J4MES OX4D 9,897 Posted October 23, 2014 Share Posted October 23, 2014 How the mighty have fallen! Once the biggest High Street shopping chain who dominated the supermarket space whilst moving into other ventures such as mobile and other electronics; now their profits have dropped to 47%. they've been overtaken by ASDA in terms of value and 18 executives have been suspended pending an investigation into false accounting after they published some inflated profit projections that were about £250,000,000 off the mark. They were one of the most powerful companies in the country - the Google of shops and nobody could have foreseen even the slightest drop in performance. They made some massive and aggressive expansion strides with smaller stores in locations that put several independent businesses out of business and you could only see them growing and growing further. Now everything seems to be on the ropes Ouch! They probably need to stop expanding and focus more on their existing business and get a grip back on the market. Link to comment Share on other sites More sharing options...
Madjonny 386 Posted October 23, 2014 Share Posted October 23, 2014 Yep, a few years ago it seemed like tesco was trying to take over the world... I haven't really noticed anything from a customer point of view over the past year, we still use tesco... Although we don't always, we just go wherever is most convenient at the time... What has actually gone wrong? Link to comment Share on other sites More sharing options...
J4MES OX4D 9,897 Posted October 23, 2014 Author Share Posted October 23, 2014 What has actually gone wrong? Probably got a bit too big for their own good whilst other chains improved. I've seen that they still have lots of completed stores they've acquired but haven't actually moved in to and their rapid Express expansions aren't always viable in some areas as they try to compete to heavily with others practically on the doorstep. In a place called Summertown in Oxford; we have a Tesco, Sainsburys, M&S and Co-Op all within a 200 yard space. It's just mental but if Tesco actually moved half a mile up the road near a prime housing area; they could have made a killing instead of trying to drive others into the ground including themselves. Also their product range is getting a bit too mainstream, predictable and lackluster whilst the likes of Aldi and Lidl seem to be coming in with more original goods more ideally priced. Tesco need a range refresh and overhaul and need to get their prices competitive again. In the last couple of years; they've taken the market and people for granted and perhaps have been far too cocky and arrogant. Others like Morrisons are even catching up by driving prices down. Christmas is gonna be a crucial time and I think they'll struggle as it's not enough time to dramatically turn the tide. Link to comment Share on other sites More sharing options...
techno 3,493 Posted October 23, 2014 Share Posted October 23, 2014 Have to say I've always found tesco's range just so much worse than other chains when I've actually had to call in. I don't really find this a surprise. Link to comment Share on other sites More sharing options...
Diddums 4,309 Posted October 24, 2014 Share Posted October 24, 2014 Tesco's been showing cracks for years but have been cooking their books very efficiently to hide it. Now the lid's off the can contains many more worms than were anticipated. As long as my local Extra doesn't go I'm happy. Brand new store, absolutely massive with tons of parking. Link to comment Share on other sites More sharing options...
phil bottle 9,672 Posted October 24, 2014 Share Posted October 24, 2014 It's laughable really. They're still making massive profits. It's not like they're going under or losing money. What's not laughable is that we're supposed to give a shit and that we're suppsoed to panic because they're not making as much profit as they suggested they would. Incredible. What a stupid world we live in. Link to comment Share on other sites More sharing options...
Plumbers Crack 4,052 Posted October 24, 2014 Share Posted October 24, 2014 This ^^^^ Whenever I hear the words "The markets..." on the radio, I sigh Thanks to Capn_Underpants for the artwork Link to comment Share on other sites More sharing options...
Just Cal 461 Posted October 28, 2014 Share Posted October 28, 2014 This isn't helping the image Link to comment Share on other sites More sharing options...
Plumbers Crack 4,052 Posted October 28, 2014 Share Posted October 28, 2014 Bloody hell!! Thanks to Capn_Underpants for the artwork Link to comment Share on other sites More sharing options...
GazzaGarratt 10,954 Posted October 29, 2014 Share Posted October 29, 2014 I do agree with what has been ssaid however Tesco plays to my strengths: Me and my family eat bland boring food Biggest Tesco store on my front door I have a Tesco Credit card Get a shit load of tesco points Double up vouchers to buy things like... CoD for free! Link to comment Share on other sites More sharing options...
J4MES OX4D 9,897 Posted October 29, 2014 Author Share Posted October 29, 2014 Criminal fraud probe now http://www.bbc.co.uk/news/business-29821061 Link to comment Share on other sites More sharing options...
deterioration 443 Posted October 29, 2014 Share Posted October 29, 2014 I didn't know what Tesco was prior to reading this thread but I'm glad I do because this more woe headline is gold. Link to comment Share on other sites More sharing options...
Plumbers Crack 4,052 Posted October 30, 2014 Share Posted October 30, 2014 Pure comedy gold that! Thanks to Capn_Underpants for the artwork Link to comment Share on other sites More sharing options...
tronic44 3,640 Posted October 30, 2014 Share Posted October 30, 2014 Tesco sucks big donkey dick fact Link to comment Share on other sites More sharing options...
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