| Tesco £2.3BILLION Profit on 13:17 - Apr 10 with 822 views | Nthsuffolkblue |
| Tesco £2.3BILLION Profit on 12:08 - Apr 10 by SuperKieranMcKenna |
They also claim to have 80m shopping trips in their stores per week, which would equate a whopping 56p profit per trip…. |
That's scandalous! I bought something there for 99 p the other day. Are you telling me made over 56% profit on that transaction. That means when I spend £100 there, £56 of it is going straight into their CEO's pocket!
Of course, the truth is that all private companies need to make a profit and if, over a prolonged period, they fail to do so they will not last as a business with all the consequences that entails. As has been pointed out, the level of profit here is far from ridiculous. They are clearly a very well run business and the monopolies legislation has worked well to ensure they have not cornered the market to prevent consumer choice.
It is easy to look at figures like £2.3bn and not to realise the scale and therefore context of them. |  |
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| Tesco £2.3BILLION Profit on 13:20 - Apr 10 with 817 views | soupytwist |
| Tesco £2.3BILLION Profit on 13:06 - Apr 10 by The_Flashing_Smile |
I probably worded that badly, but what I mean is a big British company doing well is good for the economy (and their suppliers). Is their any evidence they treat their suppliers badly (or any worse than any other supermarket)? |
They're probably not significantly worse than other supermarkets (if at all). I wasn't accusing them of being so although it wasn't clear from my post. However, Jay Rayner in the X/Twitter thread I linked to earlier covers the whole supermarket sector and its treatment of suppliers, of which Tesco is the largest player.
Not all supermarkets are currently profitable but not all have the same business maturity as Tesco, in this country at least. A better deal for producers at the expense of *some* supermarket profits could have a more beneficial effect overall. |  | | |
| Tesco £2.3BILLION Profit on 13:22 - Apr 10 with 808 views | The_Flashing_Smile |
| Tesco £2.3BILLION Profit on 13:17 - Apr 10 by Nthsuffolkblue |
That's scandalous! I bought something there for 99 p the other day. Are you telling me made over 56% profit on that transaction. That means when I spend £100 there, £56 of it is going straight into their CEO's pocket!
Of course, the truth is that all private companies need to make a profit and if, over a prolonged period, they fail to do so they will not last as a business with all the consequences that entails. As has been pointed out, the level of profit here is far from ridiculous. They are clearly a very well run business and the monopolies legislation has worked well to ensure they have not cornered the market to prevent consumer choice.
It is easy to look at figures like £2.3bn and not to realise the scale and therefore context of them. |
Tesco started off as a market stall, the two original guys being T.E.Stockwell and Jack Cohen. It's actually a Great British success story. We like success... but not that much! |  |
| Trust the process. Trust Phil. |
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| Tesco £2.3BILLION Profit on 13:23 - Apr 10 with 801 views | TractorWood |
| Tesco £2.3BILLION Profit on 12:57 - Apr 10 by Herbivore |
Who has complained about the cost of food at Tesco? You seem to be missing the point, which is that at a time when people are in food poverty it is rather shocking seeing a supplier of food making over £2bn in profit. As I said elsewhere, Tesco are the symptom of a broken system and that is why people are outraged. I know you bloody love capitalism, mate, but some of us look at the state of things and question whether maybe there's a better way than keeping most people at or below subsistence levels of income whilst a small minority cream off a huge chunk of wealth from the rest. |
4 days of NHS budget for context.
I agree it's a lot but it's an industry of scale and operating leverage. Will always have 3/4 big players making lots of money due to high barriers of entry.
Defence and oil is where the misery is IMHO. |  |
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| Tesco £2.3BILLION Profit on 13:23 - Apr 10 with 800 views | SuperKieranMcKenna |
| Tesco £2.3BILLION Profit on 12:57 - Apr 10 by Herbivore |
Who has complained about the cost of food at Tesco? You seem to be missing the point, which is that at a time when people are in food poverty it is rather shocking seeing a supplier of food making over £2bn in profit. As I said elsewhere, Tesco are the symptom of a broken system and that is why people are outraged. I know you bloody love capitalism, mate, but some of us look at the state of things and question whether maybe there's a better way than keeping most people at or below subsistence levels of income whilst a small minority cream off a huge chunk of wealth from the rest. |
We are one of the richest nations on earth per capita. Please show me any metric that has ‘most people below or at subsistence levels’ for the UK. Who pays for public services whereby the private sector aren’t contributing taxable profit.
