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Tesco suspends Bosses over £250 million profit error

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Tesco suspends Bosses over £250 million profit error

Post  Panda on Mon 22 Sep - 10:10

http://news.sky.com/story/1339960/tesco-suspends-bosses-over-250m-profit-error

Tesco goes from bad to worse!!!

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Tesco shares fall , Auditors also failed to audit properly

Post  Panda on Mon 22 Sep - 18:46

http://www.bbc.co.uk/news/business-29306444

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Wed 24 Sep - 0:07

LETS HOPE THINGS ARE NOT TOO DIRE,THE KITTY IS HOPEFULLY NOT EMPTY.

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Re: Tesco suspends Bosses over £250 million profit error

Post  kitti on Wed 24 Sep - 7:29

Two problems with Tescos


1. You walk in there and there not very inviting...you don't think....oh that looks nice and edible , I'll go buy some off that, all you see especially in mine is the vegetable department which is mostly half empty and they are rank.


2. They haven't got the same type off offers as the the other stores..my tesco looks like it caters NOT for young families but a bad example off Waitrose who cater for the older person with a bit more money...it doesn't work for tesco.

Tesco didn't work in the USA, it tried and failed but it couldn't compete with Woolmart.....now they can't even compete with asda or morrisons and to me, it looks like they can't be bothered to try either.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Wed 24 Sep - 9:26

Yes kitti , they try to con Joe public with special offers which are not special at all. Knocking 20p off a sell buy date expired item is not going
to sell it. To top it all, it appears their Executive have not been truthful and their Auditors not doing a proper job , Will these Executives go to Prison??? I doubt it, it's the same as Bank Executives, one Law for the rich and one for the poor.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Wed 24 Sep - 9:45

http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11117098/Former-Tesco-boss-Philip-Clarke-facing-questions-over-accounting-scandal.html

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Re: Tesco suspends Bosses over £250 million profit error

Post  Guest on Wed 24 Sep - 10:27

It's difficult to know who, exactly, Tesco are targetting as their market. M&S have the same issues.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Wed 24 Sep - 10:38

I think their attempt to capture the U.S. Market failed , they invested too much in the U.K. with their "Tesco Extra shops", 24 hr opening etc, and whereas they were top dogs, other Supermarkets challenged their supremacy , now two German Companies have beaten all of them.!!!

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Re: Tesco suspends Bosses over £250 million profit error

Post  Angelina on Wed 24 Sep - 10:54

Panda wrote:I think their attempt to capture the U.S. Market failed , they invested too much in the U.K. with their "Tesco Extra shops", 24 hr opening etc, and whereas they were top dogs, other Supermarkets challenged their supremacy , now two German Companies have beaten all of them.!!!

I went in Lidl yesterday expecting to save on my weekly shopping bill....I ended up buying nothing. There were a few things that looked about 20p less than I might pay elsewhere but most of it was from producers I'd never heard of and I was unwilling to pay out to find if I liked it or not. Maybe I need to go to a bigger store, although not sure where there is one worth travelling to in my area, so at the moment I am mystified as to why they are deemed to be so good.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Wed 24 Sep - 14:13

Angelina wrote:
Panda wrote:I think their attempt to capture the U.S. Market failed , they invested too much in the U.K. with their "Tesco Extra shops", 24 hr opening etc, and whereas they were top dogs, other Supermarkets challenged their supremacy , now two German Companies have beaten all of them.!!!

I went in Lidl yesterday expecting to save on my weekly shopping bill....I ended up buying nothing.   There were a few things that looked about 20p less than I might pay elsewhere but most of it was from producers I'd never heard of and I was unwilling to pay out to find if I liked it or not.   Maybe I need to go to a bigger store, although not sure where there is one worth travelling to in my area, so at the moment I am mystified as to why they are deemed to be so good.
BECAUSE THEY ARE CHEAP,EVERYONE IS LOOKING FOR A BARGAIN IN THIS AUSTERE AGE.

