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Sector movers: Morrison leads supermarket comeback after press speculation

Mon, 13th Jan 2014 15:14

Supermarkets were lifting the food and drug retail sector higher on Monday as stocks recovered following a tough week for the industry.Morrison, Tesco and Sainsbury were all making decent gains in afternoon trade after all three grocers disappointed investors with poor like-for-like (LFL) sales over Christmas.Morrison, in particular, was a heavy faller last week after surprising the market with a 5.6% plunge in LFL sales during the festive season, causing the stock to fall to levels not seen in over five years.However, the share price was up a solid 6.1% at 250.6p on Monday after weekend reports that it is considering disposing of property to fund a capital return to win back investors. According to The Sunday Times, the retailer could raise up to £800m from reducing its property portfolio.Ocado, the online grocery firm which is currently helping Morrison to develop an internet shopping service to help it compete with its bigger rivals Tesco and Sainsbury, was performing well on Monday, rising over 5%.Tesco and Sainsbury were also on shopping lists, as investors hunted for bargains after the recent sell-off.Others in the sector were also higher, including convenience store group Conviviality Retail, bakery chain Greggs and food producer Total Produce.Top performing sectors so far todayFood & Drug Retailers 4,356.77 +2.43%Forestry & Paper 10,997.56 +1.90%Oil Equipment, Services & Distribution 22,330.24 +1.78%Automobiles & Parts 9,106.77 +1.30%Mining 15,892.89 +1.23%Bottom performing sectors so far todayTobacco 34,134.49 -1.43%Electricity 9,096.45 -1.36%Gas, Water & Multiutilities 5,508.86 -0.67%Mobile Telecommunications 5,423.40 -0.66%Household Goods & Home Construction 11,193.60 -0.51%BC
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(ShareCast News) - Alcoholic drinks retailer and wholesaler Conviviality doubled its interim dividend after after its acquisitions last year more than tripled first-half sales and almost quadrupled profits. As the integration continued of wholesalers Matthew Clark, acquired in October 2015, and Bibe

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1 Nov 2016 11:28

Conviviality's revenues rise as it performs in line with expectations

(ShareCast News) - Food and drink wholesaler Conviviality revenues increased as it said it is performing in line with market expectations for the year. In an update for the 26 weeks to 30 October, total revenues were 211% ahead of last year to £783m, which includes revenues from the acquisitions of

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1 Aug 2016 11:40

David Robinson jumps to Conviviality from Argos

(ShareCast News) - Independent alcohol wholesaler Conviviality announced on Monday the appointment of David Robinson to the board as managing director of Conviviality Retail with immediate effect. The AIM-traded firm, which operates the Bargain Booze and Wine Rack brands, said Robinson joined the gr

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18 Jul 2016 10:15

Conviviality Retail toasts full year growth and new resilience

(ShareCast News) - Bargain Booze operator Conviviality Retail doubled annual earnings and cash flow and says it is a "stronger and more resilient business able to thrive in uncertain economic times". Revenues in the year to 1 May of £864.5m were 137% higher than the prior year thanks in part to the

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18 Jul 2016 09:38

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18 Jul 2016 06:54

Conviviality Annual Profit Edges Up As Revenue Lifted By Matthew Clark

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11 Jul 2016 15:06

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20 May 2016 11:53

Conviviality sees annual EBITDA ahead of market views

(ShareCast News) - Conviviality sees its full-year EBITDA coming in marginally ahead of market expectations as the company confirmed sales up 137% to about £864m in the 53 weeks to 1 May. Wholesale sales were in line with the prior year and like-for-like retail (LFL) sales generated by its franchise

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20 May 2016 08:32

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Conviviality Annual Sales Up, Earnings Expected To Beat Forecasts

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13 May 2016 08:33

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9 May 2016 06:38

Conviviality Appoints Premier Foods' Non-Executive Laing In Same Role

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3 May 2016 15:42

Conviviality buys Bibendum PLB for £60m

(ShareCast News) - UK alcohol wholesaler Conviviality has conditionally agreed to buy Bibendum PLB for £60m. Conviviality said the acquisition of Bibendum - a distributor and wholesaler of wine, spirit and beer to the UK on-trade and off-trade markets - will be funded through the placement of share

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