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Tesco: Pension Black Hole And Eye Watering Losses

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http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11547618/Tesco-to-plug-pensions-black-hole.html

Tesco is almost a public utility to me, free car parking, check outs that are empty and you walk into, food that is knocked down to nothing and cuts my bill in half compared to what I would pay at Lidl, Staff that have time on their hands and walk you to food you can't find.

No wonder they are making a loss, it's a great service but how can it make money. Guess you have got to go a crowded Lidl or expensive Waitrose to actually pay the company for the service you are receiving.

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http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11547618/Tesco-to-plug-pensions-black-hole.html

Tesco is almost a public utility to me, free car parking, check outs that are empty and you walk into, food that is knocked down to nothing and cuts my bill in half compared to what I would pay at Lidl, Staff that have time on their hands and walk you to food you can't find.

No wonder they are making a loss, it's a great service but how can it make money. Guess you have got to go a crowded Lidl or expensive Waitrose to actually pay the company for the service you are receiving.

Co-sign all of the above.

I like to check my Tesco Local on my way home from work, pick up tomorrow's lunch for 21p.

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http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11547618/Tesco-to-plug-pensions-black-hole.html

Tesco is almost a public utility to me, free car parking, check outs that are empty and you walk into, food that is knocked down to nothing and cuts my bill in half compared to what I would pay at Lidl, Staff that have time on their hands and walk you to food you can't find.

No wonder they are making a loss, it's a great service but how can it make money. Guess you have got to go a crowded Lidl or expensive Waitrose to actually pay the company for the service you are receiving.

I get the same service from Asda, but they are profitable. Maybe Tesco should poach Andy Clarke?

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I get the same from Morrisons.11.45am every morning the butcher reduces the meat.Freezer so stuffed iv taken over my parents as well now.Mostly pick up their extra special stuff for 30% of the price.Aldi is hugely expensive compared to what i pay.

If that store ever closes it will take my retirement back about 6 years.

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http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11547618/Tesco-to-plug-pensions-black-hole.html

Tesco is almost a public utility to me, free car parking, check outs that are empty and you walk into, food that is knocked down to nothing and cuts my bill in half compared to what I would pay at Lidl, Staff that have time on their hands and walk you to food you can't find.

No wonder they are making a loss, it's a great service but how can it make money. Guess you have got to go a crowded Lidl or expensive Waitrose to actually pay the company for the service you are receiving.

That's odd.

My Tesco has developed a cloying stench that pervades the whole store.

Many shelves are empty.

The staff are rude as hell.

You can't buy a bottle of wine for under a fiver - and the five pound ones are the usual suspects - Hardys and similar sh1t.

They still play the sly weight/pack price/bogof/voucher games. Anything full price is Lidl/Aldi + at least 30%

Even their bakery has gone to sh1t and you hear what sounds like the Jeremy Kyle show out the back.

Outside you always have a queue of chavs waiting for their council taxis.

Inside you get people walking around in track leggings/pyjamas that show their hairy (m & f) butt crack when they reach for their Mcains or Aunt Bessies.

Give me Lidl any day of the week.

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I get the same service from Asda, but they are profitable. Maybe Tesco should poach Andy Clarke?

Bulk of the losses are write downs on property.

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Inside you get people walking around in track leggings/pyjamas that show their hairy (m & f) butt crack when they reach for their Mcains or Aunt Bessies.

Give me Lidl any day of the week.

My local Tesco is somewhere you can be very confident in summer to find blokes walking about naked from the waist up.

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That's odd.

My Tesco has developed a cloying stench that pervades the whole store.

Many shelves are empty.

The staff are rude as hell.

You can't buy a bottle of wine for under a fiver - and the five pound ones are the usual suspects - Hardys and similar sh1t.

They still play the sly weight/pack price/bogof/voucher games. Anything full price is Lidl/Aldi + at least 30%

Even their bakery has gone to sh1t and you hear what sounds like the Jeremy Kyle show out the back.

Outside you always have a queue of chavs waiting for their council taxis.

