Tesco

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Off topic but a friend of a friend just traded his East Coast points in for Nectar and now has £650 on his Nectar card :confused:

Ooh I didn't know you could do that. I'm going to look into my points when I get home. I like nectar points as I can spend them in Homebase :D
 


Shop there every week and I'm paid up until September 2016 on delivery saver, they better not go bankrupt. ;)

Am I the only one that's pro-Tesco? The food is decent, my kids love their Hudl 2's and the discounts on Tesco Direct are good.

I'm pro tesco, I prefer Lidl/Aldi but they don't deliver. It's great to get all the essentials delivered every week, then can top up at Lidl or wherever, whenever.
 
I think it is no coincidence that since Labour have gone out of Government, Tesco have progressively been painting a picture of being in a worse and worse position. I have worked at Tesco in a pretty lowly position, but in role that gave me quite regular contact with some of the most senior board members. I am pretty sure there was a gentleman's agreement between Tesco and the Labour Government that they would not come under the scrutiny of the monopolies commission while they were in power. This is the only explanation for the business model Tesco adopted between 2000 and around 2007, where they effectively saw off many large high street rivals, particularly in non-food goods.

I have seen folders showing rivals clothing products before they have hit the shelves and estimates on how long it will take them to produce cut price knock-offs. They were deliberately trying to scud the big sellers for their clothing rivals, and it worked and destroyed many long established brands. They adopted incredibly aggressive selling strategies, using uncompetitive practices such as selling non-food products below cost price just to put the opposition out of business, funded by their profits on food products. They destroyed the biggest book distributor in this country by forcing them to do business with them by hard selling the biggest sellers, but massively over ordering them. They would then return all the unsold units and demand they were pulped, and the distributor's cost. They then insisted that they have access to the stock control IT systems for the company so they could keep even closer tabs on what was happening. They tried something similar with their DVD and CD distributor. At one point they sent people unannounced to the distributor who turned up expecting to be given full access to their IT, although on that occasion they were sent on their way.

So with this in mind I do not quite believe the alleged dire straits that they are in. It serves them well to give the appearance of struggling. As has been mentioned, most of the loss is on a write down on their property values, which I expect will give them a massive level of tax relief. It will probably also devalue their share value, and I would not be suprised if they try to do a buy back of staff share options as a result, ready for them to make a load of money when the value rises again. They will also probably try and use it as an excuse to put pressure on suppliers to make their terms of business even more in Tesco's favour. It will go someway to legitimise the terrible conditions thy place on their suppliers and head off any litigation or legislation that may have forced them to act better.

There is nothing about the basic business model of Tesco that is broken or damaged. Everything works in their favour. It looks like they are ready to take a bath on a lot of different aspects of the business that have not been working, but there is by no means a shortage of cash flow, they are just making sure that their withdrawal is as profitable as possible. Soon they will have their 'rebirth', maybe even Sir Terry Leahy (a man who does not like to stop meetings for minor things such as going to the toilet, you just have to follow him in and keep saying "Yes Sir Terry") will come back for whatever PR they do for the theoretical 'turnaround'.
 
I think it is no coincidence that since Labour have gone out of Government, Tesco have progressively been painting a picture of being in a worse and worse position. I have worked at Tesco in a pretty lowly position, but in role that gave me quite regular contact with some of the most senior board members. I am pretty sure there was a gentleman's agreement between Tesco and the Labour Government that they would not come under the scrutiny of the monopolies commission while they were in power. This is the only explanation for the business model Tesco adopted between 2000 and around 2007, where they effectively saw off many large high street rivals, particularly in non-food goods.

I have seen folders showing rivals clothing products before they have hit the shelves and estimates on how long it will take them to produce cut price knock-offs. They were deliberately trying to scud the big sellers for their clothing rivals, and it worked and destroyed many long established brands. They adopted incredibly aggressive selling strategies, using uncompetitive practices such as selling non-food products below cost price just to put the opposition out of business, funded by their profits on food products. They destroyed the biggest book distributor in this country by forcing them to do business with them by hard selling the biggest sellers, but massively over ordering them. They would then return all the unsold units and demand they were pulped, and the distributor's cost. They then insisted that they have access to the stock control IT systems for the company so they could keep even closer tabs on what was happening. They tried something similar with their DVD and CD distributor. At one point they sent people unannounced to the distributor who turned up expecting to be given full access to their IT, although on that occasion they were sent on their way.

