Company
LON:SBRY
J Sainsbury PLC is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
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Despite starting the year in a “good position financially,” the FTSE 100 retailer expects the next 12 months to be impacted by external pressures and uncertainties
Grocery inflation is currently at its highest level since 2012
The UK’s second-largest supermarket will also close 34 of its less popular hot food counters and "simplify the way it runs its bakeries" in 54 stores
The GMB union said Asda's "below inflation" pay offer of between 5% and 7.5% meant a "real terms pay cut"
Perhaps more retailers are learning from the king of the beatable guidance, Next, which last week delivered another masterclass
The supermarket chain now expects full-year profits of £720mln, which is £60mln more than it had forecast previously
Investors are looking for future growth – "and unfortunately Sainsbury isn’t at the top of the list", but takeover speculation still looms
Like-for-like sales dropped 1.4% in the grocer's latest quarter
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At the close, the UK blue-chip index was 51.05 points, or 0.7% higher at 7,288.62, below the day’s peak of 7,303.89 but well above the session low of 7,237.57
There are widespread concerns that staff shortages and supply chain constraints will reduce the availability of popular Christmas products such as turkeys
The supermarket group said it plans to reach net-zero emissions by 2035 and is exhorting its suppliers to work harder to cut their carbon footprints, too
The supermarket revealed last November that had been received expressions of interest in Sainsbury's Bank
Four “dark stores” have opened in London to service the demand.
“Major changes are about to come in consumer grocery shopping patterns"
The supermarket group is recruiting 22,000 temporary staff over the festive season
The practical economics of electric vehicle charging on a mass scale have yet to be decided
The grocer's shares hit a multi-year high last month amid mounting takeover speculatioin
Sainsbury's Bank is clearly sub-scale says Shore Capital
The grocer is an obvious target for private equity suggest analysts
US buyout firm Apollo is said to be exploring the possibility of a bid for Sainsbury’s
Under the new rules, food industry workers will be able to keep working provided they continue to test negative for COVID-19, rather than having to isolate for 10 days
Already this sub-industry is “highly crowded”, the analysts noted, but many are well-funded and rolling out their operations in the dense major cities
Simon Roberts told reporters there was “nothing to update” on regarding bid approaches to the FTSE 100 group
Sales in the first quarter were ahead of expectations as the grocer focuses on new launches and price reduction initiatives
Lidl wants to open around 140 more new stores by 2023, whilst Aldi is targeting 280 by 2025.
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The diary will also feature news from housebuilders Vistry and Persimmon as well as package holiday provider and airline Jet2 and bookmaker Entain
A trawl through book-to-asset-value ratios suggests a lot of well-known London-listed companies are cheap, while it is rumoured that private equity firms have cash burning holes in their pockets
Analysts at Jefferies said while the supermarket's Argo business had driven its recent outperformance, they expected this momentum to "worsen" going forward
Discounters are also a big threat in their key areas of expansion, such as London
Nickolds worked for John Lewis for 25 years after starting as a graduate trainee
Underlying profit before tax in the financial year to March 2022 is expected to be well above March 2020 levels
Czech investor owns 9.99% of supermarket group after latest share purchase
The supermarket grocer can grow profits by 8%, Jefferies says.
The grocers issued a statement following Rishi Sunak's Budget announcement
The Big Four have enjoyed an extra boost from online shopping during the pandemic, which the discounters have missed out on
Banks and other financial services groups accounted for two-fifths of the cuts
I wish it could be Christmas every day ... the supermarkets probably do. They probably don't even mind the lockdowns. The sector remains fiercely competitive, however.
Customers treated themselves with premium products and placed more online orders compared to previous years
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The UK's top share index closed up around 15 points at 6,856 on the day
Many shops will also be choc-a-bloc with Christmas stock and unable to open before the New Year.
On the other side of the coin, one analyst thundered that "it is absolutely right for the group to look after its retail and pension fund shareholders in particular too through this pandemic and to think otherwise is both myopic and detache
Digital sales more than doubled, with online grocery sales up 102% and Argos even higher
AstraZeneca releases third-quarter results on Thursday whilst Sainsbury and AutoTrader also feature in the diary.
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The UK index of big caps advanced 80 points to 5,657 before close
Apollo Global Management and TDR Capital are two other private equity groups seeking to buy a large stake in the grocer
Builders and building materials
Around 150,000 homes could be built in London above or alongside existing supermarkets, according to one property sector analyst
With around 10mln copies printed at the height of its popularity, the catalogue at one point was the most widely printed publication in Europe
From Friday shoppers will need to cover their faces in shops, banks and takeaways or face a £100 fine
Weekly online grocery sales more than doubled in recent weeks and the SmartShop self-scanning tool now accounts for more than half of sales in some supermarkets
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The UK's index of leading shares finished in the red to the tune of nearly 12 points, or 0.19%, to close at 6,157
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The latest US ADP payrolls report and Federal Reserve minutes are also out on Wednesday
Sainsbury's is assuming lockdown restrictions will ease by June but the disruption will continue until mid-September.
