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Unfortunately, supermarkets depend on stock turnover to make a profit... and the supply lines have been seriously disruputed. They may be selling out of everything, but a meagre 2% return is not gonna be useful when you cannot restock for 3-6 months.
The good point is that UK supermarkets get supplies from around the world... unlike the French and Italian stores..
If ASDA is to be hived off, I think Sheik MYHandi might be interested.... they tried to buy Sainsbury a few years back but were stopped by the governement... American companies have no such qualms .... where theres money to be made, they will sell anything
Why didn't the auditors pick this up.... seems like fraud to me....they tried to hide this by hiving off the property assets. Some people should be jailed and the entire board sacked... what a crooked lot...
Another company run by an Asian going belly up... guess this is payback for their colonial hangups.
The accountancy firm EY should be forced to make up the shortfall for their incompetence...What's the betting that the people who were auditing this dodgy firm have some links with the sub-continent.... there is a whiff of insider dealing on this one...
sorry, but this is the old ROXI up to its tricks again.... 10 years ago it was going to be a billion dollar company... but tomorrow never came... it just changed its name...when a major shareholder is someone from Central Asia, you just know that there is no shareholder value for others...
just saw the M&S advert on the M4 coming into London..... It was so bland that I thought that C&A were setting up shop in the UK again... This company has prime real estate all across the UK and it wastes its retail space selling dross you can buy in any discount store. It needs to copy the Selfridges and DH Evans/ Peter Jones model... they are a pleasure to visit and always something to buy …. but the food section is still the best.. better than anything you can get across Europe
Like Ted Baker, British fashion houses have become too idiosyncratic with overpriced clothing that only a few people wear. They need to get new designers in that don't waste their time creating wild fashion items. The quality is worse than anything you can get off the peg... I bought a pair of Ted Baker shoes a year ago but still cannot find anything I can wear with them.. The sole is so thin that if I walk on carpet, I will need to get them resoled... appalling
Trend364... “Be fearful when others are greedy, and greedy when others are fearful.” famous saying from W. Buffett.....
he doesn't half talk bollo*ks sometimes LOL
hmmm, Crofty seems to think that only a shareholder with substantial holdings can have a say in the company he has a stake in.... beggars belief... the whole point of have a share structure is that every shareholder has a say in HIS company.. no matter how small..... otherwise we will end up with the fat cats working for the institutions taking all the cream....oh wait that's already happening
I must have said it wrong..... I meant 'heard', in quotes...….. lots of dodgy stuff going around... insider trading? don't thinks so..hmmmmm
must have heard about the share options granted to the incoming CEO.... Why give someone an option when he hasn't proved himself... in any company I worked for, share options are only granted after a suitable period, like 1-2 years
Sorry Ken23, but the 'trade war' has only been damaging for China... Europe needs to learn from the way China is dumping all its stuff around the world and decimating the local industries... and Eurozone is not improving.. the main Christmas trading period across Europe has been a disaster .. and it will get worse after BREXIT .. I am sorry I invested in this company
hmmmm, snige….. do you think that the government will give me back the money I invested in this crappy bank when it was privatised..? they just pumped more of my tax money into it and I have to put up with reduced services and no interest on my savings.. my local branch doesn't even have a cashier service anymore.. but they still employ people to 'assist' you... when they are not kicking their heels doing nothing.. I have come across loads of people live in better council houses than a lot of people who work for a living... and the tax payer still picks up the tab..
Agree wit WorldGoRound…. Sainsbury needs to re-evaluate its Sainsbury 'Local' strategy... it is not viable... there are three 'Local' Sainsburys all within a mile radius of a Sainsbury supermarket near me... the price in the 'Locals' is often %10-%15 more expensive than the supermarket, so... when you are on a tight budget, where would you shop?... and forget about the convenience since the 'locals' have a limited range. However, I still prefer Sainsbury compared to Tescos… but Lidl is the bees knees for cheap and fair
Agree with Manyana…. cannot teach an old dog new tricks.... all the previous companies he worked for should would be flourishing if he was any good at strategies, but they are not and, he is not.... but hope springs eternal...
This share was viciously manipulated downwards by people in the know and should be investigated...
Sorry to say, but I think this is creative accounting... I did mention last week that flagship store in Oxford street was virtually empty on 28th Dec, the Kings Road store had a handful of people after new year, the High Street Ken store was.... a trifle busy and the Hammersmith store was nothing to shout about... I went to all these stores looking for quality and bargains but all I found was acrylic clothing (am allergic), dodgy stuff made in India, and household goods straight out of the 70's... hardly inspiring....I can get all these things in Primark, Wilko, TKMAXX at half the price..... I see MKS going down to £1.50-£1.60.... food is great though... best salmon money can buy