FairwayDodger
Money List Winner
I think we should be told!
Tesco loses £6.4 billion
- Thread starter Tongo
- Start date
I think we should be told!
ger147
Tour Winner
I wish someone had said before, my wife goes there every Friday.
Am I in trouble???
Tarkus1212
Challenge Tour Pro
The financial watchdogs might be getting excited. Tesco claiming that their property portfolio has fallen in in value at a time when property prices are rising. Does that mean that they have been overvaluing their property portfolio in previous years? I think that's called false accounting and is decidedly against the law. Plenty for Plod to investigate at Tesco House, this story isn't done yet.
MegaSteve
Tour Winner
Foxholer
Blackballed
No. They've been setting a value that having that, or any, particular store is worth - which includes the value of the site, building and footfall. With decreased footfall, the store is not worth as much. All this is done using standard formulae and is verified by Auditors. It's also been done by other supermarkets - Morrisons, Sainsbury et al.
Perhaps you should set aside the bitterness of the 5 years you were employed at Tesco!
Tarkus1212
Challenge Tour Pro
Got made redundant again 3 months ago because of Tesco's dodgy accounting - if I'm bitter I think I'm entitled
Doon frae Troon
Ryder Cup Winner
I thought the SNP supporters were boycotting them [and a few others] due to suggested price increases if Scotland gained independence.
I just assumed the price increases would be for the additional pay to their staff as SNP were promising a higher minimum wage.
FairwayDodger
Money List Winner
That explains why I hadn't heard about it!
Doon frae Troon
Ryder Cup Winner
It was not one of their finer moments:lol:
Smiffy
Grand Slam Winner
Point taken on the Chickens. But have you tried injecting milk????
SocketRocket
Ryder Cup Winner
I dont understand why this should be a problem to their profits? They either rent or buy property, if its rented then the rent is a liability and an overhead cost, if they purchase it then it's an asset that gets depreciated annually until is completely written off for accounting purposes, this is surely a value set at the price of purchase. How would undervaluing it help them other than reducing the value of their assets which in it's self doesn't create profits.
I may be missing the point though.
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S
Snelly
Guest
No but they (and others) are the primary reason that our national diary herd is falling (by 40% over 20 years) and this is not sustainable. It won't be long before the norm is supermarkets buying cheap milk from overseas to undercut British farmers further as the market globalises. This would be tragic. We were once a great farming nation and totally self sustaining.
Smiffy
Grand Slam Winner
I know we were.
But we used to pay through the nose for a pint of milk and a roast dinner on a Sunday was a very rare treat.
SocketRocket
Ryder Cup Winner
That must have been some time ago Snelly. We weren't in WW1 and WW2 as the german E-Boat campaign was aimed at stopping food imports and starving us out.
Foxholer
Blackballed
This was certainly my thought too! Though I believe it was the U-Boat campaign - something about E/U that was, and maybe still is, a problem?
Rationing of food - meat and cheese - was still going on in 1954!
S
Snelly
Guest
I meant for the things we farm.
On a similar note Sainsbury's have announced job cuts, mainly in management (middle mangers mainly - whatever they are). Clearly they have issues too about profitability.
