Tesco profits down

[Ryoko]

So apparently Tesco has had a profit drop and the news is blaming it on us tightening our belts in this time of woe.

Really? well I'm sure I've contributed to the drop but thats because Tesco have been pricing people out for about 2 years now with price increases far above the other shops and their offers are blatantly bogus, jacking up the prices of things before or during an offer is normal for them, no such thing as an offer in Tesco, prices are all ways jacked up for a single item during a BOGOF.

Goes to show I'm far from being the only one to notice this and take my shopping list elsewhere, they need to stop treating the customers like fools.

Ha ha, do Tesco management think that they deserve sympathy??

I switched to Sainsburys ages ago.

The clubcard reduction in points bugged me as did the dodgy offers as mentioned in the op and also the way they purposely never have their Basics range in stock(come on we're not daft) and mislabeling which I've complained about twice.

I buy Sainsburys Basics for everything as far better quality than Tescos/Asda Basics,rather crucially they always have good stock levels too. I save a bloody fortune.My bills have really dropped since I swapped,I'm sure Sainsburys have reduced some of their fruit and veg prices too.

I hate the Tesco monopoly thing,sure I read somewhere that Mr Sainsburys gives quite a lot to charity.

I have been completely underwhelmed with their "Price Drop" campaign. They so obviously artificially increaded their prices 2 months ago only to "drop" selected items back to just over their original price.

Memo to Tesco: we ain't that stupid.

Hurrah! Bastards who screw their suppliers (i'm sure other supermarkets do too, but i think they take the biscuit). I will not shop there.

I hope this doesn't mean worse news for their suppliers as Tesco try and protect their (massive) margins

We switched to Sainsbo's during the News of the World scandal, apparantly Tesco were one of the last advertisers standing and flatly refused to pull their advertising from NotW. Now i am not saying that my single boycott caused this but i am having a giggle at it!

Sainsbo's are so much nicer anyway, and their basics stuff is far superior to tesco value

The like for like UK sales were down but underlying profit was up - £1.9bn.

Clearly the co is struggling...

SazZaVoom, the suppliers will take the hit, undoubtedly. Tesco always makes sure that's the case.

Such good news, they are a greedy and ignorant company who only work for themselves, and not at all for the people. Their inane pricing system is clever to get around all laws when I have reported them to Trading Standards. Any complaint takes months to resolve, and is always in their favour. They treat the average customer with such contempt.
This is just one example of one of my complaints.....
I had 27 pounds worth of vouchers which was trebling points for another con artist who was doing a joint promotion BARCELO HOTELS. Oh good I thought, I checked their website and found a hotel of theirs which looked nice in an area of Spain by the Portuguese border Canelas. They were offering BB for around 40 euros per night but you had to phone a special number to use your vouchers, that, of course you had to send your Tesco vouchers in to. So I did, only to find
you did not get the lowest rate advertised it was around double for BB. So, I then asked what the DBB was and it represented a better deal.
It said you COULD cancel but instead I phoned again, and remonstrated with them that this was unfair, it was the EXACT same room!!! The girl was stroppy, with a oh go away type of atttude. So I began to get angry as this was the up-teenth time I had been ripped of at Tesco.
I contacted Trading Standards who were clear with their explanation, that if they said cannot be used in conjuction with any other offer, such as an online offer, they had covered their backs.
Then, ....and it normally takes ages with any proper response, I put on the heading of the email RE BARCELO HOTELS COPIED TO THE TRADING STANDARDS DEPT. Guess what, an instantaneous response!!!!
So...the moral of the story is write COPIED TO THE TRADING STANDARDS DEPT on your emails if you want a response before next Xmas.
I also then received an email from Barcelo's Head of Crap Dept who says....I can't give you the online price and take your vouchers off that because WE AS A TRADING PARTNER HAVE TO GIVE TESCO'S 50% OF YOUR BOOKING FEE!!!!!!
She was really angry, and at least I did have some revenge, as she too was feeling an ounce of the frustration I felt with them and Tesco's.
Friends, Romans, Countrymen, lend me your ears....boycott them! They are greedy opportunists who continue to develop new lines with no worry of closing down insurance businesses, banks, utility brokers, telecoms, beyond the corner grocer.
They rip us off, and we return, well, let it be no longer, tell everyone you know and celebrate when they loose even more profits in the next quarter.

I guess it had to happen eventually. Tesco couldn't simply keep increasing it's profits forever. I think it's had a good run.

Personally I switched to Aldi years ago and only go to Tesco's now to top up on brands/stuff I can't get in Aldi. The cost of Tesco's is eye watering compared to Aldi and I resent the devious way they price things. I mean they'll raise the price for a while then drop it and tell us they're saving us money etc.

I'm also concerned now about the sheer amount of supermarkets, especially it seems Tesco's. Now I've always preferred to shop at Tesco Extra's if I was going to a big 4 because of the size & range. But last year they opened up a HUGE one in the next town to us. The size of this thing is bonkers. It's almost an ordeal to walk from one side to another. There's even a Greg's, Costa Coffee etc inside and that's not including all the Tesco shops like Bike shop, mobile shop etc.

