£3.13 billion

[sleep envy]

that's a lot of beans and bog roll

[anonymous-user]

sleep envy said:

that's a lot of beans and bog roll

That's just the profit. Over £1b per week was beans etc

[Plotloss]

s.

[sleep envy]

Plotloss said:

s.

40% dude, 40fking%

[Plotloss]

Sir Terry Leahy, yesterday.

[sleep envy]

nah, TL is far more solemn

[wolves_wanderer]

Funny old world. When it is a bank or oil company they are lauded on here and cursed elsewhere, when it is tesco nobody else cares but to people on here they are "s".

[sleep envy]

when they're your biggest client you'll call them s too...

[oyster]

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

[okgo]

oyster said:

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

£££

Amazing really what they have done, despite adverse conditions.

[ZondaMan]

okgo said:

oyster said:

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

£££

Amazing really what they have done, despite adverse conditions.

Yep. Well done them.

[sleep envy]

oyster said:

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

and make 15% of the business redundant

[Don]

okgo said:

oyster said:

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

£££

Amazing really what they have done, despite adverse conditions.

Not really. Food in general isn't that price sensitive. What they've achieved is to successfully migrate their stock to that which continues to sell very quickly.

That's pretty damn clever, mind.

[okgo]

Don said:

okgo said:

oyster said:

sleep envy said:

when they're your biggest client you'll call them s too...

So why don't you cancel your contract with them?

£££

Amazing really what they have done, despite adverse conditions.

Not really. Food in general isn't that price sensitive. What they've achieved is to successfully migrate their stock to that which continues to sell very quickly.

That's pretty damn clever, mind.

They have done better that the other supermarkets? No?

Either way, whoever is running that business is doing it right (or the thousands of managers etc).

[Plotloss]

Its not enormously difficult to post a profit when you're operating a technical monopoly, one suspects.

[sleep envy]

okgo said:

They have done better that the other supermarkets? No?

Morrisons have stolen a march on them in the UK but Tesco's biggest gains came in Europe

They've tanked in the US as they've gone away from their normal business model and the Yanks don't get it but they have 2 new markets that they are going to enter in the next 18 months...

[anonymous-user]

Plotloss said:

Its not enormously difficult to post a profit when you're operating a technical monopoly, one suspects.

Technical monopoly? Asda, Morissons, Co Op, Sainsburys etc etc.

Plenty of choice out there.

[Plotloss]

Dave_ST220 said:

Plotloss said:

Its not enormously difficult to post a profit when you're operating a technical monopoly, one suspects.

Technical monopoly? Asda, Morissons, Co Op, Sainsburys etc etc.

Plenty of choice out there.

When I went to school you were termed a monopoly when you controlled 25% of a market.

Tescos have 35% of the supermarket market in the UK.

[johnfm]

Weren't sales something like £1bn per week?

So, £3bn profit on £52bn sales - they're hardly raping and pillaging, are they at 5.8% margin.

Assuming the average transaction is £40 (huge assumption - it could be loads less) a fag packet calc suggests 25 Million transactions per week, with circa £2.30 profit.

Where's the issue?

[okgo]

Plotloss said:

Its not enormously difficult to post a profit when you're operating a technical monopoly, one suspects.

Even one as large as that? I do agree that they seem to be the people holding most of the cards, but there are no doubt some other big players, I didn't even think about Morrison's becoming so large, (don't think there are that many round me) but Sainsburies, ASDA, Waitrose etc all have a big base in the UK at least. But as SE has said about the bulk of their money coming from Europe, perhaps if we were looking at UK profits alone it would tell a different story.