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No it isn’t and here’s why.
1) Costs for Covid19 and feeding the nation, hiring staff, more staff, extra wagons etc totals some £900m.
The rates abolition for 12 months the govt gave Tesco, and all other retailers too, comes to £585m for Tesco. https://twitter.com/andrew_adonis/status/1248117680260997120
1) Costs for Covid19 and feeding the nation, hiring staff, more staff, extra wagons etc totals some £900m.
The rates abolition for 12 months the govt gave Tesco, and all other retailers too, comes to £585m for Tesco. https://twitter.com/andrew_adonis/status/1248117680260997120
2) The dividend announced yesterday is for their turnaround being complete. 2015-2020.
Investors, colleagues and everyone else had invested in the business for a number of years and have seen little return.
Investors, colleagues and everyone else had invested in the business for a number of years and have seen little return.
3) The Tesco year end was 29th February. Before covid19 even became an impact for the UK.
4) Any profit growth Tesco get will be paid for via corporation tax (c.23%) in any case. They’re paying VAT (not deferring) and haven’t furloughed staff.
5) Sales have been strong in March for all retailers. But it’ll be on food, not non food, or clothing, which is lower margin anyway.
6) We’re now slating businesses that merely weeks ago, we were saying were heroes and as important as everyone else in the fight against Covid19.......
