Tesco's profits

[crabbycanary 2]

Tesco has reported a 6% fall in group trading annual profit of £3.3bn as it continues to lose market share to discount rivals.

It is the second year in a row in which the supermarket has announced falling profits.

Tesco said its like-for-like sales, which strip out the effect of new store openings, also fell by 1.4%

But the fall is not as bad as many analysts had expected. Many had forecast a fall of up to 10% to £3bn

Surely £3.3bn profit is still a very good thing , isn''t it?

[Herman 9,779]

Their profits are down because they gave their hard working shop floor staff a well earned pay rise[:|]

[Joanna Grey 0]

I would suggest that the GBP have got wise to some of their practices and are taking their business elsewhere.

[Herman 9,779]

Now we just need to get wise to Amazon''s practices before they wipe out all remaining competition.

[Willmeister 35]

Exactly Herman. I refuse to shop at Amazon now. They bully their staff, suppliers and any competition and after years of under cutting any rival and forced them out, have now raised their prices as they can charge what they want. I buy all my music from true independent retailers.

[Herman 9,779]

I try to use other people, but sometimes their prices are so low that it''s impossible not to use them. Music I will buy from the smaller dealers as there isn''t that much difference anymore.

Don''t forget Record Store Day tomorrow. Should be some good rarities/extras on sale.

[crabbycanary 2]

quote user="Willmeister"]Exactly Herman. I refuse to shop at Amazon now. They bully their staff, suppliers and any competition and after years of under cutting any rival and forced them out, have now raised their prices as they can charge what they want. I buy all my music from true independent retailers.[/quote

Isn''t that true of all ''Big'' retailers, no matter what field they are in? (obviously cannot verify the staff bit) Isn''t High street retailing heading that way?