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They managed to drag TSCO down to sub £2 before the bounce, although a further 5% drop here does seem excessive. I'm hovering on the buy button to get back in after my recent exit with SBRY but don't feel I need to rush into it. GLA
I'm in too , added more today. At 220p average. Can't go much lower surely?
Is anyone aware of Sainsbury’s intentions to appeal to CMA. ?
The comment made by Sainsbury's CEO, Mike Coupe is SO valid, he said:
"The specific reason for wanting to merge was to lower prices for customers. The CMA's conclusion that we would increase prices post-merger ignores the dynamic and highly competitive nature of the UK grocery market. The CMA is today effectively taking £1 billion out of customers' pockets.
"Sainsbury's is a great business and I am confident in our strategy. We are focused on offering our customers great quality, value and service and making shopping with us as convenient as possible." End of quote.
My believe is that with this argument alone, there is a case to answer. It’s kind of unfair considering other M&A’s in this industry. I hope Sainsbury’s will appeal if they have not started already.
WorldGoRound,
One accepts one won't get in at the bottom. No surprise it's fallen lower. For now, I keep an eye on price moves, but remain unfazed. Most of the FTSE hammered. UKX dropped 120 pts yesterday alone.
Yield here will compensate for holding longer than wished. But if we see a decent rise before ex-date on 6th June, I may well take more profit. Will review later. - GL.
My money is on a nice recovery, maybe not today but it will recover.
took my final buy. Now just a waiting game.
Have bought multiple times over the last week or so and now have a holding of reasonable personal size.
Hi Toze,
You're welcome. Let's just hope this sees a steady rise before actual ex-date on 6th June as SP will fall back temporarily by 7.9p on that date. - Regards.
Hey jackdawsson, Thanks for the info, that’s really good. 12th of July in my diary !
Toze,
Yes. Every 1000 shares held pays £79. Payment on 12th July, so a few weeks after ex-date. - GL.
https://www.dividendmax.com/united-kingdom/london-stock-exchange/food-and-drug-retailers/sainsburys/dividends
The 7.9 is that per share ?
Bought back at 215.96.
Reasons: possible double-bottom reversal with 216 closing low seen 25th April, though it went lower intraday. Those were lowest levels for 16 years. Also, after rising to 237.19 highs on 1st May, falls again look overdone. Especially compared to TSCO & MRW. If I’m wrong, will hold longer-term for target circa 230 to 235+ again.
NB: SBRY goes ex-date on 6th June for a handy 7.9p for any inconvenience of holding longer. - GLA.
Generally agree, but a few points:-
- the beauty of the Tesco deal was the opening up of the supply chain to the independent convenience sector amongst others - that sector still occupies a significant chunk of the convenience market but the big players couldn't penetrate it through their own retail offers.
-Argos was a good deal for Sainsbury's. The non food market might be depressed but the payback was swapping tired old stores in the High Street for modern bespoke space in supermarkets with high footfall. Argos is not always the best on price but does offer a same day collection/ delivery model which competes well with Amazon
-Argos stores would probably not make good food stores - they are generally too large and in the wrong location. The convenience market is pretty saturated now anyway.
So basically by Tesco's buying booker it will enable them to increase the wholesale prices to local shops and hence enable themselves to also increase prices without any competitive disadvantage - can't believe the CMA allowed this deal through as it is definitely to the consumer's detriment.
Morrison's have invested in UK supply chain - very smart - definitely to UK consumer's advantage and didn't even require buying anything that might require the CMA's opinion.
Sainsbury's bought Argos just when they have seen Amazon expanding and Tesco's non-food arm struggling - not very smart really as Argos/Homebase will continue to be squeezed by Amazon and will also suffer from the general decline in high-street spending in the UK - and the general economic stagnation/malaise.
However, Sainsbury's and ASDA merging would have allowed the unprofitable Argos stores to be made into food stores, increasing consumer choice and convenience - hence definitely good for consumers. Such a merger would also have enabled Sainsbury's and ASDA to combine back office and supply chains which would have allowed them to lower prices across the board by 10% - something which they premised to do and to maintain for the next 5 years - so again definitely good for consumers - yet this deal was blocked by the CMA, corrupt anyone? Or just plain stupid and run by people who can't see that the ASDA/Sainsbury's merger would have been good for consumers in numerous ways. Also if Sainsbury's/ASDA were required to see off say 150 supermarket sites between them, then by doing this is areas of store overlap, they could have benefitted other parts of the UK economy as these 150 stores could have been made into enterprise zones/start-up zones/business parks/educational centres/technology centres/urban parks or conservation areas in the suburbs.
So basically by Tesco's buying booker it will enable them to increase the wholesale prices to local shops and hence enable themselves to also increase prices without any competitive disadvantage - can't believe the CMA allowed this deal through as it is definitely to the consumer's detriment.
Morrison's have invested in UK supply chain - very smart - definitely to UK consumer's advantage and didn't even require buying anything that might require the CMA's opinion.
Sainsbury's bought Argos just when they have seen Amazon expanding and Tesco's non-food arm struggling - not very smart really as Argos/Homebase will continue to be squeezed by Amazon and will also suffer from the general decline in high-street spending in the UK - and the general economic stagnation/malaise.
