MRW in FTSE 250 2 Jun 2015 18:04
Wm Morrison Supermarkets: Market Capitalisation GBP4.02 billion. The supermarket's stock price has fallen 20% since its peak in mid-March. Morrison's shares fell 6.6% in early May when it reported a steeper drop in like-for-like sales in the first quarter of its financial year than in the previous quarter, signalling the size of the task that its new chief executive has on his hands as he tries to turn the company around and attract back the customers that have headed elsewhere. Furthermore, UBS initiated coverage of the company at Sell, saying it needs to invest on multiple fronts to better differentiate its business. The bank initiated rivals Tesco and J Sainsbury at Buy. Current share price: 172.26p.