So with this in mind I do not quite believe the alleged dire straits that they are in. It serves them well to give the appearance of struggling. As has been mentioned, most of the loss is on a write down on their property values, which I expect will give them a massive level of tax relief. It will probably also devalue their share value, and I would not be suprised if they try to do a buy back of staff share options as a result, ready for them to make a load of money when the value rises again. They will also probably try and use it as an excuse to put pressure on suppliers to make their terms of business even more in Tesco's favour. It will go someway to legitimise the terrible conditions thy place on their suppliers and head off any litigation or legislation that may have forced them to act better.

There is nothing about the basic business model of Tesco that is broken or damaged. Everything works in their favour. It looks like they are ready to take a bath on a lot of different aspects of the business that have not been working, but there is by no means a shortage of cash flow, they are just making sure that their withdrawal is as profitable as possible. Soon they will have their 'rebirth', maybe even Sir Terry Leahy (a man who does not like to stop meetings for minor things such as going to the toilet, you just have to follow him in and keep saying "Yes Sir Terry") will come back for whatever PR they do for the theoretical 'turnaround'.
:eek: Tell us more.
 
I seem to get loads of Tesco Points. Last month they had a sale on where £1.25 in tesco points got you a pizza at pizza express (eat in). Ended up getting 8 lots of those.
 
A lot more to be closed as well.
Apparently young folk today don't go in for diy like their fathers did. That's the reason given for the closures and nothing to do with homebase prices obviously.
And shite stock in comparison to b and q and a lot of trade centers now open to the public
 
I think it is no coincidence that since Labour have gone out of Government, Tesco have progressively been painting a picture of being in a worse and worse position. I have worked at Tesco in a pretty lowly position, but in role that gave me quite regular contact with some of the most senior board members. I am pretty sure there was a gentleman's agreement between Tesco and the Labour Government that they would not come under the scrutiny of the monopolies commission while they were in power. This is the only explanation for the business model Tesco adopted between 2000 and around 2007, where they effectively saw off many large high street rivals, particularly in non-food goods.

I have seen folders showing rivals clothing products before they have hit the shelves and estimates on how long it will take them to produce cut price knock-offs. They were deliberately trying to scud the big sellers for their clothing rivals, and it worked and destroyed many long established brands. They adopted incredibly aggressive selling strategies, using uncompetitive practices such as selling non-food products below cost price just to put the opposition out of business, funded by their profits on food products. They destroyed the biggest book distributor in this country by forcing them to do business with them by hard selling the biggest sellers, but massively over ordering them. They would then return all the unsold units and demand they were pulped, and the distributor's cost. They then insisted that they have access to the stock control IT systems for the company so they could keep even closer tabs on what was happening. They tried something similar with their DVD and CD distributor. At one point they sent people unannounced to the distributor who turned up expecting to be given full access to their IT, although on that occasion they were sent on their way.

So with this in mind I do not quite believe the alleged dire straits that they are in. It serves them well to give the appearance of struggling. As has been mentioned, most of the loss is on a write down on their property values, which I expect will give them a massive level of tax relief. It will probably also devalue their share value, and I would not be suprised if they try to do a buy back of staff share options as a result, ready for them to make a load of money when the value rises again. They will also probably try and use it as an excuse to put pressure on suppliers to make their terms of business even more in Tesco's favour. It will go someway to legitimise the terrible conditions thy place on their suppliers and head off any litigation or legislation that may have forced them to act better.

There is nothing about the basic business model of Tesco that is broken or damaged. Everything works in their favour. It looks like they are ready to take a bath on a lot of different aspects of the business that have not been working, but there is by no means a shortage of cash flow, they are just making sure that their withdrawal is as profitable as possible. Soon they will have their 'rebirth', maybe even Sir Terry Leahy (a man who does not like to stop meetings for minor things such as going to the toilet, you just have to follow him in and keep saying "Yes Sir Terry") will come back for whatever PR they do for the theoretical 'turnaround'.
You saying they're making it up,despite being in hot water for miscalculating in the past?
 
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