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Yup, Tesco is dying. Death by a thousand cuts.
The North American biz is gone. The Asia biz is gone. The UK biz is in going.
Aldi and Lidl are killing Tesco (and all the other major British brands) in the UK. Fifteen years of attrition and accelerating.
UK is going post-retail. Tesco today is like British Leyland from the 1970s. An inept British giant bumbling from one mistake to another and being thrashed by leaner German and American competition. It is toast.
Only buy Manuka honey and very expensive but nice.
Tesco (LON:TSCO) had its target price increased by Goldman Sachs Group from GBX 276 ($3.61) to GBX 280 ($3.66)
Bees are fed sugar during the winter to keep hives going , so it is possible a small amount of sugar syrup would be found in honey collected for bottling . Does anyone know the percentage of syrup that is being claimed to be in the honey ? We put sucrose out for bees in our garden when flowers are in short supply and during weather bad .
Looking at the 5 year graph , the trend is your friend and it certainly looks in an upward channel, and apart from one year in the last 5 it’s gains 50-60p in the new year . So hopefully a base at the 235 area and a good Xmas we can climb to 285 around may. The big danger is Aldi and Lidl as with the recent data and new stores ever eating away at the big 4. Stroke of genius getting booker but by god if we hadn’t we’d be around 180! Any thoughts as I’ll certainly dissolve 33% of my holding around 280
I was about to buy some Tesco shares. As part of my research I was in high Wycombe so visited the large store, to be honest it looked downmarket and lacking on stock. I was in the market for a simple mobile phone but the ones on display that I liked were out of stock. Now seeing your discussion on jobs I won't be investing. Thanks for your honesty.
Uncle Doug,
You have a point in terms of footfall. However, it isn't all down to Aldi and Lidl. There are staff shortages in most stores who do home shopping. An incredible lack of pickers and drivers even though agency drivers are often used. The service is creaking at the seams with many stores capping delivery slots. Still it limits the costs of this loss making part of the business. It isn't Aldi and Lidl who are causing the shortfall it is lazy customers hence the arrival of Clubcard Plus to get customers back in store.
Update from June. Looks like Tescos Corporate have £15bn to lend to the group. Who knows where the money will go. Tescos sold their mortgages to Lloyds.
Last June statement from treasury company here.
https://www.tescoplc.com/media/754718/tesco-corporate-treasury-services-2019-final.pdf
Dividends up but growth down.
Any comments on the £15,000,000,000. mentioned in RNS yesterday. I thought someone would have posted something by now.
Keep the Red Flag flying … …
Boom
So I see today that 10 executives on the board have received awards pending a good performance going forward in 2021 ( latest runs) roughly 400k-500k each a nice bonus to have guys and totalling almost £5 million . Now let’s see hmmm, what do the Ga’s in 2021 get bonus wise for working hard sticking with the company loyalty to save staff churn oh feck all ! Nice one Tesco bossses/board / committee/ union talk about double standards,it’s a case of we will keep ours and take away yours. Unbelievable
Uncle doug copying and pasting motley fool posts hardly constitutes an opinion much less a recommendation! personally on balance doing the opposite of what the motley mob recommend is the only influence i allow that site to have on my decisions. Tesco is a massive truck trying to make a turn into another direction,IT TAKES TIME... 27% market share compared to 6% is for the German discounters! Oh and any worries about EU sourcing post Brexit or pound value yada yada remember the discounters entire model consists of sourcing cheap Eu produce any "hiccoughs" post Brexit would seem to me liable to affect Aldi and Llidl MORE than Tesco but im just an old fool not a motley one.
The good thing about Aldi/Lidl competition is that my local Tesco is a lot less busy than it used to be - I can whizz round the aisles in no time, there's never any queues at the checkout and I get to park really near the entrance. The downside is their food like the current SP is overpriced.
