The Conservative Party

Brewster's millions said:
Or as an alternative explanation (i) Tesco took an exceptional billion pound impairment charge in 2022/23, which dropped out of this year’s accounts (ii) the BBC reported the wrong profit figure, either because they’re useless or wanted to create the misleading impression of a surge in profits, and (iii) people on here couldn’t wait to pontificate over an incongruous rise in profits on the back of a meagre rise in turnover.
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Even allowing for a one billion pound impairment charge the increase in profits is still significantly greater than the increase in turnover.
 
East Level 2 said:
Even allowing for a one billion pound impairment charge the increase in profits is still significantly greater than the increase in turnover.
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I agree with the argument that supermarkets should be taking a hit with the rest of us, rather than increasing profits.

However, supermarket profits are always going to fluctuate a lot more than turnover. When margins are just a few percent, they can easily go up and down by seemingly disproportionate amounts.
 
Feels like the media is doing the look over there and looking for other stories so we don't question what's going on with this wragg business and the lack of bottle from Sunak over it.

The whole affair stinks of the Tories protecting themselves over national security.

No doubt Tory K will give us the official Tory party version of events on Sunday then call Rayner a greedy tax dodging cow.
 
East Level 2 said:
Even allowing for a one billion pound impairment charge the increase in profits is still significantly greater than the increase in turnover.
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Cost of sales fell from 92.6% of revenue to 92.15%.

Hardly seems like rampant profiteering to me.

Effectively you’re giving Tesco less than 8p in the pound to buy all of your produce, handle all of the logistics and regulations, employ thousands of people, manage hundreds of properties and allow you to shop in a location that’s convenient to yourself.

And the bastards have got the cheek to try and make a profit eh?
 
East Level 2 said:
Does that apply to those working a full week? If so then the minimum wage needs a serious rethink. If it applies mainly to part-time staff then it's hardly a surprise.
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I've just done a quick calculation and I think that with the new minimum wage, you would have to work 41 hours a week to not be eligible.
 
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