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Re: Tesco suspends Bosses over £250 million profit error

Post  AnnaEsse on Wed 24 Sep - 14:45

Badboy wrote:
Angelina wrote:
Panda wrote:I think their attempt to capture the U.S. Market failed , they invested too much in the U.K. with their "Tesco Extra shops", 24 hr opening etc, and whereas they were top dogs, other Supermarkets challenged their supremacy , now two German Companies have beaten all of them.!!!

I went in Lidl yesterday expecting to save on my weekly shopping bill....I ended up buying nothing.   There were a few things that looked about 20p less than I might pay elsewhere but most of it was from producers I'd never heard of and I was unwilling to pay out to find if I liked it or not.   Maybe I need to go to a bigger store, although not sure where there is one worth travelling to in my area, so at the moment I am mystified as to why they are deemed to be so good.
BECAUSE THEY ARE CHEAP,EVERYONE IS LOOKING FOR A BARGAIN IN THIS AUSTERE AGE.

I think the best for cheap and good quality is Aldi. There's an Aldi just round the corner from my house, which is very useful in that I wouldn't do all my shopping there, but there are a few things I do buy there. Aldi has Manuka honey, for example, at £4.29, which is less than half the price of Tesco, Sainsbury's or any of the others. They also regularly have really good deals on organic fruit and vegetables.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Wed 24 Sep - 16:19

The fact that Aldi and Lidl are the top two , is as Badboy says, because they are no frills cheap Supermarkets , with quirky Ads
I posted on here a while go about the Founder of Aldi , a German , who now and again sells a more expensive line still cheaper than anyone else , which brings in more custom . Both Supermarkets are a bus ride from me so I tend to shop more in Iceland which is just up the road.

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Tesco made stratospheric error

Post  Panda on Thu 25 Sep - 9:59

http://www.bbc.co.uk/news/business-29357840

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Tesco troubles ..... Mike Ashley makes £43 million bet.

Post  Panda on Thu 25 Sep - 13:56

http://news.sky.com/story/1341921/tesco-troubles-mike-ashley-makes-43m-bet

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Thu 2 Oct - 14:57

TESCO MAY SELL OFF BLINKBOX BUSINESS.

MEANWHILE SAINSBURY HAVE SAID THEY ARE LOSING MONEY.
I SAW  IN GUARDIAN GRAPH OF TESCO,SAINSBURY AND MORRISON PROFITS,THERE ARE GOING DOWN,ONLY IN 4TH QUARTER DO THEY SEEM TO GO UP.
EVEN GOOD OLD WAITROSE ARE ISSUING PROFIT WARNINGS.
ONLY ALDI AND LIDL ARE MAKING PROFITS 36/65%.
AT THIS RATE BIG 3/4 MIGHT BE IN TROUBLE IN A FEW YEARS TIME.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Thu 2 Oct - 17:02

Badboy wrote:TESCO MAY SELL OFF BLINKBOX BUSINESS.

MEANWHILE SAINSBURY HAVE SAID THEY ARE LOSING MONEY.
I SAW  IN GUARDIAN GRAPH OF TESCO,SAINSBURY AND MORRISON PROFITS,THERE ARE GOING DOWN,ONLY IN 4TH QUARTER DO THEY SEEM TO GO UP.
EVEN GOOD OLD WAITROSE ARE ISSUING PROFIT WARNINGS.
ONLY ALDI AND LIDL ARE MAKING PROFITS 36/65%.
AT THIS RATE BIG 3/4 MIGHT BE IN TROUBLE IN A FEW YEARS TIME.

Hi Badboy, I think M&S, Waitrose, Tesco, Morrison and Sainsbury are all feeling the pinch and unless they change their tactics they will not regain the custom lost to Aldi and Lidl. These phony "buy one, get one free" offers will have to stop and the big Supermarkets will probably shut down some of their Branches.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Fri 3 Oct - 2:27

I HEARD FROM MY DISABILITY DRIVER THAT MAYBE WE WILL END UP WITH BUY ONE,GET SIX FREE.
IF THEY DO THAT,I WANT TO BE FIRST THROUGH THE DOORS.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Fri 3 Oct - 8:50

Badboy wrote:I HEARD FROM MY DISABILITY DRIVER THAT MAYBE WE WILL END UP WITH BUY ONE,GET SIX FREE.
IF THEY DO THAT,I WANT TO BE FIRST THROUGH THE DOORS.

