Company
LON:SBRY
J Sainsbury PLC is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
772 stories · page 4 of 8
M&S will have to deal with fierce competition: Waitrose recently unveiled ambitious plans to treble the size of its online business, while Tesco, Sainsbury and Amazon.com have been investing into their delivery propositions for a while
Investments and investor services
On Wall Street, the Dow Jones Industrial Average is up 287 points at the time of writing
Like-for-like sales growth of just 0.2% in its stores was below the 0.5% analysts had expected, but Morrisons’ boss was relatively pleased with the “robust” performance given the drop-off in consumer confidence
Overseas markets, particularly the US, have proved tough for UK companies to crack, just ask Tesco, Next, Sainsbury’s and many others…
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A look at some of the biggest risers and fallers in London on Wednesday.
The FTSE 100-listed firm said its underlying pre-tax profit rose by 7.8% to £635mln helped by synergies from the Argos general merchandise business it purchased in 2016
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The UK's premier share index finished down nearly 33 points at 7,385
Latest supermarket sector figures showed growth for all big names except Sainsbury's
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There’s a lot for investors to get their teeth into on Wednesday, with Sainsbury’s, GSK and Persimmon among the slew of companies reporting alongside Next
It comes after latest data showed that core inflation in the US was flat last month (March) while consumer spending rose
The FTSE 100 supermarket already booked £17mln in merger-related charges in its half year results in November, while its market cap has shed around £1.2bn since the day before the merger talks came to light last year
Sainsbury's boss Mike Coupe faces the boot unless he can come up with another plan to turnaround the business, according to AJ Bell's Russ Mould
“The CMA is today effectively taking £1 billion out of customers' pockets,” Sainsbury's boss Mike Coupe said
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The FTSE 100 index closed 37.62 points, or 0.5% lower at 7,434.13, albeit above the session low of 7,405.99 as US stocks continued to post big falls on Thursday
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Aside from Barclays numbers, the Day Ahead will also bring updates from the likes of Taylor Wimpey and RELX, plus the final CMA decision on the planned Sainsbury's/Asda merger
Jefferies and JP Morgan think the CMA will reject the proposed merger of Sainsbury's and Asda
The group said the move is part of its long term strategy to reduce its Retail exposure to comprise around 30-35% of its business assets, down from around 50% currently
Jefferies said it was probable that private equity interest for Asda would "materialise swiftly" if the CMA blocks the company's proposed merger with Sainsbury's
Tesco’s dividend hike offset what looked like a difficult end to the year for the supermarket giant, but there was no such hiding for rivals Sainsbury’s and Morrisons
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The raft of macro-economic news from the US, the UK and ECB policy failed to cheer the FTSE 100 as the focus turned to the meeting in Brussels
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With the latest data showing the supermarket losing market share to discounters, investors will be hoping for news on how the group plans to maintain its position at the top
Investments and investor services
Brent crude hit a five-month high, led by OPEC's supply cut and geopolitical tensions
Sainsbury’s, which is in the process of trying to merge with Asda, lost market share as sales declined over the period
Most safe harbour stocks have been confined to a select group of market sectors that include tobacco and food retailers, although enthusiasm seems to be waning for these once dependable stocks
Struggles in a number of different sectors present takeover opportunities for private equity firms this year but investments in UK stocks are risky given the uncertainty surrounding Brexit
Sainsbury’s and Asda said the proposals “represent a unique opportunity for existing operators to add additional scale or for a new operator to obtain immediate scale”
Barclays said it is concerned about the “increasingly competitive” UK ready-meals market, in a note on the European food ingredients sector
A series of proposed remedies have been made to allay UK competition watchdog’s concerns about the planned merger
"We have proposed a reasonable yet conservative remedy package and hope the CMA considers this so that we can deliver the cost savings for customers," Sainsbury's boss Mike Coupe said
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While major fiscal measures are not expected, the result of Tuesday's vote on Theresa May's Brexit deal could put the chancellor on the spot
Investments and investor services
Straight from the horse's mouth? Not really. It was the deputy head of the Irish government, Simon Coveney, who confirmed that Theresa May will fly to Strasbourg this evening “to try to finalise an agreement, if that’s possible”.