However, Sainsbury's and ASDA merging would have allowed the unprofitable Argos stores to be made into food stores, increasing consumer choice and convenience - hence definitely good for consumers. Such a merger would also have enabled Sainsbury's and ASDA to combine back office and supply chains which would have allowed them to lower prices across the board by 10% - something which they premised to do and to maintain for the next 5 years - so again definitely good for consumers - yet this deal was blocked by the CMA, corrupt anyone? Or just plain stupid and run by people who can't see that the ASDA/Sainsbury's merger would have been good for consumers in
numerous ways.
Chris,
Like I say, no-one gets the bottom &, FWIW, I consider your buy on Friday to be a good one for those with a bit of patience to see out the current volatility. That's regardless of whether it goes a bit lower. - Regards & GL.
"Sold at 235 (buy 213.89). Over 10% profit in a few days is more than decent enough. Certainly by my standards.
Other reasons probably immaterial, but I’m also mindful that today’s 229.60 open leaves a technical gap below from yesterday’s 222.50 close. That seems fillable later."
===============================================================
Re my comment above. FWIW, that gap at 222.50 was filled on Thursday, then closed lower Friday at 220.30. Mindful that SBRY's lowest close for 16 years was 216 on 25th April, we could be headed for a retest of said lows & a double-bottom reversal pattern. usually bullish. That would make SBRY a strong possible re-buy for me fairly soon, accepting that no-one gets the exact low, bar from luck. - GLA.
Sorry wrong board..
Just wondered what people's targets are for this. I see some quite high profile twitter users have high targets and wondered what ball park people think the share price could go to. I appreciate it depends on the direction the company is taken in.
I bought more on Friday's gap close. In my opinion this will move higher from this level.
Positive coverage in the FT.
https://www.ft.com/content/4d918f14-6cc6-11e9-80c7-60ee53e6681d
'Fans and critics agree, though, that Mr Coupe has the retail record and the mental fortitude to rebound.'
Decent results from Sainsbury's but clearly driven by internally cost cutting measures rather than sales performance.
It remains to be seen if the costly reorganisation of in store roles will come at the cost of sales by delevering sub par service. As a regular Sainsbury's shopper there seems to be a decline in store standards - poor availability, untidy stores and demotivated or inexperienced staff. Most of the supermarkets have done a similar exercise (Asda is about to embark on it) but only time will tell if Sainsbury's have executed this badly.
Lots of talk about Coupe going. Narrow minded in my view. Lots of wise-after-the-event characters out there calling for his head. Perhaps some of those were the 'wise heads' congratulating him for his audacious move for Asda 12 months ago. The 'We're in the money' moment is an awkward reminder constantly referred to by the press but he is no buffoon - many forget the astute purchase of Argos which has paid dividends.
Asda would have facilitated a further rationalisation of the Argos estate by closing down run down High Street stores and sticking them in supermarkets, saving tons on rent and rates. That could still happen, but will depend on what Walmart decide to do with Asda.
Supermarkets continue to innovate at a rapid rate in order to survive. They have all gone down different routes to develop a USP - Tesco bought Booker, Morrisons own part of their supply chain and Sainsbury's diversified their offer by buying Argos (and Habitat). Unfortunately, Sainsbury's have lost 12 months while they bet their future on Asda. Coupe has to find a credible Plan B which puts them back in contention with their peers.
The shares look oversold. The SP is lower now than at the point the Asda deal was announced.
Perhaps the Qataris will revive their interest...(but I doubt it).
Pokerchips,
An excellent post - I mostly agree with everything you wrote. The key thing driving change is the desire for more choice. However, there is an issue still - people may be cutting off their noses to spite their face. For example to enjoy the benefits of more lesiure time/holidays one needs more money (well in a capitalist/financial economy one does at least). However people earning the minimum wage probably have a couple of grand disposable income to be spent on holidays etc per year. This is nowhere near enough to occupy oneself fully at weekends and during one's time off work - a simple week's holiday to Turkey may cost £600pp - throw in some specialist activities like kite-surfing and driving 4x4s through the semi-desert, and a hot-air balloon flight - then £1,000 for a week becomes more realistic. So if you just wanted three holidays a year - for example one to Turkey, one to California, and one to Greenland, one would need to budget £3,000 as an absolute minimum. And then one still needs additional money to entertain oneself for 49 weekends during the year.
Hence I think the point has come where people do want things cheaper, and this is driving costs down (such as the prices of taxis and junk food) - yet the price to pay is that people are no longer being provided with company-paid healthcare, and pensions are being reneged upon/cut, and pension contributions/tax are increasing (in effect younger workers/people are paying more for less). And personally I think it's reached a point where many people have more free-time (judging by the number of part-time workers, zero hours employees) than they have money to spend. Hence they have reached a sub-optimum position in that they have too much time on their hands compared to what their money can buy in terms of leisure activities/holidays/travel/special experiences.
Don't ask me what the answer is to this fundamental problem with the economy. Yet I do feel, personally, that being time rich and money poor is just as bad as being time poor and money piling up pointlessly in the bank.
Probably the economy needs some new companies which help people to balance their time/money so that they don't have to put up with having enough money but not enough time for a trip of a lifetime, yet neither are they faced with two weeks off work and only £350 to spend which would barely pay for a budget 3-day break in Europe.
jack you cheeky copycat - I did exactly the same at almost exactly the same prices for the same reasons.
Very good results - maybe last couple months Board refocusing on their current stores. SP should start to increase again over next few months. Re-investing always good sign!