With Tesco overseas, I think there are two tales: inside and outside America.Outside America, the Tesco plan has been to look at particular markets and adapt very strongly to local tastes and ways. It has worked a lot of the time, with Hungary, Japan and Taiwan being less strong than, say, Ireland.The more worrying operation is in the United States. This is where Tesco wants to build up a West Coast retail operation and appear to be having a degree of success Yet it makes me nervous. Tesco is an easy target for politicians on the make, and there are plenty of them around.
There's nothing God-given about Tesco's success: look at Marks & Spencer or French Connection, or even Bhs No one in retail ever has a licence to print money. Not even Tesco or Waitrose.Well, are the shares a buy? I suppose the answer is that I think they're a strong hold because that's what I've done. Having seen them go from the 250p at which I started buying them a couple of years ago, to within sight of 400p, I'm quite happy with their showing. They have certainly defied the worst doomsters so far.Now, though, the emphasis is more on the company's overseas strategy, because there is surely a limit to how much of market shares it can command in the UK. But would we buy the stuff, or would they have to give it away?So, if you think that Tesco is going to eat Britain, you know what to do: shop elsewhere. They would then comply, and the world might be a better, greener place. Thus, either voluntarily or statutorily, Tesco and the others could be told to achieve, say, 10 per cent by value of its food sales in organic and/or locally grown produce.
09/11 Bag Elton John Tickets staging in DTE Energy Music Theatre, Susquehanna Bank Center. Elton John is staging in Clarkston, Camden and Noblesville. Elton John tickets
06/11 - 08/11 Obtain Cirque du Soleil - Alegria Tickets staging in RBC Center, St. Pete Times Forum. Cirque du Soleil - Alegria is staging in Raleigh, Tampa and Charlotte. Cirque du Soleil - Alegria tickets
08/11 - 10/11 Attain Journey Tickets staging in Borgata Events Center, Hollywood Bowl. Journey is staging in Atlantic City, Los Angeles and Syracuse. Journey tickets
On the face of it, a profit of £1.1bn in six months, even for a business the size of Tesco (£16bn of sales), is impressive. Some people think that making such huge amounts of money is evil, but I fail to see why. But what a remarkable lack of foresight from a company usually so on the ball Fortunately, its customers are not liable for any losses.. Is the fact that Tesco is making so much money a good thing or a bad thing? I mean for shareholders, mainly, but there's always the nagging question of "corporate responsibility" to consider Let's have a go.
