Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/576/7192

From The Socialist newspaper, 22 April 2009

Tesco: Every billion helps

SUPERMARKET GIANT Tesco declared profits for 2008-09 of 3.1 billion, an all-time record for a UK retailer and 10% up on the company's previous year's profit.

The retailer now controls around one-third of the UK's entire grocery market. And Tesco's profits are greater than the Gross Domestic Product (GDP - the sum total of a country's output of goods and services) of 33 countries!

Tesco boss Sir Terry Leahy talks about Tesco being a 'socially responsible corporation'. This is so much hogwash. Its 'corporate responsibility' is to ensuring its major shareholders receive fat dividends.

Tesco's profits and its market share gives the company enormous economic muscle. This enables it to control its supply chain, forcing smaller producers, especially farmers in the UK and abroad, to charge Tesco lower prices.

The squeezing of small producers has forced many farmers out of business as well as closing thousands of small independent stores who are unable to compete with Tesco's economies of scale. The welfare of its chickens also came under the spotlight after a campaign by TV cook Hugh Fearnley-Whittingstall.

Local planning decisions are steamrollered through by Tesco, with councils fearful of losing local jobs if they rule against the location of a new supermarket.

Tesco claim to be helping the environment by cutting energy use in their stores by 50% by 2010. But this claim is offset by their expansion plans.

Tesco came under fire in June 2008 for their use of an Indian textile factory in Bangalore that paid workers just 16p an hour (for a 54 hour, six day week) to make their clothes.

This followed an earlier report from the charity War on Want in December 2006, which found that workers in Bangladesh were regularly working 80 hours a week for just 5p an hour, in what was described as "potential death trap factories", to produce cheap clothes for UK retailers, including Tesco.

Tesco's Fresh and Easy stores franchise in the USA has also come under fire after it refused to recognise the United Food & Commercial Workers Union in its stores. This even prompted the then presidential hopeful candidate Barack Obama in June 2008 to write to Tesco urging the company to engage with the union.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 22 April 2009:

Fight the cuts!


Environment and socialism

New Labour's environmental ploy: How green are electric cars?


Visteon

Visteon workers stand up to bosses

Taking the Visteon struggle forward

Basildon workers picket Ford showrooms

Solidarity with the Visteon Workers

Enfield workers say: "Do a Visteon!"

Disbelief at Visteon bosses' offer


Socialist Party election campaign

European elections: a workers' alternative to New Labour takes shape

No2EU - yes to democracy


Socialist Party youth and students

Youth Fight for Jobs


Socialist Party campaigns

G20 Summit death: Independent inquiry into police violence, now!

Tesco: Every billion helps

CIA torture


International socialist news and analysis

Tamil action to stop the war continues

Ireland: Budget savages workers


Marxist analysis: history

Betrayals that led to Thatcher's victory

Hillsborough - 20 years on


Socialist Party workplace news

Stead McAlpin: Protesting in London

Unison: a fighting and democratic union needed

Postal workers' solidarity action

Wales FE funding: Victory, but keep the champagne on ice

National Shop Stewards Network conference

Saturday 27 June


 

Home   |   The Socialist 22 April 2009   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Tesco:

triangleSupermarket's slash jobs - union fightback needed

triangleAmy Murphy Usdaw campaign meeting

triangleAmy Murphy for Usdaw president - vote for a fighting and democratic union

triangleTesco's 10% pay increase accompanied by cuts and job losses

triangleUsdaw ADM 2017: Left challenge needed to end assault on retail jobs and conditions

Supermarket:

triangleWhat would a socialist food industry look like?

triangleThe Socialist Inbox

triangleWorkplace news in brief

triangleUsdaw conference shifts left and demands "backbone" from the union

Farmers:

triangleThe Socialist Inbox

triangleTamil Nadu mass protests against state repression

triangleIndia: struggle against land grab in Pune

Market:

triangleClosure of Nottingham unit shows dismantling of NHS

triangleThem & Us

Reports and campaigns

Reports and campaigns

19/2/18

Walthamstow

Building the campaign against clearances of the working class

16/2/18

Haringey

No fudge with the right wing

15/2/18

TUSC

TUSC statement on sentencing of Derby TUSC agent

14/2/18

Haringey

Haringey protests HDV - but Labour fails to kill it off completely

14/2/18

UCU

Uni strike: coordinate public sector fightback

14/2/18

Cardiff

Enjoyable and successful Cardiff Refugee Rights gig

14/2/18

Carlisle

Carlisle debate - socialism or social democracy?

14/2/18

Firefighters

Staines fire services saved

14/2/18

Surrey

Threat of action defeats pay cut at Surrey council

14/2/18

Woolwich

Woolwich Crossrail walkouts to demand promised bonuses

14/2/18

London

Sadiq Khan's bus drivers' London licence doesn't go far enough

14/2/18

Mansfield

Stop press: victory - campaign saves NHS rehab ward

8/2/18

Newham

Teachers strike again as anti-academy pressure mounts

7/2/18

Unison

Unison national women's conference

7/2/18

Royal Mail

Royal Mail forced back under threat of action

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0191 421 6230

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999