Competition watchdog to probe $3.4bn Inmarsat takeover July 16, 2019 The competition watchdog has opened an investigation into the proposed $3.4bn (£2.6bn) takeover of satellite communications giant Inmarsat by a consortium of private equity firms. Read more: Inmarsat shareholders approve $3.4bn private equity takeover Inmarsat earlier this year unveiled a buyout deal led by Apax Partners and Warburg Pincus, who tabled a cash offer of [...]
ii view: Sales retreat at Sainsbury’s July 8, 2019 By Keith Bowman from interactive investor. Tough comparatives have impacted results for this supermarket, but that is no surprise. First quarter trading for 16 weeks to 29 June 2019 Total sales down 1.2 per cent (excluding fuel) Like-for-like sales declined 1.6 per cent (excluding fuel) Grocery sales fell 0.5 per cent General merchandise sales down 3.1 per cent [...]
Shareholders vote to back Coupe in Sainsbury’s showdown July 4, 2019 Under-fire Sainsbury’s boss Mike Coupe was lambasted by shareholders at a tense investor showdown earlier today, as the supermarket chain faced a set of tough questions following a torrid 12 months. Disgruntled shareholders slammed Coupe and the board at the firm’s annual general meeting (AGM) over its falling share price, which has plunged by almost [...]
Asda and Just Eat launch express grocery delivery service July 3, 2019 Asda is partnering with Just Eat to launch a grocery delivery service that will enable customers to order products to their door in just half an hour. The grocers is also planning to roll out a pizza delivery service to 50 stores by the end of the year following a successful trial in 2018. Read [...]
Mike Coupe is yet to convince the City that he has a Plan B for Sainsbury’s July 3, 2019 It has been several months since the Mike Coupe dream of a merger with Asda was dealt a lethal blow from Britain’s competition watchdog. But how much has the embattled chief executive changed his tune? Not enough, it would seem, to quell anxiety among investors. Shares in the supermarket giant failed to pick up today [...]
What’s gone wrong at Sainsbury’s? Three problems the supermarket must address July 3, 2019 It has been several months now since the Mike Coupe’s dreams of a merger with Asda were dealt a lethal blow from Britain’s competition watchdog, but how much has changed? Directors at the supermarket chain have been setting out a plan to cut costs, slash debt and refurbish 400 stores. Yet investors will likely have [...]
Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
City lookahead: Analysts forecasting drop in sales at Sainsbury’s June 30, 2019 Sainsbury’s is expected to reveal a dip in sales when it posts its quarterly results later this week, as a spell of poor weather and an increasingly competitive retail market weighs on the supermarket giant. The grocery chain is forecasted to post no improvement in its sales on Wednesday, underlining the firm’s current challenges in [...]
Supermarkets prepare for bumper weekend during UK heatwave June 28, 2019 Supermarkets are preparing for bumper sales this weekend as shoppers stock up on rose wine, sun cream and barbecue food, with temperatures expected to soar during a UK heatwave. Londoners could bask in temperatures of up to 32 degrees tomorrow following a soggy start to the summer. Read more: Cold weather dampens May retail sales [...]
Sainsbury’s cuts market share decline as Aldi and Lidl soar June 25, 2019 Sainsbury’s has cut short the decline in its market share as discount rivals Aldi and Lidl continue to boost sales. Customer spend at Sainsbury’s dipped 0.6 per cent in the three months to 16 June, an improvement on the 1.2 per cent decline in the previous period following its failed merger with Asda. Read more: [...]