Sancho Panza Posted December 29, 2014 Author Share Posted December 29, 2014 http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11315342/Big-Four-supermarkets-face-more-pain-over-business-rates.html 'Britain's biggest supermarkets have been hit by increasingly disproportionate hikes in business rates that will spell more pain for the grocery giants next year as sales decline, new analysis shows. Tesco, Sainsbury’s, Asda and Morrisons face an additional bill of more than £110,000 per superstore in 2015-16 compared with when the Coalition came to power in 2010-11. Paul-Turner Mitchell, a business rates campaigner who has advised the British Property Federation, said this represented a 19pc increase over the period. It means the “Big Four” face paying £693,651 more in property tax for each of their bigger stores, while small businesses have seen their bills reduced. This comes as retail specialists Kantar project that income for Tesco’s largest “Extra” stores will fall by 13pc to an estimated £66.8m per store in 2016, from £76.9m in 2011, under increasing pressure from discounters Aldi and Lidl. Mr Turner-Mitchell said just under 2,000 of the biggest stores, which represent less than 0.5pc of all shops and retail warehouses in the UK, now pay a fifth of the business rates bill for retail premises. Tesco has already abandoned plans to open a superstore in Margate after fighting for years to get planning permission, and is considering selling off property assets.' Quote Link to comment Share on other sites More sharing options...
Venger Posted December 29, 2014 Share Posted December 29, 2014 Venger what's the source on that one?Looks very interesting. Sent you pm SP, with links to possible sources that may still have it in stock - old business book, and thanks for the pm reply. As pensions being discussed, that was a long piece in ST yesterday. Just a snippet below... will dividends be cut? Sunday Times 28.12.2014 Tesco faces new blow with £3bn hole in pensions Supermarket giant could be forced to pay an extra £300m a year to make up shortfall in retirement fund [snip]The last full assessment of the fund's finances was complete in 2011. That showed a deficit of £934m. Tesco made an extra payment of £180m in 2013 to help full the gap - but set aside only £3m last year. These payments were on top of its routine contributions. The scheme's assets include property that is used by the group. On top of that, the pension fund has a claim over £416m of Tesco property: it is "held as security in favour of the scheme" according to the report. Tesco said its pension scheme "has a diversified portfolio. It does not invest directly in Tesco shares." The Tesco property assets "represent less than 2% of the scheme's assets".[/snip] Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted December 29, 2014 Share Posted December 29, 2014 Loads of Tesco deals on hotukdeals in the past week or so - everything from small tins of lip balm right up to big items such as fllat screen TVs and everything in between. Methinks they are desperate to sell as much as possible this quarter. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted January 1, 2015 Share Posted January 1, 2015 Heads up! Date for your diaries! Mon 12th Jan 20:30 Panorama: Trouble at Tesco Tesco is losing customers, its share price is down and profits have taken a tumble. As it faces a criminal investigation over accounting practices, the BBC's business editor Kamal Ahmed investigates what's gone wrong inside the supermarket. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 4, 2015 Share Posted January 4, 2015 (edited) Tesco, Sainsbury's and Marks & Spencer to report Christmas sales slump http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11322723/Tesco-Sainsburys-and-Marks-and-Spencer-to-report-Christmas-sales-slump.html Share price to take more knocks this week? Edited January 4, 2015 by The Masked Tulip Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 4, 2015 Share Posted January 4, 2015 (edited) Struggling supermarkets sitting on more than 1,000 acres of land http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11324265/Struggling-supermarkets-sitting-on-more-than-1000-acres-of-land.html Edited January 4, 2015 by The Masked Tulip Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted January 4, 2015 Share Posted January 4, 2015 Struggling supermarkets sitting on more than 1,000 acres of land http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11324265/Struggling-supermarkets-sitting-on-more-than-1000-acres-of-land.html Landbankers masquerading as supermarkets. Probably get rezoned for housing or offices and even more uplift. Nice (lack of) work if you can get it. LVT would have sorted that out. Quote Link to comment Share on other sites More sharing options...
council dweller Posted January 4, 2015 Share Posted January 4, 2015 A couple of months ago they were recruiting a lot of new staff, now they`re going to reduce staff. Things are very bad and getting worse exponentially. Quote Link to comment Share on other sites More sharing options...
council dweller Posted January 4, 2015 Share Posted January 4, 2015 Getting rid of staff and selling off land....what other choices do they have? Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted January 5, 2015 Share Posted January 5, 2015 (edited) My experience of Tesco over the Christmas period was that they significantly raised their prices relative to others. One £18 shop generated a £2.93 more expensive voucher. I had to get authorisation to use that 'voucher' on their self service tills so even their own systems were shocked. It's out of location convenience I shop there but their prices are still too high. I really should make the effort in 2015 to shop elsewhere. Edited January 5, 2015 by Ash4781 Quote Link to comment Share on other sites More sharing options...