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Aside from Morrison's, the Week Ahead will also bring updates from housebuilder Berkeley Group, insurer Prudential and fund manager Standard Life Aberdeen
Greggs shares have almost doubled since last summer, driven by a strong guidance upgrades, but that rapid rise has left it looking a little expensive to some City analysts
Sainsbury's was the only big four supermarkets to post a sales decline
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"We enter a pivotal year of operational delivery in 2019," said departing boss Paul Geddes
Analysts at Peel Hunt repeated a ‘buy’ rating on the stock but cut its target price to 190p from 200p
Builders and building materials
Duncan Cooper, the director of group finance at Sainsbury’s, will replace Robert Allen, who left the company in October 2018 following a profit warning
Johnson had filled the position as a placeholder when incumbent CEO Angela Spindler abruptly left the online retailer in September
Speculation that Walmart will look to sell its UK arm to a private equity house has been rife following last week’s report from the UK competition regulator, which effectively killed Asda’s merger with Sainsbury’s
Rightly or wrongly, the CMA is now widely expected to block the proposed merger with Asda, and UBS and Berenberg aren’t convinced by the standalone Sainsbury’s business
ShoreCap analyst Clive Black said: “There is more water to potentially flow under the bridge on this one, but expect considerable interest in songs sung by Ginger Rodgers today.”
“The CMA's current view is that it is likely to be difficult for the companies to address the concerns it has identified”
The food retailer reported a 1.0% increase in like-for-like sales excluding petrol in the fourth quarter of 2018, below the 2% increase reported in its third quarter
The UK regulator said the “scope and complexity” of the investigation and submissions from both the two main parties and third parties meant more time was needed to reach a “fully reasoned provisional decision”
The German bank's analysts argued that the £7.3bn merger deal, announced last April, would materially improve the investment case the most for Morrisons
Sainsbury's was the worst performer out of the UK's so-called big four supermarkets
Terry Duddy would replace Moss Bros chair, Debbie Hewitt, who is stepping down later this year, if picked for the job
UBS maintained a ‘buy’ rating on Sainsbury’s and raised its target price to 435p from 400p, citing the synergies expected to arise from the supermarket chain's proposed Asda merger
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Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
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Top laggard on Footsie was oil services giant Wood Group, which shed 4.09% to 524.80p
In a full year trading update, the group said like-for-like revenues had risen 3.2% compared to 2017
The group reported on Friday that in the six weeks to 30 December, UK sales rose 8% year-on-year
Below we provide a cut-out-and-keep guide to the major quoted retailers and how the quoted retailers performed
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The day includes trading updates from retailers Moss Bros and AO World, plus UK gross domestic product data and US inflation figures
Analysts had said that Tesco would be the best of its peers, and its cheaper own brands and price promotions helped to attract increasingly value savvy shoppers
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The Footsie has been dipping below and above the 6,800 mark throughout the day
Admittedly, the bar hasn't been set too high but the consensus among City number crunchers is that Tesco should have performed better than its rivals over Christmas
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“Debenhams hasn’t updated on trading since 25 October and we know from many of its competitors that November was a terrible month for retailers and December is also likely to have been a struggle”
“The big question now is what will happen to Sainsbury’s if it doesn’t merge with Asda,” said Russ Mould, investment director at AJ Bell
"Retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain," said Sainsbury's boss Mike Coupe.
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The UK blue-chip benchmark added around 45 points at 6,906, while FTSE 250 surged even higher.
