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Thank you all for your responses regarding my post.
Pokerchips.
Ah the 1990s, hope you were not one of the few store managers who did the early morning store inspection and with one stroke of an arm swiped the products of the shelf because products were not in line as per presentation.
I adopted the backroom/warehouse delivery product group breakdown on all grocery products, i started this process in 1980, and helped roll it out in Kent, Sussex and Surry, i called it the "horseshoe" method, this saved so much time for the Night/Twilight boys& girls on the sales floor having just the items per section, this also keeps the cheeky ones from wondering around taking others their stock for a quick chat, it also allowed me to see exactly how much stock to be worked in any one area and a appropriate time to achieve the task.
In my latter years i started the A.R.M. information document recording all previous absence history and decision making for easy and quick review, this took the poor personal staff weeks to do all staff in each store, but it was well worth it as it enabled managers full back ground history and helped with making the correct decisions, again this was rolled out to other stores.
My nemesis was always Stock control, never good get the levels right lol, and then the dot com crew at 4am/6am, they came onto the shopfloor like a bunch of raging bulls, perfect filled and presented ailes became no more.
Great day's, great memories, great Company and best of all i meet my wonderful wife on the Jam section.
Thank you CCC for your very informative post, we must congratulate all Tesco employees on their remarkable work especially during these uncertain times. The future looks good for Tesco!
CCC, as a Tesco lifer approaching 31 years very nice to read your post !
Chinch,
Agreed. If the homeworking takes off, and there very big question marks over this as there are concerns over colleagues mental health, then I think that Welwyn and Dundee could well absorb more of Booker's administration thereby saving on accommodation costs elsewhere.
It would require a massive change in the processes and mindset but certainly doable.
Totally agree Pokerchips. I see what goes on behind the scenes day in and day out. As you say, it is hard graft. Far harder than most on this board can even imagine.
Yep ditto all those posts and very well worded, nice one !
This morning's paper coverage is all about how come Tesco can still be paying dividends when everyone else is cancelling them to save money because of Covid-19. Why is everyone up in arms ???
How about looking at the company as an institution serving the British public during this pandemic, the trolly staff, the cashiers, the shelf fillers, the packaging team, the delivery drivers etc. all putting their lives on the line through their own choice.
Most of these staff don't 'earn a great wage and there are quite a few of them that participate in the company's share option scheme as well. By retaining the dividend helps them all enormously as they can have the option to also re-invest these dividends tax free back into the share purchasing scheme of the company.
Good on you Tesco !!!!
CCC
Thanks for sharing....I worked as a store manager in the 1990's and I can tell you it was b*loody hard work ...you could never take your eye off the ball for a second, such was the pace of the business.... long hours, very high expectations from customers , and as you say, not a great deal of understanding of what it takes behind the scenes ....we have created a world of expectation that is often well ahead of the realities that are trying to live up to that expectation.
In boom times no one really thinks too much about farmers, nurses, etc and that kind of thing ...the hard truth is that we all at times only appreciate something when we really need it
I remember in the 1990's it was a DIY boom and house prices were all the rage.....and buying £6000 kitchens and bathrooms in the hope the house value would go up £50,000...crazy time
Life teaches us that hard times help us keep our feet on the ground a bit and not to take all the basic things for granted ...which we all tend to do in boom and better times
Wonder how many of those Daily Mail trolls who constantly trolled about Tesco 4-5 years ago are now queuing outside to do their shopping
CCC
Thanks for sharing....I worked as a store manager in the 1990's and I can tell you it was b*loody hard work ...you could never take your eye off the ball for a second, such was the pace of the business.... long hours, very high expectations from customers , and as you say, not a great deal of understanding of what it takes behind the scenes
In boom times no one really thinks too much about farmers, nurses, etc and that kind of thing
I remember in the 1990's it was a DIY boom and house prices were all the rage.....
