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15-12-18, 11:26PM

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Author Topic: News articles (2)  (Read 19648 times)

grim up north

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lackofinterest

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Re: News articles (2)
« Reply #76 on: 06-12-18, 04:28PM »
well there's a surprise....not! yet us peasants continue to get warnings sometimes leading to dismissal based on probability. as usual money talks!!! >:(

galictica

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Re: News articles (2)
« Reply #77 on: 06-12-18, 07:16PM »
The justice system is useless and the SFO are gutless. Tesco are still exaggerating their profits and sales. In my opinion increased sales is just a lie and covered up by increasing the prices of the majority of items for sale. Share prices continue to tumble. Down to 193.75 today but I'm sure some Tesco lover will say it's all down to Brexit and we are a wonderful company.

Welshie

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Re: News articles (2)
« Reply #78 on: 06-12-18, 08:17PM »
I would be interested to know if the number of items sold is up instead of monetary value of sales is up . I find prices have increased a lot but they've also increased a lot at Asda and Lidl .
Footfall is definitely down in our store .

alf

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Re: News articles (2)
« Reply #79 on: 06-12-18, 10:03PM »
Down to 193.75 today but I'm sure some Tesco lover will say it's all down to Brexit and we are a wonderful company.

https://www.thisismoney.co.uk/money/markets/article-6466723/Turmoil-London-stock-market-FTSE-100-two-year-low.html

galictica

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Re: News articles (2)
« Reply #80 on: 07-12-18, 12:53AM »
I agree the stock market is dropping but Tesco shares have dropped 27% since the 10th August this year and that's way more than average

alf

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Re: News articles (2)
« Reply #81 on: 07-12-18, 03:55AM »
And they rose 27% (a bit less, but I'm not getting the calculator out) between February and the  10th of august, that's life, win some lose some.

Realistically the shares have been dipping and rising between 200 for the last couple of years now, the current share price  is very similar (few pence out)  to what it was this time last year.

So yeah it's not good news, but it's not quite the sign of impending doom.

londoner83

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Re: News articles (2)
« Reply #82 on: 07-12-18, 08:47AM »
Can't see share price rising substantially until Brexit situation is finally resolved. Markets like certainty and at present we have no idea if we will be in/out or even if May will remain PM.

fargone

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Re: News articles (2)
« Reply #83 on: 08-12-18, 11:27AM »
Get some Gold and Silver, gonna be heavy s**t in 2019.
 

OvaSees

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Re: News articles (2)
« Reply #84 on: 08-12-18, 02:40PM »
When Dave Lewis took over as CEO of Tesco, the share price averaged at £2.36 for that week - that's after having dropped following the accounting scandal, the sudden departure of a CEO, the involvement of the SFO...

Whether you review the share price over the past one year, 2 years, 3 years since Cameron announced the referendum, 4 years since Lewis took over or even 5 years and thus well before Brexit was even a thing it has shown continual decline and trend downwards, as has market share at an average rate of -0.4% per year. No other retailer has the same record, this is unique to Tesco.

Of course there is intra-day, intra-week and intra-month variation, but the scenario at Tesco is scary - over those same 4 years since Lewis took over, everything since the £1.39 low to the £2.66 high has been nothing but a corrective move attributed to 'outside market influences'. There is no upward trend, Tesco's shares are making heavy weather of everything - they currently sit 6.44% lower than a month ago, 18.6% lower than 6 months ago, 5.4% lower than 2 years ago, 39.4% lower than 5 years ago... nothing to do with Brexit.

alf

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Re: News articles (2)
« Reply #85 on: 08-12-18, 04:50PM »
The accounting scandal was 3 weeks after lewis's appointment.

OvaSees

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Re: News articles (2)
« Reply #86 on: 08-12-18, 09:26PM »
It was not public until 3 weeks after Lewis' appointment but it was certainly going on internally well before then - the share price in 2014 was detrimentally affected by a series of profit warnings in the run up to the September announcement about overstated profits. It may not have been public but its effects beforehand were certainly dragging on the share price, only when it made headlines did it become apparent what the underlying cause of that 2014 performance was, which in turn ultimately contributed to the £6.4BN loss in 2015.

lordadmiral

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Re: News articles (2)
« Reply #87 on: 09-12-18, 11:57AM »
Can't see share price rising substantially until Brexit situation is finally resolved. Markets like certainty and at present we have no idea if we will be in/out or even if May will remain PM.
Current forecast for 2019 is between £1.60 and £2.30.  Few weeks ago analysts were predicting share price in range of £2.10-£2.80. Tesco need miracle to push share prices up.

alf

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Re: News articles (2)
« Reply #88 on: 09-12-18, 08:19PM »
It was not public until 3 weeks after Lewis' appointment but it was certainly going on internally well before then - the share price in 2014 was detrimentally affected by a series of profit warnings in the run up to the September announcement about overstated profits. It may not have been public but its effects beforehand were certainly dragging on the share price, only when it made headlines did it become apparent what the underlying cause of that 2014 performance was, which in turn ultimately contributed to the £6.4BN loss in 2015.

