Company
LON:SBRY
J Sainsbury PLC is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
782 stories · page 18 of 40
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
"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
