Morrison (wm) Supermarkets Share Discussion Threads

[philanderer] 11/9/2020 00:06

The special dividends that investors have received in previous years also remain suspended, though analysts at Jefferies still expect 10p of special payouts later in the year.





Barclays reiterating 'underweight' ... tp 180p

[philanderer] 10/9/2020 17:30

Yep, that was a poor day.

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Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said that while Morrisons' profit statement "made for pretty ugly reading", she added there was "more than just a light at the end of the tunnel".

She said that while the supermarket had a smaller online and delivery business than its rivals, it had grown strongly "and starting from a lower base means there's more room to grow".

[essentialinvestor] 10/9/2020 15:25

Would not read it as kitchen sinking.

It looks like they lost control of costs. To a degree that is understandable,
however the extent of this is disappointing.

[nerdlinger] 10/9/2020 15:01

kitchen-sinking

[essentialinvestor] 10/9/2020 13:00

"...In response to the unprecedented COVID-19 challenges, we
adopted a purpose to guide us: 'To play our full part in
feeding the nation - it's more than our job'..."


All very laudable, however this is a PLC not a charity.

It's a case of striking a balance.

[loganair] 10/9/2020 12:48

The pandemic may also have provided some positive unintended consequences for Morrisons. By necessity, it has streamlined some operations and had to ramp up its online offering, which was previously a laggard in terms of the sector as a whole. The fivefold increase in online and home delivery sales was made possible by brand new offerings such as doorstep delivery, initially aimed at the more vulnerable members of society, while the tie-ups with both Amazon and Deliveroo proving successful.

Indeed, the Amazon partnership is to be extended further and this particular tie-up could have some very interesting implications in the medium term.

[johnwise] 10/9/2020 12:36

Morrisons 25.3% fall in first-half profit

Nothing to do with COVID-19 pandemic, Just poor management (Tesco Superior service)

Hardly surprising. To much vertue singling (half the lights switched off on Saterday mornings)from Poor management., to many empty shelves of every day items for far to long Always the same excuse "Delivery Problems" Not a welcoming place to shop with security gards on the door giving a hostile atmosphere..

Morrisons, Britain's fourth largest supermarket group, has reported a 25.3% fall in first-half profit, hurt by costs related to the COVID-19 pandemic, but said it expected profit growth for the full year.

[philanderer] 10/9/2020 10:51

If they don't like what they've heard chart support hopefully at 180p

[muffinhead] 10/9/2020 10:50

philanderer 26 Aug '20 - 09:40 - 2261 of 2286
Barclays Capital today reaffirms its underweight investment rating on Morrison (Wm) Supermarkets PLC (LON:MRW) and raised its price target to 180p (from 175p)

[muffinhead] 10/9/2020 10:44

189p important level
lets see end of day
Analyst webcall just finished

[philanderer] 10/9/2020 10:32

scotches, good summary, thanks.


'No-deal Brexit means food price rises, warns Morrisons'

Fruit and vegetables most at risk of price hikes due to storage issues as supermarket unveils big drop in profits

[philanderer] 10/9/2020 10:15

Arlene Ewing, investment manager at Brewin Dolphin, said of the company's update: "Morrisons' results are indicative of the wider challenge facing supermarkets - while many expected them to thrive in the current environment, buoyed by business rates relief among other things, that hasn't quite turned out to be the case."

She added: "There are, nevertheless, positives to be taken in the form of expectations that COVID-19 costs will fall significantly in the second half, an increase to the dividend, and a relatively bullish outlook from management in this latest update."

[philanderer] 10/9/2020 10:07

Guardian morning report:


.........In the City, supermarket chain WM Morrison is the top faller after it posted a 28% tumble in earnings due to the pandemic.

Pre-tax profits at Morrison’s fell to £145m in the last six months, from £202m a year earlier, even though like-for-like sales jumped by 8.7% as shoppers stocked up to get through the lockdown.

Morrison’s ran up £155m of extra costs due to Covid-19, partly mitigated by four months of business rates relief worth £93m. It expects the net cost of £62m to be balanced out by future business rates cost savings.

During the pandemic, it boosted its online and home delivery order capacity fivefold, with five new growth channels: Morrisons.com store pick, food boxes, doorstep, ‘Morrisons on Amazon’ and Deliveroo.

But, Morrisons’ profits were also hit by the closure of its cafes, and the (most welcome) discounts it gave to key workers and farmers:

[albert3591] 10/9/2020 09:51

They always drop share price after fair results.

[loganair] 10/9/2020 09:42

Asda named the cheapest supermarket as Tesco ranked more expensive than Waitrose, Sainsbury's and Morrisons.

Tesco was the most expensive supermarket to shop at in August, with Ocado proving the priciest online grocery retailer.

"It is interesting to see however, that Tesco has now become more expensive to shop with than Ocado and Waitrose."

Included in the government's 'shopping basket' are items such as eggs, milk and bread, as well as non-perishables like pasta, rice and cereal.

The full breakdown of supermarkets' average basket costs from lowest to highest over the four-week period in August were as follows:

1. ASDA - £130.16

2. Iceland - £134.49

3. Waitrose - £138.86

4. Sainsbury's - £139.51

5. Morrisons - £145.74

6. Ocado - £147.93

7. Tesco - £148.98

[bookbroker] 10/9/2020 08:40

Would like their vertically integrated business model!

[buywell3] 10/9/2020 08:34

Net debt GBP2,802m (2019/20 year end: GBP2,458m)

Amazon does not need to buy such debt

It can buy loads of cheap space to grow for peanuts in defunct shopping centres that have gone bust or are going bust

[bookbroker] 10/9/2020 08:28

Just a matter of time before Amazon comes with an offer, merging with Asda would be a good fit, once Walmart out the way with their sale.

[ygor705] 10/9/2020 08:10

Results broadly in line with what I expected. 2019 special dividend decision deferred but interim increased by 5 %. Lack of fuel sales, earlier payments to suppliers and COVID-19 expenses appear to explain most of the disruption. Demonstrates that there is still money to be made from selling fuel!

[albert3591] 10/9/2020 07:40

Decent results...no doubt it will be marked down first thing,it always seems to happen.

[c0cky] 10/9/2020 07:35

Excellent results. Great future prospects IMO

[amaretto1] 10/9/2020 07:07

Mixed results ... but ok

[philanderer] 09/9/2020 14:25

Morrisons extends delivery service to 20,000 people in retirement communities