Tesco suspends Bosses over £250 million profit error

Hello Anna I think that Aldi and Lidl are hurting the big supermarkets very much. I shop at Lidl, I only go to the large supermarkets for things I can't get there. We also have a BM in our local city, I don't know if they have shops all over the UK but they are so cheap. Cleaning materials and toiletries half the price of the big supermarkets, plus lots of other stuff. We try to shop around when we can. I think most people do if they have the time! I do buy plants from Aldi they are good

fuzeta wrote:Hello Anna I think that Aldi and Lidl are hurting the big supermarkets very much.  I shop at Lidl, I only go to the large supermarkets for things I can't get there.  We also have a BM in our local city, I don't know if they have shops all over the UK but they are so cheap.  Cleaning materials and toiletries half the price of the big supermarkets, plus lots of other stuff.  We try to shop around when we can.  I think most people do if they have the time!  I do buy plants from Aldi they are good

I buy quite a lot from Aldi too. They have Manuka honey at £4.29 and the same size jar in Boots is an unbelievable £17.99! Also, Aldi's chocolate and various other items that are much cheaper than anywhere else. My children's wicked step-mother (actually she's lovely!) used to insist on shopping only at Waitrose, but she's a convert to Aldi!

Well I converted to Lidl because whenever we were in Portugal, we used to shop there, as it was near to us. We decided we liked a lot of the stuff, not all, but enough. We have a local Waitrose and I sometimes go to see if there are any bargains, surprisingly there is a lot of the time. I could not afford a main shop there though. I must say it is a nice experience shopping there and the food is definitely a cut above. It would be nice to shop there all the time if one could afford it.

fuzeta wrote:Well I converted to Lidl because whenever we were in Portugal, we used to shop there, as it was near to us.  We decided we liked a lot of the stuff, not all, but enough.   We have a local Waitrose and I sometimes go to see if there are any bargains, surprisingly there is a lot of the time. I could not afford a main shop there though.   I must say  it is a nice experience shopping there and the food is definitely  a cut above.  It would be nice to shop there all the time if one could afford it.

There is a Waitrose in the small town about 7 miles from here. I tend to pop in when I'm working in that town just to see what they've got on offer that I would use anyway. I bought a brand of organic ice cream on my most recent visit that was half price. It amazes me when I see people at Waitrose with trolleys crammed full of stuff. I agree, a lot of the food is definitely a cut above and I'd shop there all the time if I could afford it.

ISN'T WAITROSE MATCHING TESCO'S PRICES?
DEFINATELY AGREED THAT THEIR FOOD IS SUPPOSED TO BE OF HIGHER QUALITY.
HAVE I TOLD YOU THAT IN MY TOWN THERE SEEMS TO BE 1 SHOP FOR EVERY 100 PERSONS SELLING SOMETHING TO EAT OR DRINK,EVEN HMV ARE SELLING DRINKS,YOU HAVE TO INCLUDE RESTAURANTS AND BARS AS WELL IN THE TOTAL,SO MUCH COPETITION SOME MUST GO UNDER.

Waitrose 'price match' Tesco's on 1000 branded products not including promotions.They are going to increase that number.
In other words they dont 'price match' Teso's 'own'nor special offer promotions.

I have my local Waitrose and almost right next door a Tesco convenience store.I have a 'My Waitrose' card and keep getting sent special offers and money off vouchers.

Waitrose has better quality food and generally more expensive.We also have a 'factory' shop (like a pound shop) further down the road that does cheap cleaning products sweets and chocolate.

Between those three we are spoilt for choice.I get most my food from Waitrose and wait for their offers on wine and beer or go to Tesco's for that.
If i can be bothered to walk further down i'll get the cleaning stuff cheap from the factory shop.

There are offers and vouchers all over if you have the time and wits about you apart from that there is a growth in 'farm shops' some attached to the garden centres where the produce is much better and fresh but probably more expensive.

Always go to the back of the shelf for the best dates.

TESCO'S HAS CLOSED 3 TIMES AS MANY STORES AS OTHER SUPERMARKET,LOSING 2,000 JOBS IN PROCESS.
THEY HAVE TO PAY £9MILLION TO A SOMERSET COUNCIL BECAUSE THEY CLOSED A PLANNED STORE.

SAW ARTICLE IN GUARDIAN TODAY,ALL SUPERMARKETS EXCEPT SAINSBURY'S ALDI,LIDL AND WAITROSE LOSING SALES/MARKET SHARE.

TESCO'S HAVE ANNOUNCED 55% DROP IN PROFITS,HOW THE MIGHTY HAVE FALLEN!
ON MY LAST TWO SHOPS I HAVE ACTUALLY SAVED MONEY COMPARED TO SHOPPING ELSEWHERE.

Badboy wrote:SAW ARTICLE IN GUARDIAN TODAY,ALL SUPERMARKETS EXCEPT SAINSBURY'S ALDI,LIDL AND  WAITROSE LOSING SALES/MARKET SHARE.

Those are the supermarkets that I shop with. Waitrose when I'm in the vicinity and usually the other three which are all within walking distance of my house. There's also Morrison close by, but that's not worth the trouble.

MORE POTENTIAL PROBLEMS FOR THE SUPERMARKETS,AMAZON IS DELIVERING/SELLING FOOD COSTING LESS THAN THE SUPERMARKETS.

ALDI AND LIDL HAVE 9.9% OF SUPERMARKET MARKET,WHERAS ASDA HAS SENA BIT OFA DROP IN MARKET SHARE AND HAVE LOST MANY SALES.
TESCO LAST WEEK INTRODUCTED A NEW SYSTEM OF DISCOUNTS AT THE TILLS INSTEAD OF ISSUEING VOUCHERS FOR NEXT WEEK'S SHOPPING.

fuzeta wrote:Well I converted to Lidl because whenever we were in Portugal, we used to shop there, as it was near to us.  We decided we liked a lot of the stuff, not all, but enough.   We have a local Waitrose and I sometimes go to see if there are any bargains, surprisingly there is a lot of the time. I could not afford a main shop there though.   I must say  it is a nice experience shopping there and the food is definitely  a cut above.  It would be nice to shop there all the time if one could afford it.