Life teaches us that hard times help us keep our feet on the ground a bit and not to take all the basic things for granted ...which we all tend to do in boom and better times
Wonder how many of those Daily Mail trolls who constantly trolled about Tesco 4-5 years ago are now queuing outside to do their shopping
Yes, Asia sale means that obviously that business will not contribute to profits or earnings , and any increase in its value will reflect on the new owners....the SP will obviously fall by the value of the special dividend..as that money is no longer in the business.....some of the sale is being used to pay down debt and if so, that will help the company credit rating I would have thought
Central Europe economy depends a lot on the likes of the German economy...if Germany sneezes, Central Europe catches an economic cold
Target 290 this year
I really enjoyed reading this, thank you for sharing.
One of the bests posts i have seen on all sites
My whole working life was dedicated at Tesco, from a Part Timer at 16 years till reluctant early retirement at 50ish due to ill health, although i did not claim any financial retirement until 55 years old.
At 18 years old i held my first managerial position as warehouse manager and it was a little embarrassing to say where i worked in the early years, as time went on and Tesco became more successful and gained the number one spot, it became more attractive to be an employee, most of my career was night Store Manager ensuring the store was fully replenished for the next day trading, whatever store i worked at, i had a great motivated team supporting me, my stores were often regarded as examples for others to take on board and i had several training meeting to relay the best practices within the region i was based, although i got great satisfaction from the praise i received within store, i always felt customers never fully understood what went on behind the scenes to give a great shopping experience, then because the company was years ahead of it's competitors with it's success, quite a few became anti Tesco and you would often read only negative stories within the media, even with success, you will always have issues both with employees and standards, the companies over balance sheet statement also hit the company very hard, a massive mistake made by a few, but had repercussions for all the hard working staff and investors, to make matters worse the 2 budget stores become increasingly popular at the time of the financial crash and they both continued momentum as of today, but Tesco has always tried to deliver value and always supporting the local community, but still some negativity continued to plague the company, you see a lt of this with posts on all the Tesco BB's.
Although no longer an employee, it is a pleasure to read so much praise directed at Tesco ( and others ) for what they are doing and supporting others during this difficult time and the public are now understanding a little better what goes on and how hard all staff are working to keep customers safe and to get the products to as many customers as they possible can, it's not all play sailing but they are doing there very best.
A shopping trip was often regarded as boring and mundane experience and everyone just took stores for granted, today it's a trip out and you feel quite chuffed if you only managed to get 80% of your shopping list and to have a little chat with an unknown individual is quite nice.
I am in the camp of not bothered either way of having a S Dividend, nice if i get it, but if not and the cash is put more to use in supporting the company, the staff and more importantly the customers and in particular the vulnerable and needy, that's fine by me.
I fully understand that most here are investors and want the best financially, i believe the coming months will deliver increased trading year on year and the Aldi price match has yet to reach it's full potential.
Well done to everyone at Tesco. The BOD has increased the div, the staff are working really hard and the shoppers keep shopping!! Still a long term hold at this point for me and look forward to the div and special div. Fund managers should be jumping into a Tesco because of this.
I would expect the lockdown to be extended at least until the end of a April so still taking business off the hospitality industry. Agreed extra costs involved but just have a feeling the way that most shop will change to online. In fact lots of things may change like working from home so do we still need offices? Companies will have to start reigning back cost so making people work from home if they can could be a way of doing this.
That the divi has been paid, it would have been a kick in the gonads if it wasn't. Tesco and all supermarket workers have done a great job in keeping us fed in these ongoing troubled times.... working amidst all this cannot be easy. I salute you and thank you for your efforts which are very much appreciated.
Wrong the closing price was on the up at 22.90.
Explain why my partner queued for 90 mins this afternoon along with hundreds of other shoppers, incidentally she spent £150. The lockdown boosts profits!
another cancelled trade
-817k was a cancelled trade from earlier in the day
Fell off a cliff after hrs..213.90!!!!
Just to clarify the previous post, Tesco have stated it's a special dividend.
EPS though would take a bit on those earnings no longer s part of the group?.
Buy
817k sale?
222.90.