Chil the kite could soar above rivals in Victoria Cup May 7, 2015 ASCOT’S card tomorrow looks tricky as it is without the imponderables of whether the rain will come and how many non-runners there could be consequently . The big betting heat is the Victoria Cup (3.45pm) and my two against the field are ZARWAAN and CHIL THE KITE. Zarwaan would be a really confident selection at [...]
Morrisons share price down after sales fall, despite slower rate under new boss David Potts May 7, 2015 The figures The Bradford-based retailer said that like-for-likes excluding fuel were down 2.9 per cent in the 13 weeks to 13 May. However, this was slightly less than analysts' forecasts of a decline of three per cent. Shares in Morrisons were trading down two per cent at 176.2 pence per share this morning. Why it's interesting [...]
Sainsbury’s dividend hit as profits plunge: Supermarket joins “horror show of income slashers” May 6, 2015 Sainsbury’s became the latest supermarket to take the knife to its final dividend yesterday, joining banks and oil companies in what analysts called a “horror show of income slashers”. Sainsbury’s said it will pay a full-year dividend of 13.2p per share, down 23.7 per cent on last year, after changing its policy in November [...]
Record grocery deflation hurts sales at Tesco, Asda and Morrisons and Sainsbury’s May 6, 2015 All four of Britain’s major supermarkets saw sales fall over the last 12 weeks, while the discounters continued to slow, as grocery price deflation reached another record low, figures released yesterday show. Sainsbury’s was the strongest performer among the big four despite a 0.2 per cent fall in sales thanks to its increased focus on [...]
Sainsbury’s share price falls after it posts first loss in a decade May 6, 2015 Nine years of uninterrupted sales growth came to a halt today as Sainsbury's reported a pre-tax loss of £72m. Investors were not impressed, and the grocer's shares were down 3.6 per cent to 264.8 pence this afternoon. The figures Sainsbury's said underlying profit before tax had fallen by 14.7 per cent to £681m in the year [...]
How Sainsbury’s, Tesco and even discounters Aldi and Lidl reined in property expansion plans and ended the supermarket turf wars May 6, 2015 In the never-ending quest for growth, for decades supermarkets held a major arsenal in their weaponry – land. But not any more. Sainsbury's today revealed it took a £682m writedown on its property portfolio in another sign the decades-long land grab by supermarkets has failed to pay off. Tesco's property writedowns run into the billions [...]
Best of the Brokers for 06 May 2015 May 5, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com WHITBREAD Berenberg has kept its “buy” rating after the surprise retirement of chief executive Andy Harrison last month. The broker said the underlying fundamentals remain strong and the new milestones “increase its confidence about the potential for Whitbread to unlock value”. MORRISONS Shore [...]
Aldi and Lidl expansion plans speed ahead of Tesco, Sainsbury’s, Morrisons and Asda in supermarket wars with five times as many planning applications May 5, 2015 Rival German discounters continue to outpace the UK's "big four" in the supermarket wars with ambitious plans for expansion five times the rate of Tesco, Sainsbury's, Morrisons, and Asda combined. While Tesco and Morrisons have been forced to shutter stores in the midst of declining sales and squeezed margins, Aldi and Lidl have submitted plans [...]
Cost of the weekly shop declines as supermarket price war rages on May 5, 2015 The cost of the average weekly grocery shop plunged by eight per cent year-on-year in May as fierce competition between the grocers continues to impact the market. Research by mySupermarket’s Groceries Tracker showed that a basket of 35 staple products across all major grocers cost a total of £86.69 in May, down from £93.87 12 [...]
Sainsbury’s braced for first loss in a decade as supermarkets move to downsize May 5, 2015 Battling with excess space and a revival at Tesco, Sainsbury’s is having to fight harder than ever. It is early on a weekday morning, and the first wave of customers are yet to arrive at Sainsbury’s revamped store in Wandsworth – its aisles stacked high with everything from garden furniture to Le Creuset-style saucepans [...]