It'll be a stampede Badboy , you will be trampled to death I can see a few Tesco Stores being closed down, Morrisons as well s the Co-op.What is so annoying is that it has taken two Germans to show us how it's done.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Fri 3 Oct - 9:07

http://www.hl.co.uk/news/articles/10-facts-investors-need-to-know-about-tesco-sainsburys-and-morrisons?utm_source=outbrain&utm_medium=content+dist&utm_

I must be psychic BADBOY.....just came across this while looking for something else.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Sat 4 Oct - 1:04

MORRISON'S GOING TO MATCH ADI AND LIDL ON PRICE

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Sat 4 Oct - 9:38

Tesco have just taken possession of a £50 million jet for the Board to use!!!!

Why does Britain tolerate the Business world , Banks, Stores , we are at their mercy yet the Government does nothing.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Sat 4 Oct - 23:24

Panda wrote:Tesco have just taken possession of a £50 million jet for the Board to use!!!!

Why does Britain tolerate the Business world , Banks, Stores , we are at their mercy yet the Government does nothing.
THEY ARE GOING TO SELL IT FOR £30MILLION,MANAGEMENT HAS NO IDEA OF PRIORITIES.
I SAW A LIST OF 10 ITEMS IN GUARDIAN,ALDI WAS CHEAPEST ON MOST ITEMS.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Sun 5 Oct - 9:14

Badboy wrote:
Panda wrote:Tesco have just taken possession of a £50 million jet for the Board to use!!!!

Why does Britain tolerate the Business world , Banks, Stores , we are at their mercy yet the Government does nothing.
THEY ARE GOING TO SELL IT FOR £30MILLION,MANAGEMENT HAS NO IDEA OF PRIORITIES.
I SAW A LIST OF 10 ITEMS IN GUARDIAN,ALDI WAS CHEAPEST ON MOST ITEMS.

It's obvious that the British Supermarkets are on the decline and there will be a sell off BadBoy.

I read ages ago about Tesco opening a new store up North when a Council member noticed Tesco had overshot the Plan by 20%. The Council said it need not be demolished but could not be used to sell...that served them right.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Badboy on Sun 5 Oct - 16:03

NOT SURE IF ALREADY MENTIONED,TESCO HAS HAD TO MOTHBALL SOME STORES THEY SPEND MILLIONS ON LIKE ONE IN CAMBRIDGESHIRE ETC.
MAYBE A BACK TO BASICS APPROACH MIGHT BE BETTER.
I WONDER WHERE THE SUPERMARKETS ARE GOING TO BE IN 10 YEARS TIME F THEY CONTUINE TO MAKE LOSSES.

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Re: Tesco suspends Bosses over £250 million profit error

Post  Panda on Sun 5 Oct - 16:54

Badboy wrote:NOT SURE IF ALREADY MENTIONED,TESCO HAS HAD TO MOTHBALL SOME STORES THEY SPEND MILLIONS ON LIKE ONE IN CAMBRIDGESHIRE ETC.
MAYBE A BACK TO BASICS APPROACH MIGHT BE BETTER.
I WONDER WHERE THE SUPERMARKETS ARE GOING TO BE IN 10 YEARS TIME F THEY CONTUINE TO MAKE LOSSES.

I think some Supermarkets will close and at the moment it looks like Tesco will lead the exit. The Supermarkets were blamed for decimating
town Centres but hopefully these will benefit . It is the Parking that attracts the out of town shoppers and Cities have very little facility for cars , we shall see.

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Re: Tesco suspends Bosses over £250 million profit error

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