I hope not, we shop there, it's my favourite place to food shop
I used to but now use Asda and Sainsburys and Morrisons. 12 months ago the local 24 superstore was always packed with people. There is now a noticable difference whenever i venture in there. Treat customers like crap and they go elsewhere
They're hardly in trouble and are far from going bust. They've written money off, hence the paper loss.
Their sales are improving of late.
Tesco's debt and liabilities are high, they already have £7.5bn debt and these write downs will be added to it. A credit rating downgrade could mean that large investors are not allowed to invest as major investors are banned from taking out any new investment in junk grade companies that have more liabilities than assets.
Things are critical, if it were a ship the sirens are sounding and there's water gushing into the hull, this year will be touch and go as to whether it can be saved.
Don't get excited, it's mainly an accounting trick after revaluing their property assets after a new chief executive came in or something. They just cleared out the cupboards and blamed it on the old guy so that for the coming quarters they can keep posting PROFITS OMG
Don't get excited, it's mainly an accounting trick after revaluing their property assets after a new chief executive came in or something. They just cleared out the cupboards and blamed it on the old guy so that for the coming quarters they can keep posting PROFITS OMG
thats a bit like saying italy or greece is ok because it runs a primary surplus
tesco embarked on a huge expansion based on cheap debt
thats a bit like saying italy or greece is ok because it runs a primary surplus
tesco embarked on a huge expansion based on cheap debt
the problem is the market changed
they are in big trouble
they will prob be taken over
Tesco will not be taken over by anyone, they will are not in big trouble, they own that much land that they brought over the years but never built on. But you dont do a mass sale of it you despose of it slowly that way you keep the value up. All super markets have been doing this for years.
I like Tesco. I live in a rural area and we don't have anywhere else to shop apart from a very small Budgens (which is hopeless and expensive). I have bought no end of stuff from Tesco including my TV and bed online as well as my weekly shopping. I collect the points and then triple them for meals out.
My only quibble is their meat which isn't very good quality and I now buy meat from the butchers.
I like Tesco. I live in a rural area and we don't have anywhere else to shop apart from a very small Budgens (which is hopeless and expensive). I have bought no end of stuff from Tesco including my TV and bed online as well as my weekly shopping. I collect the points and then triple them for meals out.
My only quibble is their meat which isn't very good quality and I now buy meat from the butchers.
I hope they don't get taken over.
Dont worry, they wont. As a few people have mentioned the loss was created by a one off write off. They have not had a good year and they acknowledge that the market will remain difficult however this was an opportunity for them to clear out anything remotely iffy on their balance sheet all in one bad news day. Underlying trading, whilst down is still ok and they have put a recovery plan in place.
The markets reaction made little impact on their share price.
That's because the market understands what Tesco is doing.
They should stop trying to open stores where they are not wanted.
there was a loud campaign against here [in this village], a petition went round, there were meetings all up and down and campaigners were up in arms about the safety of the children.
at one point someone posted posters of the bristol [?] protest when things were set fire to [?] as though in some kind of threat :D:D:D.
about 10% of villagers supported the it`d be ok if it were a waitrose brigade, tesco eventually opened and i can guarantee they all shop in it now.
All of the major supermarkets are in trouble to some degree. The exceptions are the German discounters and Waitrose which has done surprisingly well despite the recession.
I steered cleared of Tesco for many years until, what was a local DIY store shut down and became a Tesco albeit not the biggest around.
I find them very good for vegetables and a are far better than the massive Sainsburys in Otford, near Sevenoaks in that respect alnone. They sell packets of mixed Broccoli and Cauliflower that look much healthier in appearance and more generous in size than the manky looking packs in JS. I really don't know why Sainsburys are so bad in this respect.
Comments
Too. Too. Too. Too. Too.
Too. Grrrr.
I used to but now use Asda and Sainsburys and Morrisons. 12 months ago the local 24 superstore was always packed with people. There is now a noticable difference whenever i venture in there. Treat customers like crap and they go elsewhere
Tesco's debt and liabilities are high, they already have £7.5bn debt and these write downs will be added to it. A credit rating downgrade could mean that large investors are not allowed to invest as major investors are banned from taking out any new investment in junk grade companies that have more liabilities than assets.
Things are critical, if it were a ship the sirens are sounding and there's water gushing into the hull, this year will be touch and go as to whether it can be saved.
thats a bit like saying italy or greece is ok because it runs a primary surplus
tesco embarked on a huge expansion based on cheap debt
the problem is the market changed
they are in big trouble
they will prob be taken over
Do you suffer a loss when your house price changes - no - Its an accounting trick - they are sound and I believe will be a good share investment.
Tesco will not be taken over by anyone, they will are not in big trouble, they own that much land that they brought over the years but never built on. But you dont do a mass sale of it you despose of it slowly that way you keep the value up. All super markets have been doing this for years.
My only quibble is their meat which isn't very good quality and I now buy meat from the butchers.
I hope they don't get taken over.
Because they don't find it rubbish, obv.
Do you know how long it takes to count to £1 billion at one number per second?
Dont worry, they wont. As a few people have mentioned the loss was created by a one off write off. They have not had a good year and they acknowledge that the market will remain difficult however this was an opportunity for them to clear out anything remotely iffy on their balance sheet all in one bad news day. Underlying trading, whilst down is still ok and they have put a recovery plan in place.
The markets reaction made little impact on their share price.
That's because the market understands what Tesco is doing.
Because it's not rubbish? I've found Aldi products equal or better than Tesco, especially the meat.
But each to their own.
1 billion seconds at a guess.
there was a loud campaign against here [in this village], a petition went round, there were meetings all up and down and campaigners were up in arms about the safety of the children.
at one point someone posted posters of the bristol [?] protest when things were set fire to [?] as though in some kind of threat
about 10% of villagers supported the it`d be ok if it were a waitrose brigade, tesco eventually opened and i can guarantee they all shop in it now.
In fact most stuff you'll find there pisses over the competition.
I find them very good for vegetables and a are far better than the massive Sainsburys in Otford, near Sevenoaks in that respect alnone. They sell packets of mixed Broccoli and Cauliflower that look much healthier in appearance and more generous in size than the manky looking packs in JS. I really don't know why Sainsburys are so bad in this respect.
Nearly 32 years actually.