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Tesconomics
Profile | Posted by | Options | Post Date |
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RolloTheRed | Report | 3 Oct 2013 08:33 |
See what happens when your fall off your trolley! |
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JustJohn | Report | 3 Oct 2013 09:16 |
I remember when I worked for Tesco back in 1978 that profits plummeted (not in my stores, but it was a very difficult time). Tesco employed 25,000 staff in those days (all in UK) and had ditched Green Shield stamps in 1977 (to coincide with Silver Jubilee). Sales were buoyant, but costs were uncontrolled. Profits had grown strongly since the war every year, but in 1978 they dropped back from something like £22m previous year to £18m. It was a strong rumour that KwikSave (the most successful discounter then) would mount a hostile takeover of Tesco. |
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Silly Sausage | Report | 3 Oct 2013 09:34 |
The world has changed since then, back in 1977 most people still shopped daily, super markets didnt need massive carparks because not all families had 1 car let alone 2, most people shopped for what they needed that day or at the most 2 days. Some would buy their tins goods from Kwiksave meat from Tesco and than cheese from BHS. If your tesco's or kwiksave was a bus ride away you'd still use your local shops. Obviously work was done and presentation became an issue, no longer did a mountain of baked beans looked so appealing because they had a penny off that week. The layout of shops changed like the lightling, flooring so on. Introduced household products, soft furnings, and a clothes range for all the family. So it began you'd nip in for a loaf of bread and spend 2 hours and £50.00 |
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JustJohn | Report | 3 Oct 2013 09:46 |
I think the statistic that will worry Phil Clarke and his team at Tesco most is a drop in like-for-like sales in the UK of 0.5%. Doesn't sound much, but that is a key indicator of the underlying business. Particularly when Sainsbury have increased by 2% over same period. |
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JustJohn | Report | 3 Oct 2013 09:59 |
Hayley. Retailing was so very different back then. |
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RolloTheRed | Report | 3 Oct 2013 10:34 |
There used to be a pleasant grocer called Greggs ( not the pasty n pie people ) which Sainsbury took over and expunged despite promises to the contrary. |
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Silly Sausage | Report | 3 Oct 2013 10:55 |
I worked for Liptons John |
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JustJohn | Report | 3 Oct 2013 10:58 |
Now that really was twaddle, Rollo. |
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JustJohn | Report | 3 Oct 2013 11:21 |
Hayley. Had forgotten Liptons. Lovely shop - there was one in Wolverhampton about time you would have started. Also Home & Colonial were good. |
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RolloTheRed | Report | 3 Oct 2013 11:39 |
Possibly at some point Tesco and even JS may demerge if the objective is to maximise shareholder value. It worked very well for Cadbury/Schweppes. |
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OneFootInTheGrave | Report | 3 Oct 2013 12:05 |
Tesco, Sainsbury, Waitrose. Asda, Morrison's and others - with all their advertising, artificial decorations, price promises, and promotions, will never replace the quality and service that you got when you were able to shop for all your food on your local High Street. |
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Renes | Report | 3 Oct 2013 14:54 |
I think this makes interesting reading |
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JustJohn | Report | 3 Oct 2013 21:10 |
Sir Terry Leahy has trodden on a few toes in his career. and I suspect your blogger was one of them, Renes |
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