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every little had better help... Tesco massive loss
vivatifosi
Posts: 18,746 Forumite
Breaking news on Sky, will put link up when I get one.
Sky reporting that Tesco likely to report a £5bn loss tomorrow, one of the largest ever in UK corporate history.
ETA.. link:
http://news.sky.com/story/1469652/tesco-loss-to-be-among-biggest-in-uk-history
Sky reporting that Tesco likely to report a £5bn loss tomorrow, one of the largest ever in UK corporate history.
ETA.. link:
http://news.sky.com/story/1469652/tesco-loss-to-be-among-biggest-in-uk-history
Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Presumably though it will be 2bn operating profit and 7bn write down in the value of their retail sites, overseas operations etc and will set them up nicely to pay no tax for the next few years.I think....0
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presumably a write down in the value of its property portfolio rather that straight trading losses?
they have become very complacent so deserve a battering0 -
Almost certainly property write downs. Tesco feels a bit like RBS to me in the extent that it had expanded away from core. Was it £1 in every six that was spent there not that long ago (in the Leahy days)?Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Has a £5 billion hole in it's pension fund to fill as well. Tesco's will become the next M&S. A fallen star.0
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It sounds a lot to me like 'kitchen sinking'. Chuck all the losses you reasonably can into a single time period and then set performance incentives for management from the low point.
I'll try to remember to look up the AGM to see if they do that.0 -
Thrugelmir wrote: »Has a £5 billion hole in it's pension fund to fill as well. Tesco's will become the next M&S. A fallen star.
There are probably more than a few people who thought that buying Tesco shares after their recent fall was a 'no brainer' and that they were sure to recover. I must admit that it crossed my mind, but I quickly realised that I didn't have enough information to jump to that conclusion, and additionally I now avoid single company shares like the plague. Which reminds me that I need to get rid of my BT shares, this should be a good buying opportunity for everyone else, I got rid of my Aviva shares recently and 2 days later the share price shot up.
EDIT: Although this article seems to think otherwise: Tesco shares could leap after last goodbye to disastrous 2014. Which seems to back up Gen's 'kitchen sinking' theory above.
http://www.cityindex.co.uk/market-analysis/market-news/37390992015/tesco-shares-could-leap-after-last-goodbye-to-disastrous-2014/Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Results now in. Loss 6.37bn. 7bn write downs. Trading profit 1.4bn. Plan in place for pension fund. Loss is fifth biggest ever by a British co.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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And what does that mean for uk tax revenue not just this year but for the next 2 as well when profits can be offset against these losses....vivatifosi wrote: »Results now in. Loss 6.37bn. 7bn write downs. Trading profit 1.4bn. Plan in place for pension fund. Loss is fifth biggest ever by a British co.I think....0 -
Here's the actual regulatory news so you can all have a good look at the numbers:
http://hsprod.investis.com/ir/tsco_iframes/ir.jsp?page=news-item&item=2048948508295168Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Tesco has opened higher, 3 mins after opening the share price is up 1.4%. Although it has fallen back a bit now:
https://www.google.co.uk/finance?q=tesco&ei=LUg3VdDQFMr58gPM6IHoDAChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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