HMRC forces Argos to pay £3.2m for staff underpayments
16th Feb 2017 21:48
(ShareCast News) - Argos, part of the supermarket group Sainsbury's, has been being made to pay £2.4m in back wages and a £1.5m fine after an HMRC investigation found the retailer had been paying less than the legal minimum wage to thousands of workers. Argos, which was acquired by Sainsbury's la
Read moreThursday broker round-up
16th Feb 2017 09:15
(ShareCast News) - QinetiQ: Canaccord downgrades to Hold with a target price of 285p. RBS: Deutsche Bank reiterates Underperform with a target price of 210p. Aldermore Group: Deutsche Bank reiterates Neutral with a target price of 210p. Smiths: Goldman Sachs reiterates Buy with a target price of 1
Read moreAldi becomes UK's fifth biggest supermarket as Tesco and Sainsbury slip
7th Feb 2017 08:20
(ShareCast News) - As Sainsbury's lost market share and Tesco's growth slowed, German discounter Aldi jumped up to become the UK's fifth largest supermarket as the grocery sector battled through a tricky few weeks. New research on the sector from Kantar Worldpanel showed grocery prices continued to
Read moreSunday newspaper round-up: US recession, Housing policy, RBS
5th Feb 2017 16:37
(ShareCast News) - Donald Trump's economic honeymoon could come to an end as soon as next year, senior City fund managers have forecast, with the US at risk of plunging into recession. Nine years on from the start of the financial crisis, the US recovery may be overheating, Legal & General Investmen
Read moreFTSE 100 movers: Tesco gains while Sainsbury's loses out
27th Jan 2017 15:38
(ShareCast News) - The FTSE 100 index rose 0.17% to 7,173.75 in the late afternoon. Supermarket giant Tesco climbed as it announced it has agreed to merge with the UK's largest food wholesale operator Booker Group. Under the terms of the merger, each Booker scheme shareholder would receive 0.861 new
Read moreRetail sales drop sharply in January, CBI's distributive trades data shows
26th Jan 2017 12:54
(ShareCast News) - Retail sales volumes dropped sharply in January, especially for supermarket groups, according to data released on Thursday. The CBI's distributive trades survey for January showed a reported sales balance down to a four-month low of -8 from +35 in December, while the market had ex
Read moreSainsbury's chairman caught using staff to work on country home
23rd Jan 2017 13:18
(ShareCast News) - Sainsbury's chairman has been sanctioned by the supermarket's board after using the company's staff and suppliers to revamp his country house. David Tyler, who has led Sainsbury's since late 2009, was sent a warning letter after an internal investigation found there had been "mate
Read moreSector movers: BT, Smurfit Kappa move higher after hiking prices
20th Jan 2017 15:53
(ShareCast News) - Cyclicals led gains, spearheaded by oil service and general industrial issues, alongside an advance in stock of BT Group after the UK telecoms incumbent let it be known it would be raising prices for its broadband and landline services. AMEC Foster and Petrofac were up as crude oi
Read moreExane BNP downgrades Tesco, Sainsbury
20th Jan 2017 11:27
(ShareCast News) - Exane BNP Paribas downgraded Tesco and Sainsbury on Friday as it took a look at food retail, leaving it with no buys in the UK. The bank cut Tesco to 'underperform' from 'neutral' and pushed the target price down to 175p from 200p pointing to a high risk of de-rating given a build
Read moreThursday broker round-up
12th Jan 2017 13:49
(ShareCast News) - Hays: Deutsche Bank upgrades to Hold with a target price of 160p. Pagegroup: Jefferies reiterates Hold with a target price of 395p. Taylor Wimpey: Deutsche Bank reiterates Buy with a target price of 244p. Sainsbury: HSBC maintains Reduce with a target price of 205p. Tullow Oil:
Read moreHSBC reiterates 'reduce' on Sainsbury's after trading update
12th Jan 2017 09:00
(ShareCast News) - J Sainsbury was on the back foot on Thursday as HSBC reiterated a 'reduce' rating but raised its target price to 205p from 185p following the supermarket's third quarter trading update. The company on Wednesday reported total group sales for the 15 weeks to 7 January rose 0.8%, wi
Read moreSainsbury's strong supermarket sales surprises as Argos boosts online
11th Jan 2017 07:03
(ShareCast News) - Sainsbury's third quarter like-for-like grocery sales were surprisingly positive and group revenue was further lifted by recently acquired Argos as online sales proved a crucial factor over the key festive period. Total group sales for the 15 weeks to 7 January rose 0.8%, with gro
Read moreWednesday preview: Sainsbury's trading update in focus
10th Jan 2017 12:39
(ShareCast News) - J Sainsbury reports its third quarter trading update on Thursday, with investors interested to see how well the grocer weathered rising imports costs and a supermarket price war. Ahead of the trading update, Kantar Worldpanel said Sainsbury's sales fell 0.1% in the 12 weeks ended
Read moreInflation returns as supermarkets enjoy record Christmas, Kantar says
10th Jan 2017 08:27
(ShareCast News) - As inflation returned to the grocery market after a two-year absence, supermarkets enjoyed record sales over the Christmas period, according to fresh industry data on Tuesday. As prices rose for items such as fish and butter, only partly offset by falling prices for eggs and bacon
Read moreThursday broker round-up
5th Jan 2017 12:38
(ShareCast News) - Royal Dutch Shell B: UBS reiterates buy with a target price of 2500p. Aviva: JP Morgan reiterates overweight, 553p target. B&M European: HSBC reiterates buy with a 350p target. Breedon: Berenberg reiterates buy with a 85p target. Cobham: JP Morgan keeps at neutral with a 175p t
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