Sainsbury’s hit by first sales fall in nine years March 18, 2014 SAINSBURY’S nine-year run of like-for-like sales growth came to a halt in the fourth quarter as sluggish market growth and fierce competition from discounters finally caught up with the grocer. Like-for-like sales excluding fuel tumbled 3.1 per cent in the 10 weeks to 15 March, ending 36 consecutive quarters of sales growth on chief executive [...]
Analyst Views: Is Sainsbury’s sales fall a sign of a more serious underlying trend? March 18, 2014 DAVID MCCARTHY | HSBCPart of the sector’s problems is its introverted definition of “peers”. Sainsbury is losing like-for-like sales to retailers that it appears not to define as “peers”. This sector is in structural decline, with no end in sight. We downgrade our rating, target price and forecasts to reflect our rising concerns. JAMES GRZINIC [...]
Ocado’s growth slows but first profit is in sight March 12, 2014 ONLINE grocer Ocado yesterday said it was on course to report its first ever annual profit this year after strong first quarter sales. Retail sales rose 18 per cent to £218m in the 12 weeks to 23 February. However, this was below what analysts were expecting and a slowdown on the 20.1 per cent growth [...]
Analyst Views: Has Ocado’s performance in the first quarter changed your outlook? March 12, 2014 CLIVE BLACK | SHORE CAPITAL Fundamentally we remain of the view that it is a distinctive business model in that it doesn’t work when it comes to earnings. The share price remains anomalous to our minds and the read across to other highly rated online retailers is spurious in our view. JAMES GRZINIC | JEFFERIES [...]
Benefficient can give Ireland a long overdue success in the Ryanair March 12, 2014 BILL ESDAILE PREVIEWS THE RYANAIR CHASE AND THE KIM MUIR THE outspoken Michael O’Leary has made no secret of his desire to see one of his horses, running in the famous maroon Gigginstown Stud colours, win the race sponsored by the airline that made his fortune. Apart from the inaugural running of this Grade One [...]
Morning Assembly looks the perfect RSA type in brutal test for novices March 11, 2014 BILL ESDAILE PREVIEWS THE RSA CHASE AND THE NEPTUNE NOVICES’ HURDLE FINDING the winner of the RSA Chase (2.05pm) is no easy feat. More often than not, the winner is not the most talented in the contest. It is the one best equipped to cope with the stiffest test imaginable for a staying novice chaser. [...]
BBC unveils the new iPlayer. Here’s what you need to know March 11, 2014 The BBC has unveiled its new iPlayer today. The new version will see the service get a design overhaul, along with plans to roll out a 30-day catch up availability. Speaking this morning, Dan Taylor, head of BBC iPlayer, said: We've got ambitious plans for later in the year including extending the standard availability window from 7 [...]
Here’s why the UK’s food sector has a rocky road ahead March 11, 2014 With some dire Christmas sales, heavy discounting and a ramping up of online shopping, the UK food retail sector feels unloved. That’s according to Barclays, which points out that the UK’s sector is now trading at a clear price-to-earnings discount when compared with continental Europe. It hasn’t always been like this for UK companies. Expansion [...]
Get the bubbly on ice as Champagne Fever is primed for more Festival glory March 10, 2014 AFTER a quiet period of winning favourites in the Racing Post Arkle, the cream has certainly risen to the top in the last two years with the outstanding Sprinter Sacre and Simonsig claiming the prize. Nicky Henderson will be going for a third straight Arkle with Grandouet, but the seven-year-old hasn’t looked a natural over [...]
Hurricane Fly set to defy age and land an historic third Champion Hurdle March 10, 2014 BILL ESDAILE PREVIEWS THE CHAMPION HURDLE AND THE MARES’ HURDLE RARELY has a horse been more eagerly awaited than this year’s renewal of the Stan James Champion Hurdle. With the obvious exception of Annie Power, the “who’s who” of the two-mile hurdling division all make the journey to Prestbury Park to take part in this [...]