With the Horse meat scandal come & gone (too many people involved to name) & the Tesco Pre-tax profits crashing 92% to just £112m, meaning that Its shares slid more than 6% to 171p, wiping another £1bn off the value of the business. Tesco is now worth just half of its value in January 2015.
Also this week MorrIsons supermarket chain profits were down by 52% to £345m, its worst results in eight years. After taking account of a £1.3bn write down in the value of its supermarkets, that turns into a loss of £792m.
Keep this in mind & think they have to claw this money back somehow, so is the wool still being pulled over our eyes in the supermarkets? are we paying enough attention? are the bargains really bargains?
I remember on the 19th December 2013 I froze a 500g pack of minced beef 5% fat priced at £4, only a few weeks later (14th Jan) same shop I see the same product now priced £4.50 but 15% fat (as of 18th Jan now 20%) I couldn't see any product lower in fat so I refused to buy it.
We are still going through a recession, times are hard & companies will cut corners, & jazz up marketing to confuse the f*ck out of us, all we can do is be aware & shop around because our health is important...as is the money in our pockets.
Keeping in mind "He who has health has hope & he who has hope has everything"
What do you think?, great to hear some thoughts on this..😁!