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The advert is not as it is because of political correctness. It reflects the inclusiveness values of the company and reflects the customer base and make up of the UK. I will accept your comments when Santa Claus is depicted as black and female.
Time to sell a few me thinks..
Well this gained 2p and a 9p dividend since the saye came out .
Mark’s n Spencer’s is up nearly 50% from its 95 low a benefit of Debenhams closing no doubt as same kinda people that shop there.
My little bit of diversification in the market is massively paying off compared to this sleeping giant. But I guess it’s safe
I think we have to give the new guy time to make his mark.I will be the first to agree if you are proved correct.
Arrghh the advert. Personally I hate TSCO's right on woke ticking very single minorities checkbox advert. Politically Correct police out in full force. It's so patronising and whoever talks about a "naughty list" at Christmas. Also "naughty" has negative connotations and as such should never be used in marketing. John Lewis and Amazon have the best adverts this year. Having said all that, TSCO's ad is way better than SBRY's adverts which are truly painful. Just my opinion.
...except that the share price is up and the other sheep supermarkets have followed TSCO's lead in doing the "right thing".
Exactly right.
We shareholders were the victims when the top management at TSCO reported a timing issue over recognising profits and were fined millions , the share price more than halved and Warren Buffett decided thatthe plc was being run by a band of clowns. None of the directors suffered any loss , leahy left with millions and started up in competition and the criminal case run by the FSA against the plc failed . So we're back to the same incompetence... the Board trying to be seen as good citizens when it is having the opposite effect....shoppers will not change their habits and change loyalties to TSCO .
Instead all TSCO is doing is driving the share price down and cheating the shareholders. Plus ca change.. plus le meme chose,
TSCO have said thank you, but , no thank you to the government. I now expect the same sign of good will and manners from the government to say " No thank you" and for TSCO to keep the money for all their hard work arranging deliveries etc and assisting in keeping the country fed during lock down`s. So the Business rates relief ends up as:
"Thank you, but , no thank you, but thank you" It is at this point when us shareholders can turn up and say: Since no one feels worthy of receiving this money, we will and bye the way: Thank you.
A perfect post, Rosewall, and nothing to really add to that. I was a bit skeptical of why this happened at first, but I've now put that down to my inexperience with investing and business - this seems like the perfect play now, and clears Tesco's name when the next profits come in and investors get dividends. The gauntlet was thrown down by Tesco, and this sets an example for their competitors, as well as proving to be in a strong market position to attract future investors.
The only way is up now, with a bit of luck.
Edgasket
"Look do we live in a communist state where all profits have to be returned to the government? What about the risk I took investing in Tesco through the pandemic? ................. Are the government giving me money back that I lost?"
As ever, a load of nonsense. The relief was not a gift, it was a life belt. In the end, the company was resilient enough not to need it and offered to pay it back just as HMRC were looking at penalties. Remember, there will be a lot of small businesses and self employed people out there who will be hammered with a tax bill and penalties in the coming year or two for taking grants when they were not required - look at the HMRC small print.
As for being communist, yes, you are right. However, Tesco are a grocery business and accepts the risks that goes along with grocery businesses. You are an investor and you accept the risks goes with that. Covid and Tesco is outside the spectrum of risks. You being wiped out on some shares is just part of what investing is all about. Lots of investors have made money out of Covid and have taken the opportunity to buy cheap. If you haven't then that is that is down to your poor judgement and timing.
Tesco have avoided any profiteering at tax payers expense penalties. They have headed off this threat from HMRC, taken the moral high ground and shafted the competition. Not a bad day's work.
Remember, Tesco has had experience of falling foul of HMRC in the past - the share price has nowhere near recovered from that bruising. Can you imagine the media if a firm with a track record of fraudulently misrepresenting their accounts then run foul of HMRC again? Fancy being fined another couple of hundred million?
I am assuming that the repayment will not be in one lump and that it will be spread over a small number of years.
Moonman
By the same token, most banks have not paid 2019 dividends due to 2020 Covid. If a bank paid out dividends and then asked for public money to bale them out the end result would have been a bale in. The dividend is for a previous year but that is not the point. It is the BoD's responsibility to steer the ship through choppy waters and I think that, taking everything into consideration, they have done the right thing for the business.
