|Bid||194.05 x 1044400|
|Ask||194.15 x 411400|
|Day's Range||194.15 - 197.60|
|52 Week Range||192.70 - 341.80|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||21.80|
|Forward Dividend & Yield||0.11 (5.68%)|
|1y Target Est||317.00|
Isobel Lodwick’s great grandmother was a suffragette who chained herself to Glasgow’s Govan Town Hall in protest that only men could vote. Decades later, Ms Lodwick is also fighting for women’s rights as one of 5,000 claimants bringing an equal pay case against Tesco, the UK’s largest retailer. If Asda, Tesco, Wm Morrison, J Sainsbury and the Co-op lose it is estimated that the total compensation bill could top £8bn and prompt people in other sectors to take similar action.
Britain's "Big Four" supermarkets all lost market share in the 12 weeks to May 19, market research company Kantar said, as like-for-like sales flatlined at leader Tesco and fell at Sainsbury's, Asda and Morrisons. Tesco's share fell to 27.3% from 27.7% a year ago, while Sainsbury's and Asda had equal shares of 15.2%, after sales fell by 1.7% and 0.2% respectively, Kantar said.
Retail giant Walmart (NYSE: WMT) confirmed it's considering an IPO for British supermarket Asda after its recent merger with Sainsbury's was rejected by UK regulators, according to CNBC. The Leeds-based supermarket chain Asda was purchased by Walmart back in July 1999 for 6.7 billion pounds. Walmart is the largest retailer globally, with around $500 billion in annual revenue and about 11.700 stores.
Walmart, the world's biggest retailer, said it is considering a stock market listing for its British supermarket arm Asda, whose attempt to combine with rival Sainsbury's was blocked by the UK regulator last month. Britain's competition regulator ruled Sainsbury's 7.3 billion pound takeover of Asda could not proceed, blocking one potential exit route for Walmart from the UK.
Walmart Inc. confirmed Tuesday it is considering an initial public offering for its Asda subsidiary in the UK, according to a report. Bloomberg News reported that the retailer told employees in Leeds that executives are "seriously considering" an IPO, but that preparations could "take years." Walmart had struck a deal to merge Asda with J. Sainsbury PLC , but the merger was struck down by the UK's Competition and Markets Authority earlier this year. Walmart shares gained about 0.4% in after-hours trading Tuesday.
Asda will be scrutinised for clues on whether U.S. owner Walmart wants to line it up for sale or to compete longer term in the cut-throat British grocery market when it gives its first trading update since a planned Sainsbury's takeover collapsed. Britain's competition regulator last month ruled Sainsbury's 7.3 billion pound takeover of rival Asda cannot proceed, closing one exit route for Walmart. Asda, which accounts for 6 percent of Walmart's turnover, is due to publish a first-quarter update on Thursday, when the world's biggest retailer posts quarterly earnings.
Britain’s second-biggest supermarket chain plans to compete head-on with Amazon (AMZN) by selling third-party products and services. Sainsbury’s (UK:SBRY) shrugged off failed plans to merge with Walmart-owned ASDA (WMT) by announcing the new strategy at its full-year results on Wednesday. Chief executive Mike Coupe said the business would look for growth by expanding into wholesale, and using Sainsbury’s online platforms to host products, it doesn’t sell, for third-party partners.
The FTSE 100 ended 0.4 percent lower and the more domestically-focused FTSE 250 inched down 0.1 percent. Shell shed 1.4 percent to a month low and BP gave up 2.1 percent, as crude prices weakened after U.S. oil inventories rose more-than-expected with output reaching a new record of 12.3 million barrels per day. As sterling rose to multi-week highs with lingering hopes of progress in cross-party Brexit talks and ahead of Bank of England interest rate meeting on Thursday, exporter companies bore the brunt as much of their revenue is earned in dollars.
The new chairman of Sainsbury's said on Wednesday the British supermarket group had been right to pursue a takeover of rival Asda having received the necessary legal advice that the deal would get through the competition regulator. Sainsbury's and Walmart owned Asda agreed the 7.3 billion pound deal in April 2018 when David Tyler was Sainsbury's chairman. The deal was blocked by Britain's competition regulator last week.
Sainsbury's boss Mike Coupe vowed to improve stores, cut prices on daily essentials and invest in online to restore sales growth for Britain's second largest supermarket group after the humiliation of his failed takeover of rival Asda. Coupe said Sainsbury's would evolve, rather than dramatically change, a strategy that is designed to meet changing customer habits - more frequent shopping trips, the demand for more convenience and more shopping online. Sainsbury's $9.5 billion (£7.2 billion) bid to buy the Walmart-owned Asda and surpass market leader Tesco was blocked by Britain's competition regulator last week, in a public rebuke to Coupe who had orchestrated the deal.
Sainsbury's boss Mike Coupe vowed to improve stores, cut prices on daily essentials and invest in online to restore sales growth for Britain's second largest supermarket group after the humiliation of his failed takeover of rival Asda. Coupe said Sainsbury's would evolve, rather than dramatically change, a strategy that is designed to meet changing customer habits - more frequent shopping trips, the demand for more convenience and more shopping online. Sainsbury's $9.5 billion bid to buy the Walmart -owned Asda and surpass market leader Tesco was blocked by Britain's competition regulator last week, in a public rebuke to Coupe who had orchestrated the deal.
With European markets closed for the May Day holiday, the FTSE 100 in London was higher though trading volume was light. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) rose 0.2% to 7,431.2, making up part of Tuesday’s 0.
The Sainsbury chief executive officer promised improvements to stores and price cuts. Coupe said these had already been moving in the right direction in recent months, but that’s at odds with reports of empty shelves and shabby stores.