Inside you get people walking around in track leggings/pyjamas that show their hairy (m & f) butt crack when they reach for their Mcains or Aunt Bessies.

Give me Lidl any day of the week.

That's the customers in my local Tescos - BO hell some days.

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http://www.telegraph.co.uk/finance/newsbysector/epic/tsco/11547618/Tesco-to-plug-pensions-black-hole.html

Tesco is almost a public utility to me, free car parking, check outs that are empty and you walk into, food that is knocked down to nothing and cuts my bill in half compared to what I would pay at Lidl, Staff that have time on their hands and walk you to food you can't find.

No wonder they are making a loss, it's a great service but how can it make money. Guess you have got to go a crowded Lidl or expensive Waitrose to actually pay the company for the service you are receiving.

I am no expert.....but JL partnership means profits are shared between their customers and staff.....Lidl means profits are passed to customers, staff and owner.

Anything else that has high expectation multiple share owners and fat cat executives expecting excessive pay and bonuses is not such an efficient cost effective model.......overheads far too high, too many people to pay before ordinary 'hard working' staff and 'value searching' customers get a look in......any good business never puts their customers on the bottom rung of the pecking order.....no business would exist without their customers. ;)

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......any good business never puts their customers on the bottom rung of the pecking order.....no business would exist without their customers. ;)

I'm amazed that Vodafone are still in business, then.....

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That's odd.

My Tesco has developed a cloying stench that pervades the whole store.

Many shelves are empty.

The staff are rude as hell.

You can't buy a bottle of wine for under a fiver - and the five pound ones are the usual suspects - Hardys and similar sh1t.

They still play the sly weight/pack price/bogof/voucher games. Anything full price is Lidl/Aldi + at least 30%

Even their bakery has gone to sh1t and you hear what sounds like the Jeremy Kyle show out the back.

Outside you always have a queue of chavs waiting for their council taxis.

Inside you get people walking around in track leggings/pyjamas that show their hairy (m & f) butt crack when they reach for their Mcains or Aunt Bessies.

Give me Lidl any day of the week.

Got to second that.

My local big Tesco: Me - "Can you tell me where the XXX s are please?" Tesco staff "That's not my job". Me "Hi - there's no shelf price for this item, could you find out how much it is please?", Tesco staff "No" (and this was from a member of staff walking around with a big placard saying "I'm here to help".

No wine costs less than £4.99 that's ever in stock although I can see that they have plenty of acceptable plonk at £3.49 on-line. All the own-brand or economy lines are totally hidden, you needs loads of time for your shop if you're going to find them. Bakery is utterly appalling, the in-store bread is the worst of any supermarket.

Much prefer Lidl, although it's getting very busy these days, not a fan of Aldi though. They don't seem to be so good around these parts.

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I'm amazed that Vodafone are still in business, then.....

I am not a customer of Vodafone......they have no impact on my life whatsoever......my water company does but they hold the monopoly I have no choice in who I buy my water from......they used to be British, they are no longer, I had no choice in that either......they can and do increase rates over and above inflation.....I have to pay or no water for now...........except there is a ground well a few yards away that has not been used for many years, there comes a point when it might be worth opening that up again for the people to use......always an alternative. ;)

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Tesco does seem in desperate decline, it's appalling here too despite recent attempts to gloss this over, the stench of failure is starting to seep back through.

I don't really care for face to face service as I wish to get in and out as quickly as possible so can't comment on that aspect, however they seem to go out of their way to make the shopping experience as obnoxious as possible from not having baskets, to queues even for the self scan tills, empty shelves and still ******ing the customer over on prices despite promises to make things clearer.

Food quality has got worse. As has been mentioned already, the bakery is symbolic of this, everything on it is shit and you can taste it, even the stuff loaded with sugar. Everything they bake is mostly white and always too 'doughy', even the fancy breads they recently introduced or things that are meant to be crusty.

Christ knows how the share price has recovered recently, perhaps market games before the final curtain call, I'm not so sure. Do I recall being discussed on a recent tesco thread that they don't own a lot of stores and are tied in to leasing a lot of what is now useless space?

