| Tesco £2.3BILLION Profit on 11:13 - Apr 10 with 725 views | soupytwist |
Jay Rayner has been vocal on this topic before. Here he is on X/Twitter a few weeks back talking about Sainsbury's but it's applicable to the whole supermarket sector.
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| Tesco £2.3BILLION Profit on 11:14 - Apr 10 with 722 views | SuperKieranMcKenna |
| Tesco £2.3BILLION Profit on 11:08 - Apr 10 by Guthrum |
I understand entirely the anger. But "shareholders" is not just wealthy individuals. A large proportion* are ordinary people's pensions, mortgage endowments, savings, plus charities and the like.
* Tho they may be removed by a layer or two of funds invested in other funds. Same as the Arizona emergency workers money went into ORG, a subsidiary fund of which then put cash into ITFC. |
And to add the whole point of equities in the first place is to provide a source of capital by which firms can operate, invest, expand, fund R+D. The dividend is payback for lending that capital (assuming the firm does not fail).
I’d add that the last two years in the post-COVID world the UK had seen the highest business failure rate since the GFC, so it’s not true that all firms are engaging in ruthless profiteering - many have failed as a result of inflationary pressures on their overheads and supply chains. |  | | |
| Tesco £2.3BILLION Profit on 11:14 - Apr 10 with 719 views | soupytwist |
| Tesco £2.3BILLION Profit on 11:05 - Apr 10 by Herbivore |
Did we ever have a vote on whether we wanted an economy that distributes money upwards from the masses to a small elite who profiteer from the rest? I must have missed that particular vote. |
We did, but they dressed it up as a referendum on whether we remained in the EU or not. | | | |
| Tesco £2.3BILLION Profit on 11:17 - Apr 10 with 686 views | SuperKieranMcKenna |
| Tesco £2.3BILLION Profit on 11:10 - Apr 10 by Herbivore |
They are problems largely created by capitalism. This is a fairly route one example of how capitalism enables large corporations to make eye watering profits from money earned by those who don't have very much in the grand scheme of things. Governments can choose to do more to alleviate poverty but until they start meaningfully looking to stop the upwards redistribution of wealth then it's tinkering around the edges. |
Well said mate - there is no poverty outside the capitalist West. | | | |
| Tesco £2.3BILLION Profit on 11:33 - Apr 10 with 642 views | lurcher |
| Tesco £2.3BILLION Profit on 11:05 - Apr 10 by Herbivore |
Did we ever have a vote on whether we wanted an economy that distributes money upwards from the masses to a small elite who profiteer from the rest? I must have missed that particular vote. |
Yes people voted for a conservative government. |  | | |
| Tesco £2.3BILLION Profit on 11:36 - Apr 10 with 628 views | The_Flashing_Smile |
| Tesco £2.3BILLION Profit on 11:08 - Apr 10 by Guthrum |
I understand entirely the anger. But "shareholders" is not just wealthy individuals. A large proportion* are ordinary people's pensions, mortgage endowments, savings, plus charities and the like.
* Tho they may be removed by a layer or two of funds invested in other funds. Same as the Arizona emergency workers money went into ORG, a subsidiary fund of which then put cash into ITFC. |
Indeed, I'm a Tesco shareholder, so good news for their profits is good news for me.
Where I am I've found my weekly shop to be cheaper at Tescos than Sainsburys, but I do have my Clubcard built into my credit card, so I never forget it. If you get the offers you can make your money stretch to a reasonable amount.
What people don't seem to understand, if a massive company like Tesco were doing badly (which some in this thread seem to want) that would actually be really bad for our economy. And as others have said, there are so many more options if shopping at Tesco irks you. Not like, say, rising council tax, water, train fares etc. where you have no choice. |  |
| Trust the process. Trust Phil. |
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| Tesco £2.3BILLION Profit on 11:39 - Apr 10 with 612 views | WD19 |
From about 70bn revenue no!? That is quite a skinny OP. |  | | |
| Tesco £2.3BILLION Profit on 11:41 - Apr 10 with 610 views | soupytwist |
| Tesco £2.3BILLION Profit on 11:36 - Apr 10 by The_Flashing_Smile |
Indeed, I'm a Tesco shareholder, so good news for their profits is good news for me.
