TESCO profits down (:'

[eastern]

At last the mighty TESCO wobbles, this is the best news I have heard in weeks. The higher up the ladder you climb the bigger the fall, Aldi up 40%-Lidl up a similar amount its good to see the smaller companies giving the bigger corporations a bloody nose. As TESCO's advertising says "every little helps".

[buildersmate]

Eastern
Share price has little to do with the reality of how the business is actually being run real-time and everything to do with perceptions. This is an overdue market correction from a business whose share price has risen dramatically that a small piece of bad news has had a dramatic impact.
Since when has it been unlawful to open more than one shop of the same owner/type in one town?

LJ - how amongst your fanciful ideas do you think Tesco can run a national pricing system including nationally-offered 'special and not-so-special offers' yet cut the price locally to put other local retailers out of business? Answer: they can't. Any price discounting to put others out of business has to be done at a national scale. Possible, but extremely high-risk and expensive.

[boxtops]

why is it good news? Some of us like Tesco (there was a similar thread last night) - now that Tesco are dropping their prices to be competitive.

I'm sorry you've been personally affected, but some of us don't have time to do High Street shopping, I have to shop and go, and Tesco (or Aldi, or Morrisons) fit the bill for us.