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Nadeem
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Joined: 11 Jul 2004
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 Posted: Mon Aug 29, 2005 2:18 am Post subject: TSCO - TESCO - Discussion Thread |
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Discuss news and views on TESCO here
Tesco's UK market dominance merits government probe, says Wal-Mart CEO - report
Tesco PLC's growing dominance of the UK grocery market should be investigated by competition watchdogs, according to Lee Scott, chief executive of US retail giant Wal-Mart, which owns UK supermarket group Asda.
'I am sure there is a point where the government is compelled to intervene, particularly in the UK, where you have the planning laws that make it more difficult to compete,' Scott told the Sunday Times. 'At some point the government has got to look at it.'
Scott's comments came after market researchers TNS said last week that Tesco's share of the UK market rose to a record 30.5 pct over the last three months. That put Tesco at the top of the UK supermarket league, with Asda in second place with 16.7 pct.
Tesco said there was no justification for a competition probe.
'Previous Competition Commission inquiries have found that the market - and Tesco - operates in the consumer interest. It is a competitive market. The consumer is the winner,' Tesco corporate and legal affairs director Lucy Neville-Rolfe told the Sunday Times. |
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Guest
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| Posted: Mon Jan 16, 2006 9:36 am Post subject: |
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| What do people think about £5k investment in tescos ? |
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cardjunkie
Professional Investor
Joined: 24 Jul 2004
Posts: 311
Cash Points ££ 2248.20
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| Posted: Tue Feb 21, 2006 7:35 pm Post subject: |
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| Anonymous wrote: | | What do people think about £5k investment in tescos ? |
That would depend on what is £5k of your portfolio if its 1% then thats okay if its 50% then its too much !
Personally I would not put more than 2% in Tesco's
Latest news is taht they are looking to expand into the US market which is very competitive ! |
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Wade
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Joined: 17 Feb 2005
Posts: 185
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| Posted: Sun Apr 16, 2006 12:57 am Post subject: |
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| There could be a big boost to tesco share price as its been considering a move of all of its property into REIT, the new property investment trusts, so will likely save a lot on tax. |
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Quinn
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Joined: 06 Feb 2005
Posts: 181
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| Posted: Mon Apr 17, 2006 1:05 pm Post subject: |
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| Wade wrote: | | There could be a big boost to tesco share price as its been considering a move of all of its property into REIT, the new property investment trusts, so will likely save a lot on tax. |
yes, and you will find that the stock has already moved to take account of this  |
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| Posted: Sat May 13, 2006 12:01 am Post subject: Interesting article on Tesco |
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Far from being cowed by the pending OFT inquiry into the UK's 'big four' grocers, Tesco - the biggest of them all by far - is aiming to expand aggressively. In an exclusive investigation, James Hall reveals that Tesco has submitted more than twice as many local authority planning applications as its nearest rival
The extent of Tesco's determination to strengthen its position as the UK's largest supermarket has been laid bare in an audit of planning documents conducted for The Sunday Telegraph.
Tesco, which last week reported a 17 per cent rise in full-year pre-tax profits to £2.2bn, has applied to local authorities across the UK to build 90 new supermarket developments and extend 56 of its existing stores, adding millions of square feet to its portfolio and increasing the acres of land occupied by Tesco by a fifth.
Tesco's total of 146 planning applications is well over double the number of applications submitted to local authorities by its rivals. J Sainsbury, the UK's number two supermarket, has applied to build or extend 61 stores; Asda, the chain owned by Wal-Mart, the world's largest retailer, has submitted plans for 51 stores, while Wm Morrison, the fourth largest chain, has applied to build or extend 27 stores.
Included in Tesco's applications are plans to build thousands of homes - including 1,315 student flats in Glasgow, a cinema, a football stadium and a Primary Care Trust Unit.
Although such developments are normal practice under so-called Section 106 agreements, which allow supermarkets to fund a council's environmental improvements when a store gets the go-ahead, their scale reveals the extent of Tesco's property ambitions and its hunger to open new space.