It’s just student politics stuff. Can we do better on poverty - of course we can. Are other European nations leading us on income inequality- yup. But none of that is going to change without a better political system (i.e PR). None of which has anything to do with Tesco price gouging us for 50p every time we go in there. |  | | |
| Tesco £2.3BILLION Profit on 13:34 - Apr 10 with 769 views | Kropotkin123 |
| Tesco £2.3BILLION Profit on 10:30 - Apr 10 by SitfcB |
Shoplifting should be encouraged at places like this. |
It's baked into their profits. So all it means is those stealing are just not spending at rival places. It doesn't harm them. |  |
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| Tesco £2.3BILLION Profit on 14:01 - Apr 10 with 730 views | leitrimblue |
| Tesco £2.3BILLION Profit on 13:34 - Apr 10 by Kropotkin123 |
It's baked into their profits. So all it means is those stealing are just not spending at rival places. It doesn't harm them. |
Yer, but you do get free stuff.. |  | | |
| Tesco £2.3BILLION Profit on 14:05 - Apr 10 with 717 views | bazza |
| Tesco £2.3BILLION Profit on 13:34 - Apr 10 by Kropotkin123 |
It's baked into their profits. So all it means is those stealing are just not spending at rival places. It doesn't harm them. |
Add to that, most shoplifters now days are dangerous, and in some cases drug addicts, who attack the staff, it’s probably not wise to encourage shoplifting . |  | | |
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| Tesco £2.3BILLION Profit on 14:40 - Apr 10 with 685 views | Zapers |
| Tesco £2.3BILLION Profit on 11:17 - Apr 10 by SuperKieranMcKenna |
Well said mate - there is no poverty outside the capitalist West. |
Down voted by the fool that doesn’t have a clue what he’s talking about | | | |
| Tesco £2.3BILLION Profit on 15:21 - Apr 10 with 634 views | chicoazul |
| Tesco £2.3BILLION Profit on 12:28 - Apr 10 by Herbivore |
Who has said it's a Tesco issue? It's a systemic one. Tesco are a symptom, not the cause. |
But why is it a legitimate source of outrage? Companies need to make money and yours and my pension funds are almost certainly bought into Tesco. It seems that OP thinks big profits are bad in themselves? I do take your point about a small number of companies but the specific market Tesco operate in is quite mature with several options for consumers, certainly more than for eg broadband or utilities. |  |
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| Tesco £2.3BILLION Profit on 15:30 - Apr 10 with 616 views | leitrimblue |
| Tesco £2.3BILLION Profit on 14:40 - Apr 10 by Zapers |
Down voted by the fool that doesn’t have a clue what he’s talking about |
Is the kinda thing someone with zero self awareness might post  | | | |
| Tesco £2.3BILLION Profit on 16:09 - Apr 10 with 567 views | Zapers |
| Tesco £2.3BILLION Profit on 15:30 - Apr 10 by leitrimblue |
Is the kinda thing someone with zero self awareness might post |
Perhaps you could explain why you think i have zero self awareness?
Clearly, and respectfully, neither you or Herb have a clue on how to run a business.
Herb talks about 11% increase in profits. This is clearly misleading.
I admit i didn't check Tesco's profits, however a 3.8% gross profit is marginal, on any business.
11% increase in profits amounts to very little in real terms, because the gross margins were low to start with.
Never seen a company survive that doesn't make money, unless its run by the likes of you and herb, then it would clearly be a disaster! | | | |
| Tesco £2.3BILLION Profit on 16:44 - Apr 10 with 520 views | NeedhamChris |
| Tesco £2.3BILLION Profit on 12:07 - Apr 10 by Herbivore |
Labour won't be doing anything about Tesco's making billions of profit either, mate. |
You never know, they might celebrate a success story.
