Managerial finance, Tesco - publié le 12/06/2008

Résumé du document

Tesco Plc. is the biggest retailer by sales in U.K (T.N. Sofres, 2012). Its market share has grown since 2010, 30.6 to 2012, 31.5, through 2011, 30.9 (Tesco, 2012). The company recorded revenues of £64,539 million during the financial year ended February 2012, an increase of 13.1 from 2010 (Tesco, 2012). The operating profit of the company has grown as well, £3,457 million in 2010 for £3,917 million in 2011 to reach £3,985 million in 2012, an increase of 15.3% from 2010 (Table 1, Appendix 9).

The net profit of £2,336 million in 2010 has reached £2,814 million in 2012, through £2,671 million in 2011, which represents an increase by 20% between 2010 and 2012 (Table 1, Appendix 9). Generally speaking, we can say that the trend of Tesco Plc. has increased from 2010, with a growth of the market share, a growth of the sales revenue, a growth operating profit and a growth of the net profit (Table 1, Appendix 9).

But are these data reflecting the reality? Indeed, a look on the cost of the sales, since 2010, £52,303 million to 2012, £ 59,278 million, shows us that the cost of sales has increased as well by 13.4, when the sale revenue has only increased by 13.1 (Table 1, Appendix 9).

Extraits

[...] The state took over hospitals and doctors. Concerning unemployment insurance, the dole was a system based on means testing. Beveridge's plan did not quite come into place. It crystallized big aspiration for change after the war. The average unemployment in GB is in the post war period so very few people are on the dole. Full employment was the base for the whole system. Why did a liberal like Beveridge propose the welfare state model? He comes fro the liberal party. [...]

[...] They are supported by the national press. It is a party of national consensus which governed for 2/3 of the 20th century. They are the product of most of the leading power basis. Does the BBC and the newspapers support the Tories. There are two types of newspapers in GB: the broad sheets (quality newspapers) among which the Times, the Guardian, the Financial Times. These are not the most widely read newspapers. The Times is the paper of record, like Le Monde. [...]

[...] it was an attempt to bring the US closer to GB. it was also an attempt to convince the British people. Indeed he USSR was more popular in GB than the US during WWII. The reasons were obvious: it is not that they were denying history, it was that the USSR and GB had suffered during the war. The American people were not suffering and the British were not so appreciative of the US efforts (the US entered the war late and did not give as much as they should have). [...]

[...] The idea of Jacobinism is a turn to the state: the left would look to Jacobinism for change. Voluntarism is local activities coming from the base. Jacobinism is a desire for a strong state and the state must exercise the will of the people. Text: (également distribué en cours). Oswald Mosley became the leader of the British fascists in the 1930's (the Black Shirts). The meeting takes place in 1929: the journalist brings out the characteristics of the working class. In GB, Mosley was in the socialist party and came from the upper class. [...]

[...] A social class and an intellectual elite were united in this party. They bought into the welfare state and full employment. They did not want another depression: there was a moral need to keep full employment and consumerism going: all products were to be maid available to every one (Noblesse Oblige). The Liberal party attempted to address all the problems the turn of the century imposed, like the need for a social welfare system. The Liberal party tried to do what was best for the working class (noblesse oblige style). [...]