The retailer's market share of 30 per cent is already almost double that of its nearest rival. The combined space of its proposed new developments is an estimated 5.5m sq ft, equivalent to 20 per cent of Tesco's total UK floor space, although not all of this will be used for retail purposes.
The massive volume of sites under development and owned by the supermarket groups, and particularly by Tesco, will form a central plank in a new Competition Commission investigation into the grocery sector, which is expected to be announced by the Office of Fair Trading in the next few weeks.
A spokeswoman for the OFT says that the "primary reason" for the investigation is to look into the issue of how retailers acquire and develop land.
The investigation follows a groundswell of opinion from pressure groups and the public that Tesco has become too large and is turning every town into a "Tesco Town". One pound in every eight spent in British shops is spent in Tesco, although in Inverness, where Tesco has three stores, this figure is 51p in every pound.
The Commission is likely to review the rules that govern store openings. Under current guidelines, a retailer keen to open in a particular town must simply prove that the location needs a new supermarket. The national market share of that supermarket chain is not taken into account.
The Commission will also take a close look at the controversial issue of "land banking" - retailers' supposed practice of buying vast tracts of land merely to thwart rivals from opening on them. Friends of the Earth, the green pressure group, estimates that Tesco's market share could rise to 45 per cent if it built on all of its land banks.
The OFT claims that supermarkets own a combined total of 319 sites in land banks and options over a further 149 sites. About 70 per cent of these are thought to be owned by Tesco. However, Sir Terry Leahy, Tesco's chief executive, denies this.
He told Radio Four last week: "We don't have a land bank. There is no such thing as a land bank. Tesco is a growing business. I think that anybody can appreciate that you need to buy land ahead of developing a store. All the land that we have is in some stage of development for a Tesco store, here and around the world." He added that that one store in Bury St Edmunds took 17 years to get planning consent.
James Lowman, a spokesman for the Association of Convenience Stores, says that the Commission needs to come up with robust recommendations "if we are to see a diverse and vibrant grocery market, rather than the dominance of the biggest retailers as we see today".
Meanwhile, Danny Alexander, MP for Inverness, Nairn, Badenoch and Strathspey and a close associate of Gordon Brown, says that he is "very concerned" at Tesco's dominance in his constituency, particularly as it is trying to open a fourth Inverness store.
A Tesco spokesman says: "Tesco is only looking to open so many stores because it is a growth company. The key thing is that others can pursue as many planning applications as we can if they choose to."
The spokesman adds that Tesco often builds affordable housing near new stores as it is in great demand. But he scoffs at the idea that Tesco is slowly becoming a major property company. "We have no particular ambition to be anything other than a retailer."
But figures in the property industry say that Tesco is unrelenting in its acquisition of sites. Tom Macartney is chief executive of Sunderland ARC, a regional development company that is currently locked in a battle with Tesco about the redevelopment of Sunderland's former Vaux brewery site.
"There are very few people who go into battle like this and Tesco is one of them. On one level they are very focused - they are not the top retailer for nothing. But there is no compromise with Tesco and that is how they have succeeded in getting planning applications up and down the country," he says.
However, analysts point out that Tesco is too financially prudent to buy land and do nothing with it.
"It doesn't stack up. The idea that somehow Tesco is buying land, particularly at current prices, for the sole purpose of preventing other retailers from operating is ludicrous," says Simon Proctor, an analyst at Charles Stanley, the stockbroker.
"When you are gaining market share organically why would you want to drive down your returns on capital - which you would do by buying land that you don't use and therefore get no return from? It makes no sense," he says.
A former property director from one of Tesco's "big three" rivals says that the issue of land banks is a myth. "Supermarkets do buy land, but they buy it with a view to getting it through the planning process at the earliest possible date. They are not sitting on vast land banks of site. There is no mystery in this," he adds.
Tesco is also fuelling its growth by aggressively extending existing stores. Although Leahy said last week that Tesco will open 130 more small Express outlets in the current year, much of Tesco's growth will come from continuing to open large superstores and extending existing stores into its Extra hypermarket format.