Total grocery market growth of 5.5% over the past four weeks compared to the 20.6% that Kantar reported a month ago
The grocer is also building further protections for staff and adding slots for online shopping
Sainsbury's, Marks & Spencer's food business and Ocado seemed to have done the best in the sector
The supermarket group said it is changing the way its supermarkets operate to cope with the impact of coronavirus, including allowing only elderly and vulnerable customers to shop in the first hour of trading from Thursday onwards, and rati
Sainsbury’s total UK business rates bill was £567m in 2019, of which £500mln related to its stores.
“What (products) we can and can’t get is the least of current challenges,” an industry source told Reuters
Sales for the UK's grocery market as a whole rose 0.7% in the 12 weeks to 23 February, with Sainsbury's the only 'big four' supermarket to increase its market share
The news comes a month after the group's chief executive Mike Coupe announced his retirement
Experts say small caps often do not provide enough data to allow stakeholders to assess financial risk against ESG issues, while some end up greenwashing
The FTSE 100-listed grocer said the £50mln annual investment will not hit plans to reduce net debt
“It is fair to say that Coupe had an easy job and it seems unlikely that his successor Simon Roberts will be able to lay his hands on any quick fixes”
Simon Roberts, currently the grocer’s retail and operations director, has been selected to be the new CEO
Shore Capital's Clive Black is expecting the FTSE 100 grocer to focus on paying a healthy dividend and investing in existing stores rather than opening new ones
The FTSE 100 grocer reported like-for-like sales including fuel had fallen 1.1% in the 15 weeks to 4 January, with total retail sales down 0.9%
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Mid-week will also bring a trading update from bakery chain Greggs in the wake of the launch of a meat-free version of its popular steak bake
Coles will access the FTSE 100-listed retail giant's supply chain to expand its own-brand range beginning next year
Underlying profit before tax fell 15% due to due to higher marketing costs, worse weather compared to last year and the timing of cost-cutting
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Footsie closed up 9.76 points at 7,406.41. The intraday high was 7,431.94
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Housebuilder Persimmon will also post a trading update, while the Bank of England will unveil its latest monetary policy decision
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In London, Footsie closed up 67.27 points higher on the day, or 0.92% at 7,369.69,
“The grocery market seems to have finally edged out from under the shadow of 2018 and tough comparisons with the strong summer sales of last year," Kantar said
Sales in the second quarter saw an uplift, with total sales up 0.1% and like-for-sales down 0.2%
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The House of Commons is due to sit from 11.30am on Wednesday after judges ruled that Boris Johnson's prorogation of parliament was unlawful
Sainsbury's did the best of the big four over the last 12 weeks but Lidl, Aldi - and for that matter the Co-op and Ocado - are still gaining ground.
Tesco continued its reign as the UK's biggest grocer, however along with Sainsbury's, Morrisons and Asda it lost ground to discounters Aldi and Lidl
“Every responsible business has potential succession plans for its CEO. This is nothing new,” a Sainsbury’s spokesperson responded
Last year’s heatwave meant us Brits forked out more on things such as beers, cider and ice cream, but with the weather much duller this summer, grocery sales have dropped
MIke Coupe was lambasted over the Sainsbury's recent lacklustre performance at Thursday's AGM.
Investments and investor services
The Footsie finished down nearly six points at 7,603
The troubled CEO looks set for a pasting on Thursday as questions over strategy and executive pay are likely to bubble over
Sainsbury’s warned that retail markets remain “highly competitive and promotional and the consumer outlook continues to be uncertain”
Investments and investor services
Footsie closed around 50 points higher at 7,609 on Wednesday
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A trading update from the blue-chip supermarket will be delivered in the shadow of the collapse of its planned merger with Asda
Investments and investor services
The UK's premier share index closed around 73 points higher at 7,499, while FTSE 250 was also up - around 170 points to 19,632
Goldman's analysts said: “While we continue to expect both grocery and non-food earnings to be pressured, and sit below consensus EBIT and EPS for FY20-22E, the stock has materially underperformed peers"
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The Week Ahead will also bring updates from fellow blue-chips Associated British Food and Persimmon PLC, as well as the latest US payrolls report
The digital communications firm said trading at the start of the year had been as expected, with results from the “significant” changes at Archetype forecast for the second half
Kantar said a wet start to the summer, compared to last year’s heatwave, has dented supermarket sales
Aldi and Lidl have been the runaway success stories in the supermarket sector in recent years, but the likes of Waitrose and Fortnum & Mason have more than held their own
“We now have a good foundation for us to push on and continue to grow profitably,” CEO Gareth Jenkins said.
Jim Brown replaces Peter Griffiths, who has run the business since 2012.
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Footsie closed up 39 at 7,259, while mid-cap cousin FTSE 250 went the other direction, shedding over six points to close at 19,065
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Investors look forward to a strategy update from Aviva's new boss, meanwhile, they are braced for CMC Markets results after the recent profit warning.
The budget airline is accompanied by generic drug maker Hikma on the list of firms facing the blue-chip trap door
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Asides from the macro news, the Week Ahead also brings the latest quarterly FTSE indexes reshuffle, a strategy update from insurer Aviva, and results from Auto Trader
Kantar Worldpanel said Sainsbury’s and Asda both lost market share in the 12 weeks to May 19.
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Here's Wednesday's look at the major stock market movers
High street retailer has sunk to the relegation places in the FTSE 100 index
