|Bid||194.00 x 1044400|
|Ask||194.20 x 411400|
|Day's range||193.25 - 196.42|
|52-week range||192.70 - 341.80|
|Beta (3Y monthly)||1.19|
|PE ratio (TTM)||21.79|
|Forward dividend & yield||0.11 (5.50%)|
|1y target est||317.00|
U.S. online retailer Amazon and British supermarket group Morrisons are extending their "Morrisons at Amazon" same-day online grocery delivery service to more cities across Britain. The service, currently available to Amazon's Prime Now customers in Leeds, Manchester, Birmingham and parts of London, will be rolled out to Glasgow, Newcastle, Liverpool, Sheffield and Portsmouth this year, the companies said on Thursday.
The boss of Tesco said he had unfinished business at Britain's biggest retailer after its quarterly sales growth slowed in a subdued grocery market under a cloud from poor early summer weather. Celebrating its 100th anniversary, Tesco is deep into a recovery plan under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic downturn in its fortunes.
Some investors are eyeing up Tesco plc (LON: TSCO) and J Sainsbury plc (LON: SBRY) as attractive investments now. I'm not so sure.
A former Royal Bank of Scotland (RBS) executive is to become the next boss of J Sainsbury's financial services arm as the supermarket giant tries to rebuild the division's profitability. Sky News has learnt that Jim Brown, whose previous roles included running RBS's Ulster Bank business, will be named this week as the next chief executive of Sainsbury's Bank. Senior staff at the grocer were informed about Mr Brown's appointment on Monday afternoon, with a stock exchange announcement expected on Tuesday.
London's main index rose as investors bet central banks would soon ease policy in response to concerns about global growth, though the rally was dampened after the European Central Bank delayed any potential interest rate hike to next year. The FTSE 100 rose 0.6%.
London's FTSE 100 share index edged higher on Thursday as investors pinned their hopes on central banks cutting interest rates in response to fears of a global recession, although gains were capped by several heavyweight stocks trading ex-dividend. By 0715 GMT the FTSE 100 was up 0.4% and the mid-cap FTSE 250 had gained 0.2%.
Mitie Group Plc surpassed its guidance for full-year profit on Thursday and predicted solid growth this year after weathering a tough period for British outsourcers by cutting costs and focusing on its core businesses. The collapse of rival Carillion and Interserve's slide into administration have hurt sentiment towards UK contractors and outsourcing groups, but Chief Executive Officer Phil Bentley was optimistic that Mitie would emerge well placed from the shakeout. Bentley said the company did a "fair bit better" in the year.
Sainsbury's boss Mike Coupe, whose attempt to take over rival UK supermarket chain Asda resulted in failure, saw his total annual pay package rise to nearly $5 million, the group's annual report showed on Tuesday. Coupe, Sainsbury's CEO since 2014, made unwanted headlines shortly after the 7.3 billion pound Asda deal was announced in May 2018 when he was caught on camera singing "We're in the Money". Sainsbury's agreed deal to buy Asda was blocked by the UK competition regulator in April.
FTSE 100 (LON:INDEXFTSE:UKX) supermarket dog J Sainsbury plc (LON:SBRY) is now trading at historic lows and it's not hard to see why.
Britain's "Big Four" supermarkets all lost market share in the 12 weeks to May 19, market research company Kantar said, as like-for-like sales flatlined at leader Tesco and fell at Sainsbury's, Asda and Morrisons. Tesco's share fell to 27.3% from 27.7% a year ago, while Sainsbury's and Asda had equal shares of 15.2%, after sales fell by 1.7% and 0.2% respectively, Kantar said.
Britain's Queen Elizabeth popped down to the supermarket on Wednesday to celebrate the 150th anniversary of the British high street chain, Sainsbury's. The 93-year-old queen visited a pop-up replica of the original Sainsbury's shop which was founded on London's Drury Lane in 1869, selling just butter, milk and eggs. It was explained to her how shoppers now use self-service tills and pay using their mobile phones, although she did not try it out herself, and she also cut a commemorative birthday cake.
Andy Ross looks at whether shares in J Sainsbury plc (LON: SBRY) could be a massive opportunity or a giant trap for investors.
Asda has recorded its first quarter of falling sales for the first time in almost two years, insisting it kept its "focus" as it fought in vain for its planned merger with Sainsbury's. The supermarket chain reported a decline of 1.1% in like-for-like sales between January and March - the first slip following seven consecutive quarters of growth. It marked a further disappointment for the chain as it continues to lick its wounds following the competition regulator's decision to block its £13bn deal with Sainsbury's.
The US owner of Asda has revealed that it is "seriously considering" a stock market flotation for the British supermarket chain after the collapse of its planned merger with Sainsbury's. Competition authorities blocked the £13bn tie-up last month , prompting speculation over whether Walmart may seek to sell or spin off the business. Walmart International chief executive Judith McKenna disclosed the plans to a meeting of 1,200 managers held on Tuesday but said the path to a share offering would "take years".
Walmart, the world's biggest retailer, said it is considering a stock market listing for its British supermarket arm Asda, whose attempt to combine with rival Sainsbury's was blocked by the UK regulator last month. Britain's competition regulator ruled Sainsbury's 7.3 billion pound takeover of Asda could not proceed, blocking one potential exit route for Walmart from the UK.
Walmart Inc. confirmed Tuesday it is considering an initial public offering for its Asda subsidiary in the UK, according to a report. Bloomberg News reported that the retailer told employees in Leeds that executives are "seriously considering" an IPO, but that preparations could "take years." Walmart had struck a deal to merge Asda with J. Sainsbury PLC , but the merger was struck down by the UK's Competition and Markets Authority earlier this year. Walmart shares gained about 0.4% in after-hours trading Tuesday.
Asda will be scrutinised for clues on whether U.S. owner Walmart wants to line it up for sale or to compete longer term in the cut-throat British grocery market when it gives its first trading update since a planned Sainsbury's takeover collapsed. Britain's competition regulator last month ruled Sainsbury's 7.3 billion pound takeover of rival Asda cannot proceed, closing one exit route for Walmart. Asda, which accounts for 6 percent of Walmart's turnover, is due to publish a first-quarter update on Thursday, when the world's biggest retailer posts quarterly earnings.
These two shares saw their prices rising quickly for a day last week and I can understand the reason, which is why their fallback by Friday made them even more appealing to me.
G A Chester weighs up supermarket stocks Tesco plc (LON:TSCO), WM Morrison Supermarkets plc (LON:MRW) and J Sainsbury plc (LON:SBRY).
Britain’s second-biggest supermarket chain plans to compete head-on with Amazon (AMZN) by selling third-party products and services. Sainsbury’s (UK:SBRY) shrugged off failed plans to merge with Walmart-owned ASDA (WMT) by announcing the new strategy at its full-year results on Wednesday. Chief executive Mike Coupe said the business would look for growth by expanding into wholesale, and using Sainsbury’s online platforms to host products, it doesn’t sell, for third-party partners.
The FTSE 100 ended 0.4 percent lower and the more domestically-focused FTSE 250 inched down 0.1 percent. Shell shed 1.4 percent to a month low and BP gave up 2.1 percent, as crude prices weakened after U.S. oil inventories rose more-than-expected with output reaching a new record of 12.3 million barrels per day. As sterling rose to multi-week highs with lingering hopes of progress in cross-party Brexit talks and ahead of Bank of England interest rate meeting on Thursday, exporter companies bore the brunt as much of their revenue is earned in dollars.