I just wonder how many more supermarkets the UK can sustain.

Ahhh it goes in cycles. Sainsbo stuff is much nicer but a few years ago they were top dog and got knocked off their pedestal too - deservedly so. Unfortunately Tesco is my corner shop and while I do my big shopelsewhere, my principles only extend about 500 yards at 8pm at night when I need a bottle of milk

Like Summerbird I switched because of the NOTW stuff. It was the straw that broke camels back, horrible company with horrible business practices.

Tesco's crooked offers as mentioned below,reduction in clubcard points,taking over of our highstreet a la in Bristol,expensive prices and shit products basically made me switch to Sainburys.

I buy everything in the Basic range and it's better quality then normal Tesco products and waaaay cheaper.I do a good weekly shop for 5 in Sainburys which includes packed lunch box stuff,2 X meat(their Basics roast pork joint and cooking bacon are fab),freerange chicken, 1 packet Lavazza coffee and Ecover washing powder-£80 or under without fail.

I was delighted to see this news today .

The world would be so much better without them. A lot of middle market brands are going to suffer but I hope Tesco gets it the worst.

The mistake Tesco have made is in trying to go after Aldi and match their prices. They have bigger overheads than Aldi so all they've done is deflate their own sales and fill the shelves with poor quality rubbish..... squeezed suppliers don't send the best stuff to Tesco, trust me on that one. They should take a leaf out of Sainsbury's book, stop pretending to be a discounter, up the quality & charge a fair price for it.

Would caution people against too much shadenfreude. Tesco employs thousands directly and keeps a lot of other people in jobs indirectly. I hope they turn it around.

The quality of food is poor at tesco but I recently converted my vouchers x4 and got over £600 of goldsmiths vouchers. That was pretty amazing.

I agree the offers are often rubbish and I hate the 'discount brands at tesco' I am suspicious of their quality and won't buy them, I liked that it used to be just value, normal and finest plus main brands, that was ample choice for me.

tesco are going to go the same way as sainbury's did a few years ago

the problem with tesco is that they penny pinch so much, only employing part-time staff (in new stores), changing people contracts so on less pay then before, getting rid of their own wearhouse staff and using agentcy (cheaper!)

when sir terry left, he left the company in a very shit way. he wanted to go out with a bang with major profits. in most tesco stores now you are told that you are lucky to have a job, if you dare to complain about having to do 2 peoples job

the customers are getting a raw deal and will vote with there feet. in one store that i know of, in the week before xmas only 4 checkouts were open as they didn't have the staff to open more. the staff are under pressure as everything they do, they are timed. from how long it takes to scan an iten through the checkout to how long it should take to put a case of stock on the shelf

i can only hope that tesco do buck up there ideas but i don't see the happening soon

Poor quality food, dishonestly priced......I haven't shopped there for over 10 years now.
I use small local shops when I can and also Aldi, Co -Op and Waitrose.

Read the book Tescopoly for more , especially the stuff about setting up complicated trusts to minimise tax exposure. Maybe not illegal, but I'd rather the money I spend stays local.

They reap what they sow.

I only shop there when I desperately need something and there isn't any other shops around where I am at the time.

Over priced, doubling the price of things just before and during offers, crap fruit and veg that rots before your eyes, what do they expect?

Even their plastic bags have turned shit and shrunk (even more off putting when your out and about without your shopping bags and remember you got no milk etc).

I live in the middle of an industrial estate (Park Royal), no such thing as local shops round here, when I was trying to look up where the nearest fishmonger is, it's 2 and half miles away. I have a 24 hour ASDA 20mins up the road I normally go to, half hour walk to a massive sainsbury.

LOL didn't notice this was the thread I started long ago at the last profit drop.

Ha ha shows they never learn, they will die IMHO, they must hear the cries of the customers yet they ignore it time after time, profit drop after profit drop.

They can't make an acceptable profit when they are utilising workfare participants?

My heart bleeds for them.

Used to buy meat at Tesco,but not now. If you look closely at their packs of beef mince,they all say "fresh and frozen meat". Doesn't matter if it's the value mince or the Scottish organic. Even the manager I asked about it was puzzled. Why mix the two?

Serves them right for workfare.

Con artists with their devious manipulation of pricing to try and make out they are saving you money while they are in fact ripping you off. The thing that tipped me over the edge was bog roll. Value Tesco bog roll. I used to buy their pack of 12 value bog roll, and I think it was priced at around £1.48 or something. Then, they withdrew this item, and brought back only the 4 pack of value bog roll at £1.31. So, previously you got 12 for £1.48 which works out at about 12p a roll? Now it's 32p a roll. Fecking con artists. Where is the justification in hiking up the price of value bog roll by over 200%?

Couldn't have happened to a more deserving bunch of crooks.

Profits down. Really? Just how much cheese did the gnome-chef nick?

magic