There's some work to be done to ensure food producers are looked after, but the cost-of-living crisis elements here are being blown up because of the size, but with no attention to the scale. | |
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| Tesco £2.3BILLION Profit on 16:45 - Apr 10 with 515 views | PhilTWTD |
| Tesco £2.3BILLION Profit on 13:22 - Apr 10 by The_Flashing_Smile |
Tesco started off as a market stall, the two original guys being T.E.Stockwell and Jack Cohen. It's actually a Great British success story. We like success... but not that much! |
Stockwell, you say... |  | | |
| Tesco £2.3BILLION Profit on 16:48 - Apr 10 with 507 views | NeedhamChris |
| Tesco £2.3BILLION Profit on 12:04 - Apr 10 by GlasgowBlue |
Would you prefer they made a loss and started laying off staff? There are other supermarkets available. |
These are pre-tax profits, so seeing these go up is a good thing for public finances.
There's an interesting correlation between those who (rightfully in my view) talk about the need to increase state support in many areas - and those who seemingly would like to see less profit and therefore a lower tax take - reducing the ability to fund said increases. | |
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| Tesco £2.3BILLION Profit on 16:50 - Apr 10 with 494 views | leitrimblue |
| Tesco £2.3BILLION Profit on 16:09 - Apr 10 by Zapers |
Perhaps you could explain why you think i have zero self awareness?
Clearly, and respectfully, neither you or Herb have a clue on how to run a business.
Herb talks about 11% increase in profits. This is clearly misleading.
I admit i didn't check Tesco's profits, however a 3.8% gross profit is marginal, on any business.
11% increase in profits amounts to very little in real terms, because the gross margins were low to start with.
Never seen a company survive that doesn't make money, unless its run by the likes of you and herb, then it would clearly be a disaster! |
I would suggest calling strangers fools and suggesting that they don't know what they are talking about without any idea of their background doesn't really suggest an enormous amount of self awareness.
On your comment about me or Herbs ( or anyone else) not having a clue how to run a business, again doesn't really show you in your best light.
I would suggest that if you can p1ss you can probably run a business. It's hardly feck1n rocket science and there is lots of help out there for anyone willing to give it a lash.
I for one am living the Thatcherite/Tory dream of the working class boy made good and my business is doing exceptionally well ( and is a long way from being a disaster) thanks
.
One day I hope to be as successful as yerself | | | |
| Tesco £2.3BILLION Profit on 17:07 - Apr 10 with 453 views | Zapers |
| Tesco £2.3BILLION Profit on 16:50 - Apr 10 by leitrimblue |
I would suggest calling strangers fools and suggesting that they don't know what they are talking about without any idea of their background doesn't really suggest an enormous amount of self awareness.
On your comment about me or Herbs ( or anyone else) not having a clue how to run a business, again doesn't really show you in your best light.
I would suggest that if you can p1ss you can probably run a business. It's hardly feck1n rocket science and there is lots of help out there for anyone willing to give it a lash.
I for one am living the Thatcherite/Tory dream of the working class boy made good and my business is doing exceptionally well ( and is a long way from being a disaster) thanks
.
One day I hope to be as successful as yerself |
You can live in hope🤣 | | | |
| Tesco £2.3BILLION Profit on 17:11 - Apr 10 with 444 views | leitrimblue |
| Tesco £2.3BILLION Profit on 17:07 - Apr 10 by Zapers |
You can live in hope🤣 |
If you ever wanna sell yer hot dog van perhaps you could give me the first shout?  | | | |
| Tesco £2.3BILLION Profit on 17:22 - Apr 10 with 429 views | Zapers |
| Tesco £2.3BILLION Profit on 17:11 - Apr 10 by leitrimblue |
If you ever wanna sell yer hot dog van perhaps you could give me the first shout? |
Enjoy the match tonight, let's hope we go back on top, where we belong;)
Don't choke on yer hot dog, there's a good fella | | | |
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