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Apparently the CEO has threatened that Tesco will quit the UK if Cameron holds an EU referendum

http://www.dailymail.co.uk/news/article-3045728/Tesco-boss-warns-Cameron-cart-horse-pledging-EU-vote-without-knowing-Brussels-agree-to.html

Laughable posturing from a company that struggles to make any profit outside Britain. FFS if you are going to make threats at least be in a position to make them a reality. If he does move his HQ to another EU country he might find the labour laws rather less than accommodating than they are in the UK.

Edited by stormymonday_2011

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Apparently the CEO has threatened that Tesco will quit the UK if Cameron holds an EU referendum

http://www.dailymail.co.uk/news/article-3045728/Tesco-boss-warns-Cameron-cart-horse-pledging-EU-vote-without-knowing-Brussels-agree-to.html

Laughable posturing from a company that struggles to make any profit outside Britain. FFS if you are going to make threats at least be in a position to make them a reality.

That he puts higher priority on useless political gestures than on fixing his train-wreck of a company tells you just how bad a CEO he likely is.

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..I have to pay or no water for now.........

Legally, you cannot have the water cut off.

They will pursue a debt through the courts, though. If you can show a lack of disbosable income to the court you could end up paying half what you are now.

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the stench of failure is starting to seep back through.

Unfortunately, in the case of my local store, the stench is not a metaphore for Tesco's woeful business affairs.

I used to smell a similar stench back along, in Travelodges when they used to do the cleaning and before they went up market.

Edited by Bill D'arblay

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They used to say with every crisis there's opportunity. The UK media often used to quote "old Chinese saying" when they were pushing such a theme.

The likes of the Tesco CEO have had it so cushy for so long that with every crisis it's just a reason to scarper. Never any thought to rebalance or restructure.

He should just naff off to his new HQ outside of the UK and not come back.

Edited by billybong

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Complete lack of judgement. Does he think he and his sorry company should bully the democratic process exercised by its customers. The way to disenfranchise them even more in more senses than one.

Quite.

The question of whether Britain should or should not be in the EU is a democratic decision to be made by the voters of the UK not the CEO of some overblown grocery shop.

More to the point Tescos has always been able to move its HQ overseas anytime it wants. Why make it a political issue. The truth is they have always been free to go while the people of the UK are equally free not to shop in their stores. Maybe he is finding that latter reality hard to grasp.

Anyway if Tescos are going I am more than willing to help them pack as I have come to loath them.Their business model is propped on zero hours contracts and tax credits so they are essentially subsidised by the British taxpayer. It is hardly surprising that Tesco staff who don't know if they have a job from hour to hour don't give a f*ck about either the business or its customers

Edited by stormymonday_2011

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I am not a customer of Vodafone......they have no impact on my life whatsoever......my water company does but they hold the monopoly I have no choice in who I buy my water from......they used to be British, they are no longer, I had no choice in that either......they can and do increase rates over and above inflation.....I have to pay or no water for now...........except there is a ground well a few yards away that has not been used for many years, there comes a point when it might be worth opening that up again for the people to use......always an alternative. ;)

Good luck with that,try to cancel your water and say i no longer want your service ,they just do not listen and still send the bills out.As far as they are concerned you cannot live without mains water,even if you have your own supply.

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I am not a customer of Vodafone......they have no impact on my life whatsoever......my water company does but they hold the monopoly I have no choice in who I buy my water from......they used to be British, they are no longer, I had no choice in that either......they can and do increase rates over and above inflation.....I have to pay or no water for now...........except there is a ground well a few yards away that has not been used for many years, there comes a point when it might be worth opening that up again for the people to use......always an alternative. ;)

The well would still be the subject of regulations - details here http://dwi.defra.gov.uk/private-water-supply/ownersindex.htm

You also have to consider whether your property or others are connected to the public sewerage system. If not, there are regulations of things like septic tanks - the arrangements vary depending on which constituent country of the UK you live in.

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