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BUZZ-Sainsbury and Tesco fall again on weak Kantar data

Wed, 27th Aug 2014 10:32

** Sainsbury and Tesco are among theworst-performing FTSE 100 stocks after data from KantarWorldpanel shows yet more weak sales for the country's topsupermarket retailers.

** The UK's top supermarkets have faced pressure fromlower-cost rivals such as Aldi and Lidl.

** Kantar Worldpanel says UK grocery market sales rose 0.8percent in the 12 weeks to August 17 - marking a 10-year recordlow.

** Sainsbury falls 2.1 percent while Tesco retreats by 0.8percent.

** However, WM Morrison rises 1.8 percent. Eventhough Kantar Worldpanel reports lower sales for Morrisons, someanalysts say the company may be turning a corner in terms of itsperformance.

** "Kantar suggests that sales fell 1.9 percent in the12-weeks to the 18th August, a big surprise to us, suggestingpotentially strong recent trade," writes Shore Capital analystClive Back, commenting on the WM Morrison figures.

** According to Thomson Reuters StarMine data, analysts haveon average cut their forecasts on Tesco by 1.7 percent over thelast 30 days.

** By comparison, forecasts have edged up by 0.4 percent onMorrisons over the same period. (RM://sudip.kargupta.thomsonreuters.com@reuters.net)

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