Where I am I've found my weekly shop to be cheaper at Tescos than Sainsburys, but I do have my Clubcard built into my credit card, so I never forget it. If you get the offers you can make your money stretch to a reasonable amount.
What people don't seem to understand, if a massive company like Tesco were doing badly (which some in this thread seem to want) that would actually be really bad for our economy. And as others have said, there are so many more options if shopping at Tesco irks you. Not like, say, rising council tax, water, train fares etc. where you have no choice. |
Not sure anyone wants Tesco to 'do badly' but if they did slightly less well perhaps other businesses (like some of their suppliers) might do better and the combined effect could be more beneficial than Tesco alone doing this well. | | | |
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| Tesco £2.3BILLION Profit on 12:00 - Apr 10 with 581 views | quirkie |
Fag packet calculations.
£2.3 Billion profit over around 4000 stores is about £0.5 Million profit per year per store.
Which is about £1500 a day profit per store or £100 profit an hour per store.
I'm not calling that scandalous to be honest seeing as I can go Asda, Aldi, Sainsbury's, M&S, etc etc if I want.
Now if it is a Water Company making similar profits I can understand seeing as I can't go anywhere else apart from the Water Company I'm with.
Sometimes people want to be outraged by anything without engaging the grey matter. |  |
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| Tesco £2.3BILLION Profit on 12:04 - Apr 10 with 572 views | GlasgowBlue |
Would you prefer they made a loss and started laying off staff? There are other supermarkets available. |  |
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| Tesco £2.3BILLION Profit on 12:06 - Apr 10 with 558 views | Aviator |
| Tesco £2.3BILLION Profit on 11:05 - Apr 10 by Herbivore |
Did we ever have a vote on whether we wanted an economy that distributes money upwards from the masses to a small elite who profiteer from the rest? I must have missed that particular vote. |
Tesco has more than a small elite number of shareholders. I suspect the owner of your average independent farm shop with rip-off prices is far more wealthy than the average Tesco shareholder.
Supermarkets, I would suggest, are good for the economy as they operate at far higher productivity rates than independents. | | | |
| Tesco £2.3BILLION Profit on 12:06 - Apr 10 with 570 views | Herbivore |
| Tesco £2.3BILLION Profit on 11:17 - Apr 10 by SuperKieranMcKenna |
Well said mate - there is no poverty outside the capitalist West. |
Seems I erroneously thought I was debating with someone over the age of 5. |  |
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| Tesco £2.3BILLION Profit on 12:07 - Apr 10 with 567 views | Herbivore |
| Tesco £2.3BILLION Profit on 11:33 - Apr 10 by lurcher |
Yes people voted for a conservative government. |
Labour won't be doing anything about Tesco's making billions of profit either, mate. | |
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| Tesco £2.3BILLION Profit on 12:08 - Apr 10 with 569 views | SuperKieranMcKenna |
| Tesco £2.3BILLION Profit on 12:00 - Apr 10 by quirkie |
Fag packet calculations.
£2.3 Billion profit over around 4000 stores is about £0.5 Million profit per year per store.
Which is about £1500 a day profit per store or £100 profit an hour per store.
I'm not calling that scandalous to be honest seeing as I can go Asda, Aldi, Sainsbury's, M&S, etc etc if I want.
Now if it is a Water Company making similar profits I can understand seeing as I can't go anywhere else apart from the Water Company I'm with.