TALKING ABOUT WAITROSE,I READ AN ARTICLE IN TODAY'S GUARDIAN SAYING WAITROSE MAY HAVE MOST BARGAINS WITH MOST UNDER 50P!
HE ONCE LEFT HIS TROLLEY FILLED TO THE BRIM UNATTENDED AND TWO PEOPLE THOUGHT THE TROLLEY WAS FILLED WITH BARGAINS THEY COULD TAKE AWAY!
DON'T ALL RUSH THROUGHT WAITROSE'S DOORS AT ONCE!

WAITROSE HAS INCREASE THEIR MARKET SHARE FOR THE LAST 91 QUATERS.
TESCO IS FACING A LEGAL CHALLENGE OVER RESTRICTIVE COVENANTS.

SELF SERVICE TILLS HAVE RESULTED IN SUPERMARKETS LOSING £486BILLION A YEAR BECAUSE CUSTOMERS CAN'T FINISH TRANSACTIONS ETC.

Badboy wrote:SELF SERVICE TILLS HAVE RESULTED IN SUPERMARKETS LOSING £486BILLION A YEAR BECAUSE CUSTOMERS CAN'T FINISH TRANSACTIONS ETC.

I think those figures a little unlikely !

I HEAR FROM MY CARER ,THINK HE HEARD IT ON TV THAT SUPERMARKETS LIKE TESCO ARE ONLY MAKING 1P PROFIT PER £100 BECAUSE OF OVERHEADS.

ASDA HAS REPORTED A FALL IN PROFITS,COMPETITIONS FROM THE 3 OTHERS PLUS ALDI AND LIDL.
ALDI AND LIDL ONLY SELL 2,000 PRODUCTS.

AMAZON FRESH HAS LAUNCHED IN CENTRAL LONDON,MAY OR MAY NOT IMPACT OTHER SUPERMARKETS.
ONE PROBLEM IS THAT DELIVERED FOOD MAY NOT BE FRESH.

I AM WATCHING RIP OFF BRITAIN SAYING THAT A LOT PACKAGING HIDES SMALL AMOUNT OF ITEMS INSIDE EG HALF THE PACKAGING.

Three former Tesco executives charged with fraud over multi-million 'black hole'


Three former Tesco executives have been charged with fraud and false accounting over a multi-million black hole found in the supermarket's accounts two years ago.

The chain's former UK managing director Christopher Bush has been charged together with former UK finance director Carl Rogberg and the ex-food commercial director John Scouler, the serious fraud office announced.

Each of them faces one charge of fraud by Abuse of Position and one count of false accounting contrary, the SFO said.

It added that the investigation into Tesco PLC remains ongoing.

It comes after Tesco announced in 2014 that it had discovered a £250 black hole linked to a "problem with its accounts".

A total of five senior members of staff were asked to step aside following the shock announcement.

Tesco said in a statement that it has since embarked on an "extensive period of change" following the scandal.

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We note the decision of the SFO to bring a prosecution against former colleagues in relation to historic issues and acknowledge the investigation into the company is ongoing.


Tesco continues to cooperate with the SFO's investigation. > The last two years have seen an extensive programme of change at Tesco, but given this is an ongoing legal matter, we are unable to provide any further comment at this time.

– Tesco statement


Last week, Tesco's former chief financial officer Laurie Mcilwee was cleared by the accountancy watchdog, the Financial Reporting Council (FRC), over his role in the scandal.

Mr Mcilwee resigned as chief financial officer of Britain's biggest supermarket in April 2014, and the FRC said it had ended the investigation because there was "no realistic prospect" that a tribunal would make an adverse finding in relation to his conduct.

Last updated Fri 9 Sep 2016

http://www.itv.com/news/2016-09-09/three-charged-with-fraud-over-black-hole-tesco-profits/

READ ABOUT IT IN GUARDIAN.
I READ THAT TESCO IS DOING BETTER THAN LAST YEAR THEREAS ASDA SALES HAVE FALLEN 7.5% THIS QUARTER? DUE TO COMPETITION FROM ALDI AND LIDL AS WELL AS SMALLER SHOPS PROBABLY NISA,SPAR AND BUDGEN DOING BETTER ETC ETC.
THERE ARE SAID TO BE LESS SPENDING IN SPERMARKETS IN GENERAL AFFECTING THE SECTOR.

ALDI MIGHT PURGE INTO RED KEEPING ITS PRICES LOW.
THEY ARE SAYING PEOPLE ARE SPENDING LESS ON GROCERIES,HENCE LESS PROFITS FOR SUPERMARKETS.
MY LOCAL WAITROSE HAS FEW SHOPPERS WHERAS JOHN LEWIS IS DOING ALRIGHT.

I SAW ON WATCHDOG THAT ASDA WAS DELIVERING FOOD IN QUAKES(SP?) WHERE THEY HAD MOULD ON THEM ETC ETC.
DISGUSTING,ASDA DRIVERS DIDN'T HAD TIME TO HOSE AND CLEAN THEIR VEHICLES SO THEY GOT DIRTY.
YOU DON'T KNOW THERE THE FOOD HAS BEEN.
I THINK I STICK TO BUYING IN A SUPERMARKET!

TESCO PROFITS HAVE FALLEN AGAIN,METHINKS.
MORRISONS,ALDI AND LIDL HAD A GOOD CHRISTMAS.