Wednesday 3 December 2008

Tesco Shares

The wife cashed in her Tesco shares a couple of months back as she wanted to get another car (or old banger).
She'd accrued them while working for Tesco's for many years and they were worth about a grand.
I thought she was mad as one company in Britain that seems to always be on the up is Tesco's due to them taking over every free space and garage around (we have around ten of their outlets within five miles of us).
But it seems that people have finally realised that Tesco's are ripping people off (with their prices now looking more like Waitrose), where they used to be one of the cheaper supermarkets.
The share price has tumbled as worries over stores like Aldi, Iceland and Lidl who are taking Tesco's customers.
At times in the past I have shopped in all of them and Aldi and Iceland are pretty good although I'd have to be desperate to shop at Lidl's (personal opinion based on some right crap I bought there a few years back).
I think a lot of people are following my style of shopping where you buy the products on offer at a specific shop and don't touch the other goods which they've raised the prices on to cover the advertised bargains.
So the upshot is that she has made a couple of hundred pounds more than if she cashed them in now :)
she should be a stockbroker with that financial insight.

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