April 22, 201510 yr Tesco posts record £6.4bn annual lossLONDON: -- Tesco has reported the worst results in its history with a record statutory pre-tax loss of £6.4bn for the year to the end of February.That compares with annual pre-tax profit of £2.26bn a year earlier.It is the third year in a row in which the supermarket giant has reported falling profits.Around £4.7bn of the losses were the result of the fall in property value of its UK stores, 43 of which it said would close earlier this month.Annual group trading profit, which counts sales through the supermarket's tills was also down 60% at £1.4bn, compared with £3.3bn a year earlier.Tesco chief executive Dave Lewis admitted it had been "a very difficult year for Tesco".Full story: http://www.bbc.com/news/business-32408661 -- BBC 2015-04-22
April 22, 201510 yr Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too
April 22, 201510 yr Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too Hopefully with about the same products as in germany . Otherwise it just the same crap but cheaper than big c & lotus.
April 22, 201510 yr It stated that the loss was the result of property devaluation, not trading losses.
April 22, 201510 yr ....a good thing...it should help them in their 'tax situation'.... ...but one would think that sales should pick up....before they 'go the way of the dinosaur'.....
April 22, 201510 yr The consensus seems to be that the new CEO has basically bundled every single bit of bad news he can find into that set of accounts, so that from here on he can report good news.They are binning properties in rural areas and they've cancelled 49 development projects.Apparently online shopping is having its effect. I think this is good news for the small retailer, I would never buy fruit, veg, meat, fish, etc. online. Maybe we'll see the return of the local butcher, fishmonger, etc.
April 22, 201510 yr Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too If I go shopping in Tesco I need to take my computer and walk round the store 3 times to TRY and make sure I'm not paying too much. Although they are not alone Tesco service is rubbish, they mix up offers with full prices. If you are shopping for one, you pay over the top for some items because of the number of items offered on a buy 2 get 25% discount. When you live alone it is not always possible to take advantage. Then we get to the check out and we are expected to do that ourselves hmmmmm Tesco's of course are not alone. Morrison's fruit shortcake biscuits 45p for 1 pack 75p for 2 packs Mc Vities fruit shortcake 1 pack £1.02. If they selling their own brand at 37.5p then they probably pay 20p sooooooo how much is a Morrison's buyer going to pay Mc Vities per pack 25p?? 50p?? 75p??
April 22, 201510 yr When the coriander cost 1000b kilo in the Tesco i choose Macro 165b. Tesco really sucks in Thailand, no thanks!
April 22, 201510 yr Q? What huge supermarket chains in the world make losses? A: Only those involved BS tax shifting/avoidance schemes.
April 22, 201510 yr It stated that the loss was the result of property devaluation, not trading losses. Wrong Statement or they not tell everything!!! https://www.google.co.th/search?q=tesco+loss+discounter+aldi+lidl&sourceid=ie7&rls=com.microsoft:de-DE:IE-Address&ie=&oe=&gws_rd=cr,ssl&ei=AZw3VcLcLdC3uQStpIGgDw
April 22, 201510 yr <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> The consensus seems to be that the new CEO has basically bundled every single bit of bad news he can find into that set of accounts, so that from here on he can report good news.They are binning properties in rural areas and they've cancelled 49 development projects.Apparently online shopping is having its effect. I think this is good news for the small retailer, I would never buy fruit, veg, meat, fish, etc. online. Maybe we'll see the return of the local butcher, fishmonger, etc. would'n't that be nice. Who wants Tesco anyway. Holland does do very well there.
April 22, 201510 yr Basically they have written down everything they can in one big go and get the bad news out the way all at the same time.