Sometimes people want to be outraged by anything without engaging the grey matter. |
They also claim to have 80m shopping trips in their stores per week, which would equate a whopping 56p profit per trip…. | | | |
| Tesco £2.3BILLION Profit on 12:18 - Apr 10 with 548 views | chicoazul |
Keen to know more about why it’s scandalous OP. |  |
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| Tesco £2.3BILLION Profit on 12:20 - Apr 10 with 540 views | chicoazul |
| Tesco £2.3BILLION Profit on 10:48 - Apr 10 by Herbivore |
It's the facts that are causing the outrage, mate. Not everyone is cool with an increasingly small cabal of massive companies making eye watering sums of monn t while the country crumbled and more and more people struggle to make ends meet. If that's not a legitimate source of outrage, what is? |
Surely that is a political issue rather than a Tesco one? | |
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| Tesco £2.3BILLION Profit on 12:20 - Apr 10 with 536 views | Buhrer |
| Tesco £2.3BILLION Profit on 10:06 - Apr 10 by lurcher |
It's a shop not a charity, other shops are available. [Post edited 10 Apr 10:07]
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Makes it easier to apply your own lube? |  | | |
| Tesco £2.3BILLION Profit on 12:21 - Apr 10 with 536 views | BloomBlue |
Why is it scandalous.
You're not forced to shop there
It's one of the biggest employers in the country, paying huge sums in tax. |  | | |
| Tesco £2.3BILLION Profit on 12:28 - Apr 10 with 496 views | Herbivore |
| Tesco £2.3BILLION Profit on 12:20 - Apr 10 by chicoazul |
Surely that is a political issue rather than a Tesco one? |
Who has said it's a Tesco issue? It's a systemic one. Tesco are a symptom, not the cause. | |
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| Tesco £2.3BILLION Profit on 12:50 - Apr 10 with 463 views | SuperKieranMcKenna |
| Tesco £2.3BILLION Profit on 12:06 - Apr 10 by Herbivore |
Seems I erroneously thought I was debating with someone over the age of 5. |
Because you seem to be surprised that a company that has 4.1bn shopping trips a year, and revenue of $70bn might make some profit with a small margin of around 3pc. The alternative is you go back to smaller independent supermarkets, but food prices will rise since the scale of firms like Tesco’s allows them so much buying power. In fact this is probably to the detriment of farmers and other suppliers- but people are here complaining about the cost of food at Tesco so they won’t pay more to support local firms and farmers.
The other thing you’ve overlooked is the $2.3bn quoted is pre tax profit, the treasury will recieve £100’s of millions. Someone has to fund our public services, the state can’t fund itself- a healthy private sector is crucial. If they aren’t being taxed sufficiently, as others have also said that’s a matter of Government policy. | | | |
| Tesco £2.3BILLION Profit on 12:57 - Apr 10 with 442 views | Herbivore |
| Tesco £2.3BILLION Profit on 12:50 - Apr 10 by SuperKieranMcKenna |
Because you seem to be surprised that a company that has 4.1bn shopping trips a year, and revenue of $70bn might make some profit with a small margin of around 3pc. The alternative is you go back to smaller independent supermarkets, but food prices will rise since the scale of firms like Tesco’s allows them so much buying power. In fact this is probably to the detriment of farmers and other suppliers- but people are here complaining about the cost of food at Tesco so they won’t pay more to support local firms and farmers.
The other thing you’ve overlooked is the $2.3bn quoted is pre tax profit, the treasury will recieve £100’s of millions. Someone has to fund our public services, the state can’t fund itself- a healthy private sector is crucial. If they aren’t being taxed sufficiently, as others have also said that’s a matter of Government policy. |
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. | |
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| Tesco £2.3BILLION Profit on 13:06 - Apr 10 with 427 views | The_Flashing_Smile |
| Tesco £2.3BILLION Profit on 11:41 - Apr 10 by soupytwist |
Not sure anyone wants Tesco to 'do badly' but if they did slightly less well perhaps other businesses (like some of their suppliers) might do better and the combined effect could be more beneficial than Tesco alone doing this well. |
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)? | |
| Trust the process. Trust Phil. |
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| Tesco £2.3BILLION Profit on 13:09 - Apr 10 with 415 views | The_Flashing_Smile |
| 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. |
Good. There's far bigger fish to fry than Tescos doing well. | |
| Trust the process. Trust Phil. |
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| Tesco £2.3BILLION Profit on 13:14 - Apr 10 with 392 views | bazza |
| Tesco £2.3BILLION Profit on 13:09 - Apr 10 by The_Flashing_Smile |
Good. There's far bigger fish to fry than Tescos doing well. |
You leave Harry ramsden out of it !! |  | | |
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