OK remove Aldi of the subject on business rates, but rest of post stands.
Good to see a couple more companies doing the right thing, but will the budget stores Aldi/Lidl do the same.
The pressure is on them, but it may well be more difficult financially, the big 3 to date can to a certain degree weather the additional costs incurred, due to stronger sales and store covid friendly adaptation, the 2 budget companies had a far more strict low base of staff and operational costs and therefore all extra staff and store adaptation would of incurred a bigger financial impact to them.
I would also like to give a mention regarding Tesco's Aldi price match advertising, this has long been over due and the company is at last seeing the benefits, however like for like increase has been difficult to compare due to this starting just when Covid hit and shopping habits changed , the Xmas adverts are fantastic this year and Tesco advert is been seen wildly as one of the top ones, it is current, humorous and very cleaver using slots and individuals from I'm a Celebrity.
In my opinion on adverts.
Tesco. best xmas advert.
Sbry, Flat and controversial gravy bore.
Asda, cheap and awful and predictable mixed race family.
Morrisons, no thought and imagination, same as previous years.
M&S, same format, just different voices.
Aldi, the carrot theme is at it's end predictable.
Lidi, oh my god don't get me started on this appalling, ear crunching total piece of ...t.
Morrison and Aldi too
Just seen that Sainsburys have also decided to follow suit. So probably by the end of next week the grocer that has not offered to pay the money back will be the odd one out.
Tesco have avoided the headlines and wide public disapproval of paying a vast 50p dividend after accepting public money. It's also conceivable a public hearing would have been made that would also serve as bad press. The law and details may well be on Tesco's side to keep the grant, but the mainstream view will only see one thing, a vast payout to shareholders built from government aid. Tesco's have pre-empted the scandal by declaring this now before the Asian sale dividend is scheduled.
Now do the right thing and hand your bonus back,
Also nothing like shooting yourself in the foot..just when it looked like a steady rise to 230 area oh well back to the drawing board
Looks like we’re going 24 hours from the 14th to Help spread the shoppers out over chrimbo
Eaten bread is soon forgotten
Some nice big'afterbhours' buys showing someone has confidence it TSCO ..
This is the business that was hurt by pandemic and was lucky not to fold. These idiots know they got bad loans on the book and how much the petrol, mobile and cloth departments had suffered. Just look at the news, retailers with active online sale are going down. There was no need to return the money when Tesco needs it. For heaven’s sake Pound is a reserved currency and Government doesn’t run by our tax money. Government won’t go bankrupt if they are short of money. Board’s decision would have made more sense if we could not print our own money like EU state countries or our national debts were in form of other currencies.
These actions just play into the hands of online retailers and foreign domiciled competitors, who either don't pay business rates at the same level or can minimise their Corp tax. Consumers will head for the best value and leave these nobel businesses to suffocate themselves. Just look how much tesco pays in debt interest and Corp tax on top of these rates. Tesco needs the money to reduce debt not to give to me as an investor.
Morrisons have just issued a RNS confirming they are goung to pay 2020/21 business rates in full and pay a special div. of 4p to shareholders.
Ccc.
Great Post sums it all up the others will follow like sheep no more to be said.
To all.
Look around at the high positive comments Tesco is receiving.
To many here are only looking at this news as a personal financial one and not the company business decision, which in there view is the right thing to do morally correct in the circumstances.
The company has lost out in the short term with the additional costs, however the long term gains from this announcement and the favourable headlines received throughout covid will do the company very well, i have no doubt.
I am an ex employee and know that stores in my region are trading very well at this stage of year.
Some customers are quite savvy and have no particular loyalty, but any company doing the right thing gets recognition and footfall will increase further.
The other supermarkets have been outdone by Tesco today, the pressure will be on all of them to follow, those who don't may live to regret it.
Could never see any politician or member of the public objecting to the money being kept by the company. The additional staff employed by supermarkets will eventually be returned in kind through tax on their wages by staff not relying on welfare. Simple economics.
Could have got better PR by using the money for community schemes. Food banks for example.
Well said EdGasket !