Every little certainly does help, expecially if you're Tesco

21 April 2009

The UK's favourite supermarket has turned your weekly big shop into beellions. Seemingly the masters of alchemy, Tesco have today announced pre-tax profits of over £3 billion - a record for a UK retailer and, despite the recession, 10 per cent up on the previous financial year.

The company's total revenue was £59.4 billion, meaning consumers are spending over a billions pounds a week with them. However, the figures also illustrate the tight margins Tesco are working too - just 5p in every pound. Every little helps though, or so we've heard.

Tesco has warned however, that the second half of the last financial year saw a steep downturn in consumer spending, and that it was too early to predict the company's performnce over the coming twelve months.

Bitterwallet confidently predicts Tesco will continue to rake in billions - we put it down almost entirely down to their hypnotic yellow label offers, and no doubt you do too.

TOPICS:   Economy


  • The B.
    Not bothered, too many scumbags in there (staff & customers) to shop there.
  • Ian
    My congratulations go to the shareholders.
  • P E.
    thanks Ian :o)
    "shareholders" why? All they do is invest their money and take a calculated risk. They have no say in the management of Tesco.
  • James R.
    I don't shop there and don't agree with thier community strategies - without fail a Tesco 'local' is 20% - 30% more expensive than the independent grocery store it smashed. And, great to hear that they've fallen on thier arse in the States - Americans saw through the veneer a lot faster than we have.
  • swampy_donkey
    I don't understand why you all hate Tesco. No supermarket or company is perfect, Tesco have always given a half decent service and their loyalty scheme is the best of all the major supermarkets.
  • Mr H.
    P Enis get off my turf!
  • Ian
    RE: CRAIG, well that is a very pessimistic view of the role of shareholder, albeit in a neo-liberal capitalism model. My post was congratulating them on the return on their investment of course, not their efforts.
  • Jill
    James - then it must offer a better service (not that I think you figure is particularly accurate). If it really was 30% more expensive than other stores, people would go there instead. You seem to thing people are memorised by the Tesco branding when in fact, they just like shopping there.
  • Jack
    Yeah James - The Americans really do like to see past a great selection, and cut price shopping. No stores like Wal-Mart or anything over ther..........oh........wait a moniute - they have tons of huge stores like Tesco! I dont see the problem with Tesco - if people don't like the place and the prices they can go elsewhere, thats if anywhere else can offer the same value and choice.
  • Red
    ASDA are much better and cheaper than TESCO's. Better value and choice!
  • Theres d.
    Except jack, people cannot go elsehwere - the supermarkets have destroyed the "elsewhere", and many of us now live in a food desert.
  • TJ
    I don't get what all the fuss is about, a supermarkets a supermarket, they all sell the same stuff. Prices vary sure, in one supermarket an item may be higher or lower than the next supermarket. I just shop at whichever is the closest to wherever I happen to be.
  • who p.
    so thats how they afforded to pay for my holiday (via clubcard deals)
  • James
    Whoever hates Tesco must be in the extreme minority, or hypocrites, because if it were that bad, it wouldn't have just raked in profits of £3billion. It makes these sorts of profits for a reason surely, because people like to shop there. There's plenty of other places for people to go if they hate Tesco that much; Wilkinson, Lidl, Aldi, Sainsbury's, Asda, Morrissons, Somerfield, Costco, Coop, as well as some local butchers and greengrocers that are still around.
  • Lorraine P.
    Has anyone noticed how Tesco seem to be shooting themselves in the foot?. Or are they waiting for the population to notice the deliberate mistakes...makes you wonder!! Real BASKETS at TESCO. FnF range at Tesco. Spot anymore?

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