Tesco's bemoaning that profits are down

ceridwen

...and, on the shopping front, I read today that T*sco will definitely be expecting their suppliers to "take a hit" to cover the "apparent" price cuts they tell us they have just done.

Further - its spread from supermarkets...M*rks & Sp*ncers has now joined the bandwagon of telling their suppliers to hand over some of their money to M & S. The way they have done this is to "ask" their suppliers to hand back 1.25% of the money M & S have paid them over the last year - in order to have their suppliers pay towards refurbishment of M & S shops. I dont think I need to spell out what word comes straight to mind to describe M & S conduct on that front....:cool:.

Suffice it to say that if my employer "asked" me to hand back any of my salary they had paid me over the previous year they would darn soon get a "flea in their ear" and if the D word came up (unfair Dismissal) for refusing to do so - I'd still hand over said "flea in ear" instead of any of MY money.

lynzpower

its not just the UK: Tescos japanese and American operations have failed spectacularly giving them a massive loss.

Quasar

ceridwen wrote: »

...and, on the shopping front, I read today that T*sco will definitely be expecting their suppliers to "take a hit" to cover the "apparent" price cuts they tell us they have just done.

Further - its spread from supermarkets...M*rks & Sp*ncers has now joined the bandwagon of telling their suppliers to hand over some of their money to M & S. The way they have done this is to "ask" their suppliers to hand back 1.25% of the money M & S have paid them over the last year - in order to have their suppliers pay towards refurbishment of M & S shops. I dont think I need to spell out what word comes straight to mind to describe M & S conduct on that front....:cool:.

Suffice it to say that if my employer "asked" me to hand back any of my salary they had paid me over the previous year they would darn soon get a "flea in their ear" and if the D word came up (unfair Dismissal) for refusing to do so - I'd still hand over said "flea in ear" instead of any of MY money.

That is precisely one of the reasons that I do try to shop in small independent shops whenever I can, even if it's a tad more expensive, and eat a bit less. I appreciate that it's easy for me as I'm on my own and don't have a family to feed, but these despicable supermarket practices end up lining the pockets of the big corporation shareholders, and squeezing the life out of suppliers and small shops.

zenseeker

JackieO wrote: »

wondered how their profits can be down considering they seem to be putting their prices up almost daily

Because people are spending less money, it's not a complicated equation.

zenmaster

No they're not.

Pre-tax profit for the 26 weeks to 27 August was £1.9bn, up 12.1% on a year earlier. Group sales rose 8.8% to £35.5bn, but like-for-like UK sales excluding VAT and petrol fell 0.5%.

The company highlighted "excellent growth" in Europe and Asia but also "subdued demand" in the UK.

Hardly a "massive loss".

It's just the haters getting all excited over nothing.

emmamed

i feel so sorry for Mr T, not. they started going downhill when they stopped taking coupons.

VoucherMan

Tesco put up prices.

...so less people shop at Tesco.

...so Tesco make less profit.

...so Tesco put up prices.

They try various deceptions to make us think they're reducing prices but sooner or later they may realise that we're not as stupid as they think we are.

COOLTRIKERCHICK

do you think it was a ploy by T's? as lets be honest they will do anything to get on tv, free publicity and free tv exposure on the news

I must admit i go through phases with my shopping, I used to only shop in independants, then i got lured into shopping back in t's with the use of money off coupons... after that i tried Asda, but now i spend less by shopping in local independants, and farmfoods for my milk and bread etc..

similar to what has been said in a previous post, people are so fed up with tesco being round every flipping corner...

I really hope that the recession and the hard times show people that there is far better quality products and prices out there.. and the likes of T's are just out to con us into thinking they are giving us the best value and deals........

shammyjack

zenmaster wrote: »

No they're not.

Hardly a "massive loss".

It's just the haters getting all excited over nothing.

I AM a TESCO hater !

I use all supermarkets to my gain and have no loyalty whatsoever to any but I despise TESCO management and their business model. It is the one supermarket chain that I only use for reduced goods , glitches and glaring miss prices. I never buy anything in there at full price !

shammy

wannabehermit

My heart bleeds for them.

I use mysupermarket every week. I'd rather not use tesco as I can't stand the place but if they come out cheaper I will do. Recently though (3 of the last 4 weeks) Sainsburys has come out a lot cheaper than both asda and tesco, and that's with checking what silly substitutions the website has put in. I'd rather shop at Morrisons over any of the 'big 4' but we don't have a decent one near us unfortunately.