Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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SUPERMARKET SALES SOAR AS CONSUMERS STOCKPILE HOUSEHOLD ESSENTIALS
(Sharecast News) - Sales across British supermarkets hit record levels in the last four weeks, industry data published on Tuesday showed, as shoppers rushing to stock up on food and other household staples spent an extra ?1.9bn at the tills.
According to the latest Nielsen Total Till data, British consumers made over 79m extra grocery shopping trips in the four weeks to 21 March, pushing total till sales at supermarkets up 20.5%.
The last week of the four was the busiest, with a 43% spike in weekly sales. The government announced more severe lockdown-style measures the following Monday, on 23 March.
So-called stockpiling of necessities occurred in the first two weeks of the four-week period. In the last week, attention turned to frozen food, sales of which surged by 84% against the same week a year earlier, and alcohol, with sales of beer, wine and spirits spiking 67%.
The data were mirrored by research by rival firm Kantar, also published on Tuesday, which reported a 20.6% surge in grocery sales in the four weeks to 22 March - a record.
Kantar found that the busiest period was between 16 and 19 March, when 88% of households visited a grocer, adding up to a 42m extra trips.
It said a total of ?10.8bn was spent during the four weeks, which was higher than that normally seen at Christmas, traditionally the busiest time of year for grocers.
Mike Watkins, UK head of retailer and business insight at Nielsen, said: "With households making almost three extra shopping trips in the last four weeks, this small change in individual shopping behaviour has led to a seismic shift in overall shopping patterns.
"As well as increased store visits, consumers opted to shop online, many for the first time. However unlike stores there is a finite capacity for online grocery shopping, due to warehouse capacity and available delivery slots, and this will have limited the growth of online sales."
Nielsen found that shoppers typically added just one extra item to their basket during each shopping trip, with the average shopping basket increasing to 11 items. Average basket spend rose to ?16 from ?15. However, shoppers made three additional shopping trips during the period.
Combined, the surge in sales over the four-week period added up to an extra ?1.9bn spent on groceries, Nielsen said.
Kantar also found people were shopping more frequently and buying slightly more, with the average household spending an extra ?62.92 over the four weeks.
Fraser McKevitt, head of retail and consumer insight at Kantar, said: "It's inevitable that shoppers will add extra items to their baskets when faced with restrictions on the movement. With restaurants and cafes now closed, none of us can eat meals on the go any longer, an extra 503m meals - mainly lunches and snacks - will be prepared and eaten at home every week for the foreseeable future."
All UK supermarkets experienced "significant growth" in sales ov
The purpose of opening this subject a few days ago was to try to analyse my present investments to find an area where I could invest with a bit more safety and security in mind , all be it for a short time (6-9 months). I was not looking for massive gains, but compared to almost any other industry I concluded that food supply / distribution was one of the safest bets. It does not matter whether Tesco have more vans than drives or even if they are operating them or the whole of their business "At Cost" .. at least they are not at risk of "Closing Down". These are the new limits / levels at which most investors will look at. Its no longer a case of Dividends or large rises, its a case of whether the business is necessary and if something worse happens will the government step in to support a "critical industry" which I believe Tesco would be a candidate.
Do appreciate your responses whether + or -
Rosewall "Temporary fix for a temporary problem." Too much demand is not a problem. Stores are packed and sold out, online service is sold out. No way they won't profit.
Look at the vans going out now, and for the last few weeks, def not profitable. And I am not going to spell it out why.
That is partially right. There are new vans coming along but there is no spare capacity in C&C and hasnt been for weeks, nor will there be in the coming weeks. Money is being thrown at this for a temporary fix to a temporary problem. When the virus goes away, the costs will be there. Anyone want a second hand van? Going cheap?
Sorry Rosedale you are incorrect although dot com never was profitable until year 2018/2019 and has become more profitable since the removal of plastic bags as this speeds up process an reduces man hours.On your point about capacity true for home delivery but not for click and collect as we close on quieter times this will change and closed hours will now open.As per capacity a fleet of of new vans is now being launched across the estate and allow at least a 30% increase in sales.Lots more happening in the background like potential to relax Sunday trading hours etc.Really tough times all round but great potential for this share.