Sky News : Tesco will guarantee itself an unwanted place in UK corporate history on Wednesday when it unveils an annual loss of well over £5bn, one of the biggest ever reported by a British company.

 

Sky News has learnt that the UK's biggest retailer will announce that statutory pre-tax losses were significantly above £5bn - a figure which represents the most pessimistic of market expectations.

 

 

Cant say I didnt see it coming.

 

 

Wow, I know they were lying about their profits and cooking the books but seriously, £5 billion?!?! Going to america really did fuck them. Is it a case that they saturated the market too quickly?

Wow, I know they were lying about their profits and cooking the books but seriously, £5 billion?!?! Going to america really did fuck them. Is it a case that they saturated the market too quickly?

 

I think a combination of trying to break America and failing to recognize people needs has been their downfall. The cock up of overstated profits was also a sign that things weren't rosy. 5bn though... that is serious sheckles. I was always a fan of Tesco, but when i started shopping elsewhere i realised how much cheaper food was and how much the quality improved also. I can honestly say i save £30-40 per week shopping elsewhere now. They dominated the market and took everything for granted.  They get what they deserve, though no doubt the big bosses will be 'rewarded' with huge bonuses/payoffs and great pensions, while normal employees will be left with nothing.

I think a combination of trying to break America and failing to recognize people needs has been their downfall. The cock up of overstated profits was also a sign that things weren't rosy. 5bn though... that is serious sheckles. I was always a fan of Tesco, but when i started shopping elsewhere i realised how much cheaper food was and how much the quality improved also. I can honestly say i save £30-40 per week shopping elsewhere now. They dominated the market and took everything for granted.  They get what they deserve, though no doubt the big bosses will be 'rewarded' with huge bonuses/payoffs and great pensions, while normal employees will be left with nothing.

 

I used to be the same, but then Sainsbury's upped their game and I preferred going there. Not sure what it was but they gave off the air that their produce was superior to that of tescos. Then the budget supermarkets ala lidl and aldi came along and took their cheap tag away from them too. Down here in London, there are far too many shitty little tesco and sainsburys stores though. Do my head in. Expensive and understandably limited in their supply.

Their policy of buying land left right and centre to stop their rivals from building close to them should have been investigated by the office of fair trade and the UK Planning offices years ago. Said land could have been used for  many other things but Tesco just held onto it stopping potential commercial, industrial and residential developments in so many towns and cities - The Tesco town phenomenon.

In several cases they aggressively evicted/ compulsory purchased away shafting lots of small businesses and residents

 

Personally the only time I shop in tescos is in inverness and that is basically because that's about all there is.

If they go bust I know at least one company who will be rubbing their hands with glee when the Metro stores start shutting down.

 

 

 

Their policy of buying land left right and centre to stop their rivals from building close to them should have been investigated by the office of fair trade and the UK Planning offices years ago. Said land could have been used for  many other things but Tesco just held onto it stopping potential commercial, industrial and residential developments in so many towns and cities - The Tesco town phenomenon.

In several cases they aggressively evicted/ compulsory purchased away shafting lots of small businesses and residents

 

Personally the only time I shop in tescos is in inverness and that is basically because that's about all there is.

If they go bust I know at least one company who will be rubbing their hands with glee when the Metro stores start shutting down.

 

There's a nice big Asda 5 minutes away along the dualler. 

 

I didn't even know Tesco had stores in America? Never seen or heard of a Tesco in America.

Not seen one near here, but I think many were called Fresh and Easy, not Tesco.

Not seen one near here, but I think many were called Fresh and Easy, not Tesco.

 

 

Oh aye. There were a heap of them supposedly closing their doors. 30 stores just within California rings a bell.

 

Oh aye. There were a heap of them supposedly closing their doors. 30 stores just within California rings a bell.

 

Aye min, Fresh and Easy min. Although Tesco sold them a year or two back, now owned by somebody else...

The problem with Fresh and Easy was that there were no WANs.