winkie Posted January 5, 2015 Share Posted January 5, 2015 (edited) Customer perception is very important when it comes to value and price...for example went to a store one of the smaller independent British discounters saw a branded product washing aid cost £4.99 exactly the same product size and weight in tesco £12......that gives the customer the impression, if that is the mark up on just that one product what else are they selling with the same mark up even if other things might be less......that is why people now shop around. Edited January 5, 2015 by winkie Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 5, 2015 Share Posted January 5, 2015 My experience of Tesco over the Christmas period was that they significantly raised their prices relative to others. One £18 shop generated a £2.93 more expensive voucher. I had to get authorisation to use that 'voucher' on their self service tills so even their own systems were shocked. It's out of location convenience I shop there but their prices are still too high. I really should make the effort in 2015 to shop elsewhere. My local Tesco Express has put up prices since last week but the local Sainsburys has put up prices so much that I found myself shocked looking at the prices. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 5, 2015 Share Posted January 5, 2015 My local Tesco Express has put up prices since last week but the local Sainsburys has put up prices so much that I found myself shocked looking at the prices. Everything goes up at Christmas people have to eat.....the way to beat it is buy from the stores that didn't judge the market well and purchased too much supply...January Christmas discounts. Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted January 5, 2015 Share Posted January 5, 2015 (edited) Everything goes up at Christmas people have to eat.....the way to beat it is buy from the stores that didn't judge the market well and purchased too much supply...January Christmas discounts. I have enough potatoes for the next 2 months for a saving of 88% - thanks to Sainsbury's overstocking and a 27th Dec 'sell by date' And the potatoes I've been eating since October all fell off the back of a lorry - literally Edited January 5, 2015 by LiveinHope Quote Link to comment Share on other sites More sharing options...
Timak Posted January 5, 2015 Share Posted January 5, 2015 I met up with an old schoolfriend over Christmas who worked at Tesco as a store manager up until about 3 years ago. He isn't surprised at all about their demise. In his opinion it all went downhill when they decided that because sales weren't increasing then they had to reduce costs - because profits always have to go up for some reason. They reduced costs by slashing terms and conditions for staff. So all the good ones left to work for competitors (Aldi/Lidl pay much better) and the stores went downhill. So people stopped shopping there. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 5, 2015 Share Posted January 5, 2015 growth by any means...even if it kills your customer base. I think people are starting to get peed off with all the hidden inflation and loss of quality...I beleive a push to quality is in the air. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 5, 2015 Share Posted January 5, 2015 growth by any means...even if it kills your customer base. I think people are starting to get peed off with all the hidden inflation and loss of quality...I beleive a push to quality is in the air. Air....funny you should mention that, that is one new ingredient that is entering products big time, food and non-food.....from dips,ice cream,deserts,soft cheese...new whipped products more air than substance.....cleaning aerosol products, just to mention a few....air and water to bulk up mass. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted January 5, 2015 Share Posted January 5, 2015 growth by any means...even if it kills your customer base. I think people are starting to get peed off with all the hidden inflation and loss of quality...I beleive a push to quality is in the air. Well, that already appears to have begun re Waitrose and M&S food in 2014. Also John Lewis, who traditionally cost a bit more than most companies, has been doing very well. People seem happy to pay an extra £50 or £100 to buy their fridge or TV from JL than from others it would seem. Having said that, JL now have a quite aggressive price match system but, as you have to call them, I wonder how many people actually even know about it. Quote Link to comment Share on other sites More sharing options...
200p Posted January 5, 2015 Share Posted January 5, 2015 I met up with an old schoolfriend over Christmas who worked at Tesco as a store manager up until about 3 years ago. He isn't surprised at all about their demise. In his opinion it all went downhill when they decided that because sales weren't increasing then they had to reduce costs - because profits always have to go up for some reason. They reduced costs by slashing terms and conditions for staff. So all the good ones left to work for competitors (Aldi/Lidl pay much better) and the stores went downhill. So people stopped shopping there. All execs have to believe in blue sky growth. If the business isn't growing every day, it is dying. A company must capture all the money today, the past and the future...........muahaha...........!!!!! (madness) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 5, 2015 Share Posted January 5, 2015 My local Tesco Express has put up prices since last week but the local Sainsburys has put up prices so much that I found myself shocked looking at the prices. Surely not, their adverts tell me what great deals they give me. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted January 8, 2015 Share Posted January 8, 2015 Bump. Trading updae and new strategy is out. aapologies, no link yet. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 8, 2015 Share Posted January 8, 2015 Cheshunt house prices now toast. Welwyn supported. Quote Link to comment Share on other sites More sharing options...
GeordieAndy Posted January 8, 2015 Share Posted January 8, 2015 (edited) Closing some stores and sales down again: http://www.bbc.co.uk/news/business-30712762 The beleaguered supermarket Tesco has said it will close 43 unprofitable stores across the UK - a "significant proportion" of which will be local convenience shops. The firm is also shelving plans to open a further 49 new "very large" stores. Additionally, Tesco is closing its staff pension scheme, will make cuts of £250m, and reduce overheads by 30%. and Overall, comparable sales for the three months to the beginning of January were down by 2.9% Edited January 8, 2015 by GeordieAndy Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 8, 2015 Author Share Posted January 8, 2015 (edited) Cheshunt house prices now toast. Welwyn supported. . Edited January 8, 2015 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted January 8, 2015 Author Share Posted January 8, 2015 (edited) Closing some stores and sales down again: http://www.bbc.co.uk/news/business-30712762 and http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11332130/Tesco-to-close-headquarters-and-43-stores.html 'Dave Lewis, the new chief executive, also said that he intends to close Tesco’s defined benefit pension scheme - one of the most generous in the country – sell the analytics business behind Clubcard, scrap the dividend payout to shareholders, and slash 30pc of the retailer's central costs.' Divi gone. I also see they're touting the 0.3% drop in sales in the 6 weeks to Christmas,which does make you ponder how bad the previous 6 weeks must have been if QoQ like for like is down 2.9% Shares up 6% to 192.....buy buy buy. Edited January 8, 2015 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
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