Hi Bertram, VG work re contacting Riverside & no surprise at the result. - Re buying some back? Oddly enough, I've just posted a few minutes on iii regarding similar question from another poster. My honest reply replicated: "As disappointing as it is seeing sub-200 again, maybe not wholly unexpected in view of speed of previous gains. I'd be more concerned if we went sub-190 again. But we'll comment on that if(?) we get there. My take for now? New BoD to run a much tighter ship (Dalton wasted hundreds of millions - it's guaranteed that won't happen again), necessary changes to lift future profits expedited compared to old admin, for eg. top-tier management already being cut, with others to follow. Also, promised "return to basics" seems a VG move in general to win back lost custom. Whilst some C stores to be cut, expansion continues in population dense areas in South, for eg. new MRW's store in Romford. Both the new chairman & CEO have made substantial buys at 186+ & 205+. Always a sound indicator of future confidence. Broker support improved. All seems encouraging. MRW's may even surprise slightly on the upside with next interim statement. Significant fly in the ointment: more UK austerity liable to see continued food-price deflation, squeezed profits, etc. for far longer than we want. After selling 2/3rds of my proper shares here at profit + divis (184+ sold at 199+, 197.40 sold at 213.30), I now hold at 209.57. I'll stay for next dividend of 9.62p (ex date in May), or until circa 230 price gap filled. Latter happening seems less likely before the former. However, once that 9.62p divi booked, depending on SP value, with a total of 22p+ in divis on my remaining tranche held since last March, I may sell my final MRW shares. Future divis after this May to be reassessed & seem likely to be cut. In nutshell: currently mostly in cash. With markets near record highs, uncertainties of GE outcome, etc. I feel fine staying that way for now & maybe for a few weeks. Frankly, it seems unlikely I'll be buying more retail stock again in near future. All 3 of my larger buys here were badly mistimed, but I've no wish to add to my remaining tranche as this sector liable to see more challenges & price volatility ahead. However, I've a few stocks on my radar in other sectors, inc. HSBC & ANTO... but not until I see much closer to my target buys. If not, I'll look at other stocks. BARC on any dip to circa 225 might also tempt me. Best of luck as usual to you & all!" Anyway, that comment was totally frank. It expounds my relative confidence for my remaining MRW tranche, but also why my reluctance to add more retail stock for the time being. The Tories likely to win next GE. Austerity likely to be even more severe than previously for at least 2, maybe 3 years.
Good evening, I sold some of my holding a while back just so I can top up if they retrace. 189p is my target as this would deliver a 10p profit per share. It was done as a bit of insurance but feel it may not get there, we`ll see. Fruitster what ever happens now you will get nearly 10p for 196p, can`t be bad. I agree with you that the long term hold looks good, just keep picking up the divi. JD Have you had any thoughts about topping up? I know you have recently made some shrewd sales and wondered if you thought they are becoming a tad cheap. With lloy paying .75 of a penny or 1p for every£1 owned it makes MRW look good at £2 paying at least 5p next year. Interested in your thoughts ATB both and all.
I have now talked to a main manager at the Riverside store. Never has there been a time when store run out of potatoes. "Stock levels go up and down due to customer numbers and time of week". " There is always meat on the refrigerated shelves sealed in their packaging. The butchers counter closes earlier than the store due to customer numbers falling and meat being a perishable item." The manager was going to read your post as he felt your comment was unjust. Whether he will contact you I don`t know. Personally I don`t understand your reasoning behind the post, sensationalism perhaps? Anyhow the manager was very upbeat about his store and felt new CEO was lifting the gloom that has surrounded MRW. He said " Morrison's is a sure bet and will only get better" Quite an interesting chap actually and I hope he becomes a poster. GL all.
Just had it confirmed that our local store as done away with supervisors roles in departments, and that mgrs do have to apply for their jobs, the store we use does appear very busy at present and they have taken on 8 new members of staff. So people being reassigned jobs and new members of staff joining. Hope it bodes well for MRW despite the gloom and doom in the food sector. Have been looking at thorntons as a buy however having looked at the lines MRW are carrying from them, then presume they have a supply or account problem with MRW any thoughts?
RE: Back in at 2.02 last week
A note of caution in the Telegraph Biz news today
Back in at 2.02 last week
Bit of a pull back, surprised to see below the 2.00 mark, however looking forward can see it being past the 2.10 mark before the end of April. Our local store appears very busy at the moment, car park always near full and people filling their trolleys. Hearing that supervisors roles are going and as stated last time mgrs having to be re interviewed and tested for their jobs.
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