April 23, 201510 yr <script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script> Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too If I go shopping in Tesco I need to take my computer and walk round the store 3 times to TRY and make sure I'm not paying too much. Although they are not alone Tesco service is rubbish, they mix up offers with full prices. If you are shopping for one, you pay over the top for some items because of the number of items offered on a buy 2 get 25% discount. When you live alone it is not always possible to take advantage. Then we get to the check out and we are expected to do that ourselves hmmmmm Tesco's of course are not alone. Morrison's fruit shortcake biscuits 45p for 1 pack 75p for 2 packs Mc Vities fruit shortcake 1 pack £1.02. If they selling their own brand at 37.5p then they probably pay 20p sooooooo how much is a Morrison's buyer going to pay Mc Vities per pack 25p?? 50p?? 75p?? who cares it pennies
April 23, 201510 yr Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too I worked for Tesco in the UK for 13 years and prior to my taking early retirement I could see the writing on the wall. Talk about tesco looking after their staff NOT it was penny pinching all the way. Cut down on Section Managers and pay regular staff a few pence more to do their job saving millions in staff cost. Even store managers were only allowed to spend I believe 50% of their time doing their job and the rest of the time be on the shop floor thereby reducing staff levels on the shop floor. Everyone including Store managers had to wear the same uniform so when a customer came in the store they did not know if they were talking to the Store Manager or the man collecting the trollies. Even my job as Security manager at a large store was not safe as they were making cuts in that area despite the fact that what I saved in lost/stolen property was more than 50 times my salary. Penny pinching all the way and look where you are now and all your own fault. At one time it was a GOOD company to work for but not now
April 23, 201510 yr Yes, the Germans are coming!!! 555 Aldi, Lidl, ..... Time they comes to Thailand too I worked for Tesco in the UK for 13 years and prior to my taking early retirement I could see the writing on the wall. Talk about tesco looking after their staff NOT it was penny pinching all the way. Cut down on Section Managers and pay regular staff a few pence more to do their job saving millions in staff cost. Even store managers were only allowed to spend I believe 50% of their time doing their job and the rest of the time be on the shop floor thereby reducing staff levels on the shop floor. Everyone including Store managers had to wear the same uniform so when a customer came in the store they did not know if they were talking to the Store Manager or the man collecting the trollies. Even my job as Security manager at a large store was not safe as they were making cuts in that area despite the fact that what I saved in lost/stolen property was more than 50 times my salary. Penny pinching all the way and look where you are now and all your own fault. At one time it was a GOOD company to work for but not now A further comment is that they are in Thailand and the standard here is so bad I am surprised Tesco don't pull out Out of stock items in the hundreds and I am talking everyday items. Their fruit and veg dept is total crap and ask an assistant where something is and they dont know or just point as they are too busy do their hair or make-up. Big C is better and I find 95% of the time I can get all I need and the service at the checkouts is far superior than Tesco Lotus. Think Tesco Lotus should be looking at sacking their senior staff and getting their act together.When I was Duty Manager in the UK I would not have accepted the standards they do here in Thailand. Come on Aldi and Lidl there is a big opening here for you if you do it right
April 23, 201510 yr When the coriander cost 1000b kilo in the Tesco i choose Macro 165b. Tesco really sucks in Thailand, no thanks! I agree, it does, but Tesco in Thailand is really a gnat in the corporation accounting for very minimal sales. It is nothing like UK Tesco. Having said that, walking around a Tesco supermarket in the UK, they just don't compare with the others nowadays esp Sainsbury.
April 23, 201510 yr When the coriander cost 1000b kilo in the Tesco i choose Macro 165b. Tesco really sucks in Thailand, no thanks! I agree, it does, but Tesco in Thailand is really a gnat in the corporation accounting for very minimal sales. It is nothing like UK Tesco. Having said that, walking around a Tesco supermarket in the UK, they just don't compare with the others nowadays esp Sainsbury.
April 23, 201510 yr But the biggest Problem is in Thailand that you can compare Tesco only with BigC. It not give other BIG supermarket chains. So they can charge us much more higher as in europe!!! Just look the ridicoulos prices of a lot of products.
April 23, 201510 yr This report does not surprise me based on the way my local store is run. Frozen food that is not kept frozen, rotten meat, products that are here one week and gone the next only to reappear somewhere else in the store a month later, good stuff that flies off the shelves is discontinued while the low quality overpriced stuff fills the vacent spot, etc, etc. Thank goodness there is Tops and Makro.
May 18, 201510 yr Tesco in Thailand suck big time, as do Big C - only Makro have some good products for a fair Price so I agree with others: Lets get some german supermarkets like Aldi or Lidl btw so bad to see that Tesco and Big C have same same prices on almost everything ... makes you Wonder about pricecontroll which is probably legal here as most other retardo things
May 18, 201510 yr Tesco in Thailand suck big time, as do Big C - only Makro have some good products for a fair Price so I agree with others: Lets get some german supermarkets like Aldi or Lidl btw so bad to see that Tesco and Big C have same same prices on almost everything ... makes you Wonder about pricecontroll which is probably legal here as most other retardo things Tesco and Big C. Talleys garden peas, around 100 Baht for 500 gram. Makro the very same peas, 70 Baht, FOR 1 KG.
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