Considering it was Tesco employees doing the dodgy accounting, obviously it was going on internally, but it wasn't public knowledge and the market didn't know about it.

So "£2.36 for that week - that's after having dropped following the accounting scandal" is simply false, the share price had fallen massively due to what could only be described as a complete clusterf*** of a year, but they had yet to fall even further with the news of the accounting scandal, which they did.

https://www.theguardian.com/business/live/2014/sep/22/tesco-launches-inquiry-after-overstating-profit-forecasts-by-250m-business-live

OvaSees

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Re: News articles (2)
« Reply #89 on: 09-12-18, 11:31PM »
I'm not sure you comprehend what I posted alf - the market did know something was amiss, since Tesco (as legally required) publicly informed the LSE of 3 changes to its guidance on profits (i.e. profit warnings) during 2014, before Dave Lewis took over and before the accountancy scandal became public knowledge. That's not a 'complete clusterf*** of a year as you put it, that's an underlying problem in the company as it wasn't happening anywhere else. Only afterwards, when the scandal became public, did it become apparent what therefore the underlying cause of those warnings was - analysts and investors merely had what they had previously feared publicly confirmed. Remember, some of these city analysts and investment advisors were well in touch with insiders at Tesco (such as Bruno Monteyne for one who had been the Supply Chain Director). So terminology semantics aside, Tesco's financial shennanigans (or the 'accountancy scandal' if you prefer) was a factor in Tesco's performance during 2014 which led to 3 seperate profit warnings - followed by 2 more after it became public which led to the drop to £1.56. Before it became public, Tesco's share price during 2014 had already dropped from £3.30 to £2.36 before Lewis joined.

So my statement isn't false - Tesco's financial manipulation during 2014 (cooking the books, accountancy scandal or whichever term you choose) was a significant factor in its performance during that year which led to 3 profit warnings and therefore the drop in share price. Whether public or not is moot, it was going on and affecting company performance and the directors knew full well of it - hence they were summoned to court to explain.

Whatever your sentiments the numbers have it and are available to anybody to view from the LSE itself - after four whole years since Dave Lewis joined, Tesco's share price has shown a continual and steady decline, as has it's market share, certainly long enough to be considered a trend - Tesco shares now trade at 16% less than the day he took the helm, when the company was valued (market cap) at £31.11BN, today it is valued at £24.78BN a 21% drop, it's market share was 28.8% and today it is 27.4% (a drop worth a total of £3BN turnover per year when adjusted for inflation). Again, the shares are valued 6.44% lower than a month ago, 18.6% lower than 6 months ago, 5.4% lower than 2 years ago, 16.1% lower than 4 years ago, 39.4% lower than 5 years ago... and all this is despite a 2% rise in profits announced only last month because it couldn't deliver the expected improvement in earnings, leading to another drop in share price - analysts know these numbers. We can wax lyrical over terms and times but the facts don't care about your feelings.

alf

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Re: News articles (2)
« Reply #90 on: 09-12-18, 11:57PM »
Please man, stop wiggling you made a false statement own up and move on.

The price of 2.36 did not factor in the accounting scandal, you can literally fact check that with a 2 second search, so save the eloquently written dribble.

"Shares in Tesco plunge by almost 12pc after the retailer reveals that pre-tax profits for the last six months have been overstated by £250m. This was later found to be as high as £263m."

"Tesco shares slump as it admits that profits were overstated by £250m. Four executives are suspended."

"£2bn wiped off Tesco's value as profit overstating scandal sends shares sliding – as it happened"

"Tesco shares fall 11.5% to 11-year low"


Nomad

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Re: News articles (2)
« Reply #91 on: 10-12-18, 10:20AM »
At this point please bring this discussion over shares etc to an end.  If you wish to continue start a new topic, or look for a more suitable forum topic.
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