Whats the future for Tesco Lotus?

[farangmick]

Don't care. 100k to my nearest store in Phetchabun. Very little English food, probably because a lot more Thais than farang shop there!. I rely on occasional trips to BKK, and occasional red cross parcels from a mate in KK.

[Briggsy]

http://www.tescoplc.com/index.asp?pageid=29

[Robert24]

I'm a Tesco shareholder and I'm annoyed that they sold the South Korean operation. It was a cash cow - and as rare as it is for a UK company to do well in overseas markets - that disposal was crazy.

Tesco have been approached re their Thai stores - 1800 stores, and the mooted price is £900 million. Tesco need to refuse this advance - the fundamental problem is in the home market - it's crazy selling off foreign cash cows to make up for the deficincies in UK management.

I agree with your sentiment, but if you are desperate for capital, sometimes you have no choice but making a tactical move and sell one of your assets at a good price to bolster your capital situation.

Yes - but the price wasn't good.

well hard for me to say if the price was good or not good, I really don't have enough inside into the retail M&A activity. Tesco sold it for $6.1bn which was 9.1 times 2014 earnings. Also total market value of Tesco is $18bn and the Korea unit only makes up for about 8% of revenues from Tesco globally.

The other factor is that I guess Tesco was under pressure to sell some assets, this is not usually the time you get the best price for what you want to sell.

[nong38]

http://www.tescoplc.com/index.asp?pageid=29

Its not good reading is it, £1.4m profit on £69m income? Asia seems to be doing the best, but that was before they sold off Korea for £4.2b. £900m for the Thai operation would seem derisery to me but no porblem in sticking a toe in the water. Sir Terry knew when to bail out dont you think?

[soalbundy]

Yes your right about staff absolutely no idea ask questions and typically run away, it's not stock problem you can't train people who don't want or can't speak even basic English, everyone raves about Asian, wait and see the lost Los

You are expecting a bit much aren't you ? How many supermarket staff in England can speak French or German, right, none, despite us being in the EU for years. You live in Thailand, learn basic Thai instead of sitting at the bar all day.

[soalbundy]

A new Tesco has just opened up in Prasat,near Surin, it's huge, it's brilliant, when i take the kids shopping it's like a good day out.

[i claudius]

A new Tesco has just opened up in Prasat,near Surin, it's huge, it's brilliant, when i take the kids shopping it's like a good day out.

Now that is the problem with living in the boonies , its sad when going to Tesco is your idea of a day out

sorry

Edited October 1, 2015 by i claudius

[lopburi3]

But then again some of us remember when the Central Department Store was a 3 floor walk-up here in Bangkok but was considered the peak shopping experience in Thailand.

[soalbundy]

A new Tesco has just opened up in Prasat,near Surin, it's huge, it's brilliant, when i take the kids shopping it's like a good day out.

Now that is the problem with living in the boonies , its sad when going to Tesco is your idea of a day out

sorry

Not sad, it's rather nice and innocent, we have clean air and nice helpful neighbours, at the village shop we can get credit,everyone has a credit book. I always have a laugh and a joke with the middle aged lady serving there and when my wife goes in to shop she gives my wife a small cake for free for her 'gig' as she jokingly calls me. When we go out shopping in the small town or to Surin my teenage step daughters get dressed in their best and my 8 year old son gets excited about a new toy car,it is much as i would imagine it was like in the 30's in England. No surly teenagers here, the kids and teachers at school give me a 'way' when i take my son to school and when i bought the school two new fans for the class room to my astonishment all the kids and teachers lined up in the play ground to officially thank me, give me the boonies any day.

[newnative]

Supermarket staff in England don't need to know German or French or Italian or Spanish or Dutch or Swedish or Norwegian or whatever and it's ridiculous to expect them to. And, no need to because most Europeans can speak English. I've never met anyone from Europe who doesn't speak at least enough English to get by--most seem to be fluent. The same with Russians, which surprised me. All I meet can scrape by in English. English is the universal language and if Thailand wants to compete and not be left behind it should be taught much better in Thai schools and given more importance.