Sainsbury (j) Share Discussion Threads

[poikka] 05/10/2020 08:36

Jeezus, are things so bad at SBRY's that they have different pay scales, and that non-whites (blacks in SBRY's lingo) need separate rest rooms?

Or have they just got a deranged, over-WOKE, bod in charge of dealing with diversity issues?

[loganair] 05/10/2020 08:32

Sadly time and time again Sainsbury's show themselves to be represented by directors who have low rent imagination and low rent intelligence, constantly trying to just be politically correct and follow the latest fad - 'Following' rather then being the leaders in something truly imaginatively new.

[aljm] 05/10/2020 08:02

yup, we will no longer use Sainsburys or Argos now, dont shove your agenda down my throat tyvm...

[joe say] 05/10/2020 08:01

My wife is off to Lidl this week - first time ever

Thanks to SBRY's virtual signalling - you know the one (that's the one with the black board director, a large number of black senior managers, and the one with many blacks in the marketing dept)

[rolo7] 05/10/2020 00:26

Aldi also going near big Tesco at burseldon road

[aljm] 04/10/2020 20:01

expect price drop tomorrow, Sainsburys just alienated a lot of the UK public !!

[loganair] 04/10/2020 15:12

Lidl is looking to open or relocate stores in 20 Hampshire towns and cities and is looking for multiple locations in Portsmouth, Southampton, Winchester and Fareham.

In total 26 locations are listed where Lidl is looking for new property but six of the sites are where Lidl is looking to relocate an existing store.


The 2 new stores Lidl are wishing to open in Winchester are Badgers Farm where there is already a profitable Sainsburys and Winchester City Centre where there is one of the most profitable Sainsury's in the whole of the UK.

I can easily see when Lidl open these store it could reduce revenue by 25% in each of the 2 Sainbury's stores in Winchester, thereby greatly reducing the profitability of both their Winchester stores.

[loganair] 04/10/2020 14:56

Aldi - In a statement, the company said its annual sales increased by 8.3% to £12.3bn at year end of its most recent reporting period.

[loganair] 04/10/2020 14:51

Sainsbury’s boosts online grocery delivery capacity:


Sainsbury’s is extending its online delivery times by starting early morning orders half an hour earlier from 6.30am and extending late night deliveries up until 11.30pm.

To meet demand, the retailer is adding almost 200 new click & collect locations and there will be nearly 1,000 more online grocery delivery vans on the road in the coming months in comparison with last year. There will also be 1,000 vans out delivering for Argos.

[loganair] 04/10/2020 12:01

How the brothers buying Asda for £6.8bn ring up a minuscule tax bill as their company has links to tax havens.

Moshin and Zuber Issa's EG Group has huge debts and a paper trail to tax havens.

The brothers' stake in EG Group is held in the tax-friendly jurisdiction of Jersey.

The brothers and TDR will borrow against the value of their stake in the Asda business to pay for the deal.

EG Group's huge £7.7billion debt pile also meant that interest payments and finance costs last year completely wiped out its £373million operating profit. New rules capping the level of tax relief written off against interest rates mean companies such as EG Group are obliged to pay some corporation tax, despite losses.

By contrast, Asda paid £94.5million tax.

City sources said they believed the Issa brothers and TDR would borrow against the value of their stake in the Asda business to pay for the deal.

Until now, the Issa brothers' meteoric rise has gone almost unnoticed outside the world of high finance. But in the past five years the Issas have quietly overseen tenfold growth at their EG Group business, which is headquartered in Blackburn but now spans the UK, Europe and America, with €20billion (£18.1billion) annual turnover last year.

That growth has been fuelled by a flurry of audacious acquisitions in an era of ultra-low interest rates using cheap debt from global financial markets.

New York-based credit ratings agency Standard & Poor's earlier this year described its debt pile as 'substantial'

It is understood the Issas and TDR plan to introduce more Asda convenience outlets to forecourts as a path to growth for the supermarket chain, which one source last night said has become 'unloved' by Walmart.

Tax experts said there is growing concern about companies whose financial arrangements dilute or wipe out profits and corporation tax.

It is understood that Barclays is lead lender on a debt package of as much as £4billion to fund the Asda acquisition.

[dexdringle] 03/10/2020 09:17

Some top class and well thought out, analysis there from Not_Knowing....

Clown

[dexdringle] 03/10/2020 08:58

Is Asda realy worth £2bn more than Sainsburys?

[tim 3] 02/10/2020 19:42

Hmm we will see...

[loganair] 02/10/2020 12:21

The deal with TDR Capital and the Issa brothers would put raw entrepreneurship and ambition in the driving seat at Asda.

The new owners said they plan to invest more than £1 billion into the business over the next three years, and said they will ensure Asda remains a price leader in the supermarket fuel sector.

[poikka] 02/10/2020 11:25

"Two billionaire brothers from Blackburn have won the battle to buy Asda from Walmart of the US, in a deal valuing the supermarket chain at £6.8bn.

A consortium of Zuber and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda.

It means the grocer will return to majority UK ownership for the first time in two decades.

The Issa brothers own EG Group, which has more than 5,200 petrol stations across the UK and Europe.

The auction process for Asda has lasted for several months. Walmart decided to sell a controlling stake in Asda after shelving plans to float the business following a failed £7.3bn merger with Sainsbury's which was blocked on competition grounds.

Walmart bought Asda in 1999 for £6.7bn."

[poikka] 02/10/2020 11:24

Oh 'ello, Walmart's flogged Asda.

[loganair] 01/10/2020 19:08

After a long and drawn out process, it appears that Asda is to be taken over by private equity firm TDR Capital in conjunction with the Lancashire-based Issa brothers.

Analysts at Shore Capital said that if this happens, it will be a remarkable case of “immense ambition, courage and entrepreneurshipR21; on behalf of the siblings behind the now global Euro-Garages business.

Veteran Shore Capital retail analyst, Clive Black, said the Issa brothers will bring retail experience and business acumen to Asda.

While Asda’s sales have increased during the Covid-19 pandemic, the chain has lagged market leader Tesco, Sainsbury’s and fourth player, Bradford-based Morrisons.

In the latest Kantar data, covering the 12 weeks to September 6, it emerged that Asda underperformed again against its big four rivals.

[netcurtains] 30/9/2020 08:42

Grocers up this morning.