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The post-Christmas assessment of the high street will carry on unabated on Wednesday, with updates expected from Ted Baker, Topps Tiles and Majestic Wines
Sales at Sainsbury’s, which has agreed to buy Asda, fell 0.4% in the 12 weeks to December 30, Kantar Woldpanel said
Like-for-like sales narrowly beat analyst forecasts, but confirmation that Aldi and Lidl are continuing to win over shoppers is likely to make investors a little bit nervous
Investments and investor services
Trade talks between China and the US are said to be going very well, which has lit a fire under US equities
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The update comes after Bradford-based Morrisons on Monday said it would cut an average of 20% from the prices of 900 products, including “store cupboard favourites”
Aldi sold almost £1bn worth of food and drink in the run-up to the holiday season, and Morrisons has responded by slashing the prices of more than 900 products
Investments and investor services
The FTSE 250 on the other hand, a better gauge of UK companies, added over 180 points at 17,976
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The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
Investments and investor services
For Ocado, it was a case of "eat my shorts" as short sellers got burnt while for BATS, not enough cigarettes got burnt as e-cigarettes rose in popularity
Investments and investor services
At the close, the UK blue-chip index was 9.24 points higher at 6,721.17 just below the late session peak of 6,733.00 and well above the early low of 6,653.65
The bank said data from research body Kantar had reported a “significant slowing consumption trend in the four weeks up to 2 Decemberso-called”
Sainsbury’s and Asda had asked the CMA for an additional 11 working days over the Christmas period to respond to “a large amount of material recently provided to us”
The benchmark index also gets a boost from optimism over US-China trade talks
Justin King led the development of the M&S Simply Food convenience format during his time as director of food at the retailer
Asda was the only supermarket among the so-called ‘Big Four’ to maintain market share in the period, Kantar Worldpanel revealed
Findel maintained its guidance for the full year as it made a strong start to the second half on the back of record Black Friday sales
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Mitie said its turnaround plan was delivering in line with plan in the second year of implementation
Britain’s largest department store chain reported that total sales in the week to 17 November had fallen 6.8% year-on-year, following from an 8.3% plunge the week before
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The day ahead includes first half results from Royal Mail and a third quarter trading update from Bovis Homes
Female workers continue to march against discrimination in the workplace after a court ordered Lloyds to amend its pension schemes to make benefits equal for men and women
Aldi and Lidl have been taking market share from the four biggest supermarkets including Sainsbury's, Tesco, Morrisons and Asda
Tesco said it welcomes the Appeal Court's ruling and the "confirmation of our belief that ATMs should not be separately rateable"
Some investors have raised concerns about the complexity involved in combining two very different brands
Sainsbury's continues to expect full-year underlying profit to meet market forecasts
Investments and investor services
The focus is now on the Federal Reserve meeting later. The interest rate announcement is set for 7.00pm, UK time
Investments and investor services
Sainsbury, Superdry and Burberry are among the names in the diary for Thursday.
With no signs of fierce competition letting up, Morrisons and Tesco have expanded into wholesale supply while Sainsbury’s is in the process of trying to merge with Asda
FTSE 100 closed marginally higher but mid-cap cousin FTSE 250 plunged nearly ten points.
Juul, headquartered in San Francisco, launched in the UK in July this year
Asda said it believes the proposed changes it is consulting on would allow it to do a better job for its customers
At the close, the UK blue-chip index was down 64.54 points, or 0.9% at 6,939.56, albeit bouncing off the hefty session low of 6,851.59 having spent all day heavily in the red
Oasis will open before Christmas in Sainsbury’s in Sydenham, south London, and the supermarket's new Selly Oak store in Birmingham
The UK blue-chip benchmark finished down over 27 points at 7,026, while the FTSE 250 closed down over 52 points at 18,961.
The move to bring supplier issues within the remit of the regulator’s inquiry follows pressure from politicians
Tesco, Sainsbury’s, Asda and Morrisons all grew sales over the past 12 weeks, but they all also gave up more market share to the German discounters (and Co-op)
Chris Bush, Tesco’s former UK managing director, and John Scouler, the former UK food commercial director, have been accused of knowing that income was being wrongly included in the firm’s financial records in order to meet targets
Tesco is in good shape to go into battle with discount retailers and a merged Sainsbury's-Asda
Investments and investor services
Mid-cap cousin FTSE 250 also closed in positive territory - up around 35 points to stand at 20,300
Tesco is expected to notch its 11th straight quarter of UK like-for-like sales growth and deliver underlying earnings (EBIT) of around £983mln, according to UBS analysts
