury's much more choice and their products are tasty and fresh

[Ako Si Jamie]

Talking of Tesco's......

Millionaire weasel caught shoplifting.

http://www.birminghammail.co.uk/news...ng-200-9091711

Unbelievable

[Dedworth]

which is why the share price is holding up well.

310p a year ago, 225p today, they lost 5 percent yesterday, no final dividend, holding up nicely

[KeithD]

A 5% drop on a £6 Billion loss is holding up well. Since yesterday, it has been increasing ad will continue to do so over the coming months, hence the reason major investors are not bailing out.

[raynaputi]

Hope every single Tesco closes down, they are expensive!

So you want every worker to lose all their jobs and sign up for JSA?

[SimonH]

Good job they sold their 5 private jets

http://www.theguardian.com/business/...ision-wound-up

[Dedworth]

A 5% drop on a £6 Billion loss is holding up well. Since yesterday, it has been increasing ad will continue to do so over the coming months, hence the reason major investors are not bailing out.

Warren Buffett reckons investing in Tesco cost him $678 million

http://money.cnn.com/2015/04/22/inve...-loss-buffett/

[Dedworth]

So you want every worker to lose all their jobs and sign up for JSA?

Nope the country still has to eat and Aldi and Lidl will continue to expand, hiring experienced shop workers and satisfying the needs of sensible shoppers

[Terpe]

Here in Davao City we have quite a few drug stores called Tesco

I doubt it has any connection to Tesco supermarkets but it's always interesting to see such well known names.

I was never really a fan of Tesco supermarkets for whatever reason.

[Dedworth]

Here in Davao City we have quite a few drug stores called Tesco

I doubt it has any connection to Tesco supermarkets but it's always interesting to see such well known names.

I was never really a fan of Tesco supermarkets for whatever reason.

Some good reasoning from the experts here :-

Read more: http://www.dailymail.co.uk/news/arti...#ixzz3YEKUzAee

I like the bit from Greenbury former CEO of Marks & 'Spensive

When I ran Marks & Spencer we looked at having a private jet for the board. I deemed it too expensive, even when we were making a billion pounds a year.

Tesco having four private jets tells you something about the culture of the place.

It has also tried to do far too much. It tried conquering the Far East, then China. But to try to go into America at the same time was a very, very bad idea.

You cannot conquer the world overnight.

[Arthur Little]

Tbh ... I'd really miss Tesco if it went out of business. There are no fewer than three branches in a comparatively small city like Perth - one being open 24 hours within a mile of where I live - which is very handy!

[Dedworth]

Tbh ... I'd really miss Tesco if it went out of business. There are no fewer than three branches in a comparatively small city like Perth - one being open 24 hours within a mile of where I live - which is very handy!

Bicester - 6 Tescos Population 28000
Perth - 3 Tescos Population 47000

If they weren't losing money Arthur they'd still be opening shops to increase their stranglehold

[Arthur Little]

Bicester - 6 Tescos Population 28000
Perth - 3 Tescos Population 47000

Bicester ... with its smaller population ... 6 Tesco stores ? Amazing!

If they weren't losing money Arthur they'd still be opening shops to increase their stranglehold

's true. But then aren't they all at the same game ... in trying to outdo their competitors?

[Dedworth]

I think their policy is to shaft the local independent shop keepers also if they flood an area the Sainsburys, Morrisons etc are likely to find it unviable to pitch up with one of their smaller local shops.

I despise and boycott all these Tesco Express, Sainsburys Local small shops they are well overpriced. Your money goes further in the likes of CoOp, Budgens and independent (obviously on the latter having regard to their employment and environmental health records )

[grahamw48]

Now you're making me feel guilty Dedworth.

In my village (pop 6,700), I have a good-sized Co-Op a few hundred yards from my house, but they are EXPENSIVE on all items.

Further down the hill there is a Tesco Express type place which is much cheaper (I can also compare their prices to my huge Tesco near my last house in York, and to be fair, there's little difference, despite ours being in the middle of nowhere).

A can of baked beans...my staple diet, is 32p in Tesco and at least 69p in the Co-Op.

Bread...large Hovis 50/50...Tesco 78p. Co-Op £1 plus.

1 litre milk...Tesco 79p. Co-Op, £1 plus.

On price, simply no contest, and these stores are less than 200 yards apart.

[Longweekend]

Sometimes wonder how the Co-Op keeps trading, they seem to be very expensive....

[grahamw48]

They've always been dear.

I started in the grocery trade as a trainee representative with Spillers Foods back in 1971, and have followed with interest the development of these retailers....all of whose branches I used to call on back in their infancy (in the case of ASDA and Morrisons particularly).

ASDA of course was originally the child of Associated Dairies, and their first store was in Pudsey, W.Yorkshire. One of my calls when they only had 6 stores in the whole country.
Those first stores were just like big Lidls or Aldis...even more primitive. Like warehouses with just cartons cut open (by me and others ) , then stacked high.

Morrisons started in John Street in Bradford, and again, Mr. Morrison himself used to be my customer.

I was popular when I was handing out free 'Flour Graders'.

[Dedworth]

A can of baked beans...my staple diet, is 32p in Tesco and at least 69p in the Co-Op.

Bread...large Hovis 50/50...Tesco 78p. Co-Op £1 plus.

1 litre milk...Tesco 79p. Co-Op, £1 plus.

On price, simply no contest, and these stores are less than 200 yards apart.

Maybe theres a rogue Manager in your CoOp Graham ours (Mid Counties CoOp) 2 pints milk £0.85, own brand top spec farmhouse loaves £0.75, I think they were doing 4 tins Branston Beans for £1.00 the other day. Good sticker reductions on the Pikey Shelf - I got some scallops this week for £1.75 and 2 Herefordshire 1/4lb Burgers £0.79