Brit stuck in two-hour queue for supermarket due to petrol chaos
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Dean in Oxford explained he headed to the supermarket to do some shopping and sat in a queue for two hours thinking it was leading to the car park. Speaking to TalkRADIO, he said: “I’m disabled, I went to the supermarket to do my shopping and I normally queue to get into the car park so I wasn’t too worried.
“I sat in this queue and thought, ‘the supermarket is busy today’.
“I’m in the queue and I get to the roundabout and realise I could have gone straight up around the side.”
Tesco is set to reveal it has weathered the worst of the ongoing HGV and labour crisis when it updates the City next week with its half-year results.
Analysts say that the grocery giant is likely to avoid the disruption seen at some of its competitors as bosses up the pay rates for drivers and offer bonuses to new recruits.
All eyes will also be on the banking division to see if it can improve on a poor performance earlier in the year, they added.
Revenues at half-year results a year ago were £26.7 billion with pre-tax profits of £551 million. Barclays analysts suggest sales could hit £30.4 billion.
Last year’s profits were dented by Tesco’s decision to repay its £249 million business rates bill.
Tesco sales growth in the first three months of the financial year were up 1.1% despite facing tough comparisons to a year ago when demand soared as the pandemic first hit and supermarket shelves were stripped bare.
BBC Newsnight estimate shows petrol rush to end by weekend
Online demand had remained high at 1.3 million orders per week even with lockdown restrictions easing. Analysts predict that growth will be key to hitting full-year profit targets.
Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “Tesco expects retail operating profits to recover to pre-pandemic levels this year.
“That comes after the enormous extra costs associated with getting the business through the pandemic, including hiring an army of extra staff, dented operating profit. We’ll find out next week if the group’s still on track for this target.
“We wonder if Tesco has managed to keep sales pushing forward in the second quarter – especially online sales. A lot of money’s been funnelled into digital expansion recently, so Tesco needs online sales growth to match.”
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Sales at the bank fell 10% in the first three months of the year as the pandemic continued to hit lending activity and increased provisions for bad debts.
Analysts at Shore Capital said that Tesco’s retail performance this quarter would be boosted by “enhanced lorry driver payments and the recruitment of staff from elsewhere in the industry” which had allowed it to weather the worst of the crisis.
Retail analyst Clive Black said he expected “modest lost sales” from Tesco due to current supply chain issues, with smaller Express stores to have borne the brunt of the drop.
Larger superstores, which can carry more stock, are expected to have performed more strongly by comparison.
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