Research released last week by investment bank Citigroup, said that Tesco's migration to larger Extra stores means that it is going through the "biggest restructuring of UK retailing".
The bank points out that in 2001 Tesco had just 9 per cent of its space in Extra hypermarket stores, with the remainder in smaller stores. By February 2008 the Extra format is expected to be the biggest part of the UK business.
"Tesco is very quietly converting itself from a superstore business to a hypermarket one in the UK. This is analogous to Wal-Mart's conversion from a discount non-food retailer to a supercentre operator in the US," the bank noted. |
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Wade
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Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
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| Posted: Sat Sep 23, 2006 3:51 pm Post subject: |
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Thailand stops tesco ! - interesting article in daily telegraph
Supermarket chain Tesco is in crisis talks with the Thai government as it attempts to see off proposals that could scupper ambitious expansion plans. Thailand is Tesco's third largest market in the world – after Korea and the UK – generating sales of just under £1bn a year and the retailer had planned to open 170 new stores in the country this year.
advertisementBut Thailand's ministry of commerce plans to block international retailers until rules and regulations have been put in place to protect small shopkeepers. The move follows a campaign by small shopkeepers in Thailand who directly lobbied King Bhumibol Adulyadej and staged protests against the government, which is facing an election in November.
Deputy commerce minister Preecha Laohapongchana met international retailers including Tesco and Carrefour this week and asked them to sign a voluntary agreement that would freeze expansion until new rules were drawn up. The retailers are understood to have refused to comply.
"We are waiting to see the details of the proposals," said a Tesco spokesman.
More.... http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/15/cntesco15.xml |
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Quinn
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Joined: 06 Feb 2005
Posts: 181
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| Posted: Wed Sep 27, 2006 2:01 am Post subject: |
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Wade some more news on whats going on in Thialand -
Thailand's ruling military council has warned Tesco and other major retailers that it intends restrict their expansion plans.
advertisementNearly a dozen Thai and foreign retailers met the military council yesterday to discuss a "voluntary" agreement to suspend expansion plans - drawn up by Thailand's commerce ministry before this month's coup. The meeting is understood to have ended without agreement.
Lt-Gen Palangkura Klaharn, spokesman for the ruling Council for Democratic Reform Under Constitutional Monarchy, was quoted in Thailand as saying the council was considering drafting a law to regulate the retail sector.
"The restrictions look very onerous, but it seems increasingly likely that we will have to sign," admitted one international retailer who attended the meeting.
Thailand is Tesco's third largest market in the world – after Korea and the UK – with the 200-strong chain generating almost £1bn of sales a year. The retailer had planned to almost double in size this year opening 170 new stores.
Scrapping the store opening programme would be a blow for Sir Terry Leahy, Tesco's chief executive, who has expansionist ambitions.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/09/27/cntesco27.xml
Does not look good at all ! |
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Wade
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Joined: 17 Feb 2005
Posts: 185
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| Posted: Mon Jul 30, 2007 2:13 am Post subject: Bomb Threats |
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THE alleged bomb hoaxer accused of a £1million blackmail plot against Tesco supermarkets is a former VAT officer and part-time college tutor.
Philip McHugh, 51, of Milton Avenue, Clitheroe, was arrested by police following the closure of 14 stores across the country, including the branch in Clitheroe.
There was also an alleged threat to the Tesco in Centenary Way, Burnley.
advertisementNow the Lancashire Telegraph can revealed that McHugh is a former Blackburn VAT officer and part-time photography teacher at Nelson and Colne College.
And in 1995, whilst living in Burnley Road, Accrington, he won £3,000 damages following a legal dispute with the News of the World over false allegations that he was interested in "spanking."
Two investigative reporters posed as photographic models and ran an article accusing him of exploiting women.
He spoke of his two-year nightmare after the article had been published.
But he said the money would not compensate him for losing his career, his home and his health following the article.
more - http://www.thisislancashire.co.uk/news/headlines/display.var.1579186.0.tesco_suspects_lancashire_past.php |
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