Tesco confirmed that from Monday, September 20, it is ending its euro-sterling price

ferret

Quoted in Todays Examiner:

"Meanwhile, Tesco confirmed that from Monday, September 20, it is ending its euro-sterling price parity offer on clothing.

It will instead offer clothes at a rate of £1/€1.25, which it said is reflective of market conditions."

Get anything you think worthwhile before then. The range of cloths is cheap and cheerfull.

thorbarry

ferret wrote: »

Quoted in Todays Examiner:

"Meanwhile, Tesco confirmed that from Monday, September 20, it is ending its euro-sterling price parity offer on clothing.

It will instead offer clothes at a rate of £1/€1.25, which it said is reflective of market conditions."

Get anything you think worthwhile before then. The range of cloths is cheap and cheerfull.

Cool, it was good while it lasted.... i picked up a few t shirts there in the past few months, beatles ones, batman, other cool ones

dlambirl

God dammit :mad::mad::mad:

fl4pj4ck

monday is the 14th not 20th

greenman09

That rate the quote hasnt been near that in ages either. Maybe around 1.15 or 1.16. Still looking for a way to rip someone off i see.

GerardKeating

fl4pj4ck wrote: »

monday is the 14th not 20th

Maybe it's Monday the 21st...

gerkoff

I presume they are going at €1.25 to include the VAT difference

mcaul

Current sell rate at ulster bank = 1.17. Add in additional 6.5% vat and you're very close to 1.25

Look back 4 weeks and rate was 1.23, add in vat and you're at 1.30

Look ahead to November and it could be 1.3 + vat difference.

1.25 is fair imo. (I'm using 1.2 until end of year)

Topmanager

I want to point out that the £=€ price on clothing has noting to do with the change for good programme that was introducted a couple of months ago..The £=€ promotion started back in February or March of this year so it has been running for a good while now..

wmpdd3

Strange no other Uk high street store followed suit.....

The change in price increased sales massively.

gip

How long has the euro and the pound sterling being practically on par and yet up til two/three months ago Tesco were totally ripping us off on their prices eg. an item of clothing priced £10 was costing €15, practically 50% of a difference in price!! It just maddens me and yet we all just pay the price anyhow.

norbert64

Maybe they're gearing up for the Xmas rush.

As we (perhaps) start inching towards parity once again going into Winter, they will be able to switch back, and say, look, we're helping out average Joe/Jane.

phasers

Cheers OP, got a gorgeous coat for €25 today , would have been €45 if I'd waited!

Oracle

Thanks for the info Ferret. They've some good stuff, and you can't go wrong with jeans, shirts, socks and underwear. I'll make a visit next week. It's a bit disappointing they're ending this all the same, their euro prices on the labels were always way out anyway, for example, I think I've seen a Tesco Clothing label with £15/€25. I notice their kids clothes range Cherokee, looks great, well made and well priced.

wmpdd3

phasers wrote: »

Cheers OP, got a gorgeous coat for €25 today , would have been €45 if I'd waited!

The €25 coats are €32 in euro. The new rate will be sterling X 1.25.

wmpdd3

gip wrote: »

How long has the euro and the pound sterling being practically on par and yet up til two/three months ago Tesco were totally ripping us off on their prices eg. an item of clothing priced £10 was costing €15, practically 50% of a difference in price!! It just maddens me and yet we all just pay the price anyhow.

The parity started on 17th of March 2009. 6 months ago...

Before that the price was 10% less than price shown, that started on 21st July 2008....

Tesco were the first clothing retailer in R. of Ireland store to adjust their prices in line with sterling.

phasers

wmpdd3 wrote: »

The €25 coats are €32 in euro. The new rate will be sterling X 1.25.

Fair enough, I just went by what the tag said

jahalpin

wmpdd3 wrote: »

Strange no other Uk high street store followed suit.....

The change in price increased sales massively.

Clothes would make up a very small percentage of Tesco's overall sales in Ireland, so it wouldn't really have cost them too much to do this promotion on clothes. Most other UK high street clothes shops are almost 100% clothes so it would cost them a lot more.

Tesco would also buy all their clothes directly from places like China and spend next to nothing on promotion, so the profit margin on them would be very high anyway. They could also have used it to get rid of excess stocks from their UK warehouses.

The increased costs of doing business in ROI would already be included in the prices of the other goods in the store and so would not have to be absorbed into the prices of small sections such as clothes. High street stores only have a very limited range of products and these increased costs would have to be absorbed into the prices of their product mix

Oracle

jahalpin wrote: »

Clothes would make up a very small percentage of Tesco's overall sales in Ireland, so it wouldn't really have cost them too much to do this promotion on clothes. Most other UK high street clothes shops are almost 100% clothes so it would cost them a lot more.

Tesco would also buy all their clothes directly from places like China and spend next to nothing on promotion, so the profit margin on them would be very high anyway. They could also have used it to get rid of excess stocks from their UK warehouses.

The increased costs of doing business in ROI would already be included in the prices of the other goods in the store and so would not have to be absorbed into the prices of small sections such as clothes. High street stores only have a very limited range of products and these increased costs would have to be absorbed into the prices of their product mix

Yes well said I agree. It's not going to cost them a lot to give sterling to euro parity because clothes are a sideline for them, and the margins are bigger on clothes and non-food anyway. It does look like they used ROI to off load excess stock at times because the selection is, lets just say, varied. There was great bargains to be had though.