I believe you matee- I work there and they employ bunch of looney Managers - dont have a clue and often they employ their friends and family -
According to the research house, while Britain’s supermarkets enjoyed a welcome return to growth in the 12 weeks to September (up 0.5% year-on-year), Tesco’s checkouts became that bit quieter. Sales there dropped 1.4% in the period, dragging its overall share of the market 0.5% lower to just below 27%.
Kantar’s latest release underlined the devastation the German discounters are wreaking on the former monopoly of the Big Four grocers. Sales at Aldi rocketed 6.3% in the three months while those at Lidl jumped 9.2%, in turn dragging its market share to record highs of 6%.
The likes of Tesco can expect the bricks-and-mortar disruptors to continue their stunning ascent beyond the near term too. For one, they are likely to continue on their programme of aggressive new store openings and site refurbishments well into the next decade. And in the meantime, worsening economic conditions in the UK look set to drive cost-conscious shoppers through their doors in ever-greater numbers as well.
Lol. My uncle worked at Tesco in the 1990s and told exactly the same stories of "jobs chaos" and "agency staff chaos" and "relentless staff turnover". Nothing has changed in quarter of a century!
Uncle was lucky to get in early, during the boom years. His cheap Tesco stock options were worth ~£200k when he retired.
Wouldn't want to work at Tesco now, though. Aldi and Lidl are crushing them in food, Amazon is crushing them in non-food, while the overseas business is in freefall.
I know how you feel, my wife is in the same situation at our local store, she tells me of the horrors of working there, fortunately, the silly contracts they offer work for her due to her ongoing education course, and looking after the kids.
I for one would not like to work there from the things I hear, I do think that maybe not investing in good staff will hurt them in the end.
Let's hope they fix this soon, I and my wife still continue to invest as they pay a dividend and Tescos are not going anywhere for a long time.
Have a good weekend.
Well they can have mine in 2years! As for people wanting jobs the vast majority of jobs on offer now are 14-25 hours a week 2-3 days they put them on flexible contracts so at a whim of 24 hours notice they’re asked to come in the following day as part of there contract they pretty much have too. So the staff turnover of newbies is huge , now my department has 10 people spread over the week of which7 are long term so can’t be pestered to do extra and to be honest no one does as we’re all ****ed off to be truthful. The other 3 shifts are newbies and we are lucky If they last 3 months last bloke lasted 4 shifts . So we have to train them up again and again which slows down the department and puts pressure on us well every week this year to be honest. Hence we ended up getting agency staff in at twice the price for 8 weeks to bail the night team out it was that bad.
There’s jobs but they don’t want part time or last the distance.
The interim is actually 2.65p...every little helps and is actually a 58.7% increase. The interim is around one third of what the final should be so expect around 5p+
Long term shareholders have lost a vast amount of their life savings , so a mere 2.6p dividend is a very small consolation to the share value they have lost over the past few years. Without the loyal shareholders there would be no business and you would be out of work . A lot of unemployed people would love your job and your wages . If you do not like the terms of employment , leave , and give these people a chance in life.
Interim is 2.6p “every little helps”
Tsco shares will be trading interim ex-div from 10 Oct 19 and div payable 22 Nov 19. How much is the interim div?
Picked —- pocketed!!
Well not a bad day then results up albeit slightly, drastic Dave’s off he’s picked his millions put countless people out of a job , stuffed the long term staff/ new with cuts to over time on bank holidays Sunday’s , got rid of the bonus. The minimum wage was £7.50 when I was on the till when we get to £9.30 the minimum wage will be £9 so if the union said no negotiations 5 years ago we’d still have double time , time and a half and a £600 a year bonus! Instead we’ve gained 20p on the minimum wage a cool £350 a year cheers Dave cheers the union .oh but what’s this the interim dividend rises 56%from 1.67 p to 2.65 a penny give or take so that’s another £95 million pounds to shareholders nice one drastic. Yet the double time to time and a half only saved £3 million pounds a year and p#ssed off 1,000s of staff.
Sorry rant over ....
Sales flat, LFL down slightly. Can't keep sacking staff. Will go down 10% from here.