Tesco the Xmas winner as analysts warn grocers face 'murky new year'
5th Jan 2017 10:31
(ShareCast News) - Ahead of major supermarket groups Tesco, Sainsbury and Morrisons revealing their key festive trading updates next week, analysts predicted a mixed bag for Christmas and a murky New Year. Jefferies analysts said the supermarkets as whole should confirm a healthy close to 2016 but w
Read moreIntense competition curbs supermarket price hikes
3rd Jan 2017 15:28
(ShareCast News) - Supermarkets in the UK raised their prices in December from the previous month, however the hike was lower than the previous year due to competition curbing the impact of a Brexit-caused cost inflation, according to mySupermarket.com The site's tracker covers almost 5,000 produ
Read moreWednesday broker round-up
14th Dec 2016 17:55
(ShareCast News) - Hargreaves: Barclays reiterates overweight with a target price of 1560p. Barclays: Exane BNP Paribas downgrades to neutral, 245p target. Domino's Pizza: Berenberg reiterates buy with a 425p target. Booker: Goldman Sachs reiterates buy with a 200p target. Paysafe: Barclays keeps
Read moreArgos drivers call off strike after pay talks
14th Dec 2016 17:23
(ShareCast News) - Drivers at Argos's main distribution centre had voted on Tuesday to strike during the christmas period due to a pay dispute. The industrial action, scheduled for 20 to 23 December 2016, has now been suspended after a pay deal was struck between Unite and logistics company Wincanto
Read moreArgos drivers to strike in run-up to Christmas
13th Dec 2016 14:18
(ShareCast News) - Argos delivery drivers are set to strike for three days in the run-up to Christmas in a row over holiday pay. According to union Unite, the drivers, who work for Wincanton based at Argos' flagship national distribution centre in Staffordshire, will strike for three days from Tuesd
Read moreTesco gains grocery market share as Sainsbury's and Morrisons lose out
13th Dec 2016 08:32
(ShareCast News) - Tesco grew its market share in the last three months, according to grocery market data released on Tuesday that also showed its listed supermarket rivals Sainsbury's and Morrisons both saw sales fall. Kantar Worldpanel also noted that while overall grocery prices are down on last
Read moreSector movers: Construction stock and food retailers under pressure
16th Nov 2016 14:09
(ShareCast News) - Construction stocks were generally lower following a poor trading statement from Barratt Developments, with the home builder coming out and telling clients it had to cut prices at the upper end of the housing stock in the capital. The likes of CRH also came under selling pressure,
Read moreSector movers: Grocers gain on survey data, miners fall amid profit-taking
15th Nov 2016 16:39
(ShareCast News) - Food and drug retailers paced gains on the market, with Tesco leading the way a day before its Capital Markets Day. Sales at the grocer continued to accelerate, rising by 2.2% over the 12 weeks to 6 November, their best showing in three years, according to Kantar Worldpanel. "Muc
Read moreTesco enjoys best growth in three years, Kantar data shows
15th Nov 2016 08:27
(ShareCast News) - Tesco growth rate in the last three months is fastest in three years, according to research by Kantar Worldpanel published on Tuesday, while big rivals Sainsbury's, Asda and Morrisons all declined. Although grocery prices fell for the 28th consecutive month, the rate of deflation
Read moreSainsbury's interim profits slide as pension deficit mushrooms
9th Nov 2016 07:03
(ShareCast News) - Although it assured it was still confident of hitting full year targets, Sainsbury's underlying profits fell 10% in the first half of the year as like-for-like sales worsened and its pension deficit mushroomed. For the half-year to 24 September, the supermarket group generated und
Read moreWednesday preview: Sainsbury's reports first half results
8th Nov 2016 13:06
(ShareCast News) - J Sainsbury is expected to report a drop in first half earnings on Wednesday as the company integrates newly-acquired Argos and grapples with a weaker pound and competition among supermarkets. Deutsche Bank has forecast underlying earnings before interest and tax of £350m, down
Read moreSainsbury's poaches Poundland boss O'Byrne to replace CFO
7th Nov 2016 10:36
(ShareCast News) - Sainsbury's has appointed Poundland boss Kevin O'Byrne as its new chief financial officer. O'Byrne, who became chief executive of the discounter after stints as finance director at Kingfisher and Dixons Retail, will join the supermarket group on 9 January. The FTSE 100-listed gro
Read moreMargins at risk as grocers stuggle to pass on food price inflation, SocGen warns
2nd Nov 2016 11:06
(ShareCast News) - Marmite continues to captivate financial analysts, with a note from Societe Generale using the divisive yeast extract to warn about the risk of gross margin pressure among supermarket groups that has led to it cutting target prices for Tesco and Wm Morrison. Following the controv
Read moreWednesday broker round-up
26th Oct 2016 17:40
(ShareCast News) - FirstGroup: Goldman Sachs keeps at buy with a target price of 168p. Esure: Berenberg stays at sell, 238p target. Anglo American: Deutsche Bank reiterates hold with a 965p target. Intertek: UBS reiterates buy with a 4100p target. Sainsbury: Goldman Sachs reiterates sell with a 1
Read moreSector movers: Goldman boosts grocers, Deutsche wary on steel
26th Oct 2016 16:02
(ShareCast News) - Gains for Sainsbury and Tesco saw grocers rise to the top of the leaderboard following upwards price target revisions out of Goldman Sachs, although the underlying commentary was somewhat less than flattering. The broker removed Sainsbury from its 'Conviction' sell-list, 'promotin
Read more