Sainsbury (j) Share Discussion Threads

[spob] 23/1/2024 17:53

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Says it all really, when a small discount retailer pays higher wages and night shift premiums than Sainsbury's.

As i said before. The writing is on the wall ... etc etc

[spob] 23/1/2024 14:10

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Lidl staff to see highest hourly pay rates in sector

Lidl staff are to receive the highest hourly pay rates in the supermarket sector.

A £37m investment will see the discounter's entry-level rates increase from £11.40 to £12 outside of the M25 from 1 March.This will then rise to £13 with the length of service.

Those working within the M25 will see pay rates rise from £12.85 to £13.55, increasing to £13.85 over time. These new entry-level rates will be up to 17% higher than the national minimum wage being introduced in April.

The German retailer will also introduce a bank holiday premium of £2 per hour and will increase its nightshift premium to £3.50 per hour.

The move, which is likely to put pressure on more retailers to increase staff wages, comes after Sainsbury's announced it will be investing £200m and increasing staff pay by 9.1% to £12 per hour.
Ryan McDonnell, CEO at Lidl GB, said customers were "switching to Lidl from every other supermarket" and it was "only right" they be thanked for their work.

[philanderer] 22/1/2024 00:13

'Sainsbury's boss speaks out for first time about epidemic of retail crime sweeping Britain'

[loganair] 21/1/2024 19:47

net - Much of this increase in population doesn't eat British food and therefore do not shop in UK mainstream supermarkets.

[netcurtains] 21/1/2024 19:15

All we can say for certain is the UK population now is much bigger than it was
10 years ago, so even though there is more competition there is also a lot more
food being eaten....

[loganair] 21/1/2024 13:55

bounty - I understand what you are saying if a share price falls by say 90% over a 10 year period then doubles over the next year, so it has only fallen by 80% then the companies share price is doing pretty well.

[bountyhunter] 21/1/2024 13:50

Well it does depend on your timeframe, MKS doubled in 2023 probably at least partly for the reason I mentioned.

[loganair] 21/1/2024 12:23

M&S back in 2015 were 600p per share whereas today just 250p, to me a 58% decline is doing very badly.

[bountyhunter] 21/1/2024 11:22

But look at the MKS share performance in the header, it's been doing pretty well, maybe on the back of Debenhams etc closing down.

[loganair] 21/1/2024 10:59

In real terms Sainsbury's are making less profits then they did 20 or 30 years ago.

The retailer in worse position is M&S who in real terms are making 10 times less profit then they were in the early 1990's.

[netcurtains] 21/1/2024 10:28

loganair: Cheap prices via NectarCard is probably allowing Sainsburys to make bumper
profits on people who dont have one or forget to bring it. I wouldn't worry about
Sainsburys... I'm sure they are quite able to look after themselves.

[loganair] 21/1/2024 08:56

How does all this benefit the share holders?

As dividends form the major part of my income, I need Sainsbury's etc to be as profitable as possible.

[philanderer] 21/1/2024 00:25

Sainsbury's spending £220m keeping prices low for customers in its current financial year

[trying2trade] 18/1/2024 17:50

Argos is a poorly run less diverse Amazon. Shows how letting things cost along and not keeping up with the times with eventually lead to disaster for huge companies.

[spob] 18/1/2024 17:00

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Sainsbury’s to exit core banking business




Supermarket plans ‘phased withdrawal’ as speculation grows over retail banking consolidation

Akila Quinio and Maxine Kelly in London


J Sainsbury plans to withdraw from financial services and offload its core banking business to other providers as the British supermarket turns its focus back on retail following a strategic review of the business.

Sainsbury’s said on Thursday it was planning a “phased withdrawal” from Sainsbury’s Bank, the lender it fully owns, to instead provide financial services via third parties through a “distributed model”.

A person familiar with the plans said this would affect its credit cards, store cards, loans, savings account as well as the Argos store card.

Many British retailers including Marks and Spencer, John Lewis and Tesco, entered financial services in the 1990s, at a time of strong lending growth. But fierce competition in the savings and mortgage markets because of rising interest rates has fuelled a wave of mergers and acquisitions speculation about small and medium banks that struggle to compete with their larger peers.

Sainsbury’s announcement follows reports that rival lender Tesco Bank is looking for a buyer, while the Co-operative Bank last month entered exclusive talks to merge with the Coventry Building Society.

The supermarket’s plan would allow it to offload the bank from its balance sheet while letting another provider — or providers — operate it under the same brand, a process that the person said was akin to “white labelling”.

“We already do this successfully with our insurance products,” the supermarket chain said in a statement on Thursday. “Over time, this will result in a phased withdrawal from our core banking business.”

Benjamin Toms, an analyst at RBC Capital Markets said the announcement was “further evidence” that the UK retail banking sector was “a tough environment” for lenders that lacked scale and did not specialise in niche services.

Simon Roberts, chief executive of Sainsbury’s, said: “We have been clear since we launched our Food First strategy in 2020 that we would concentrate our efforts on our core retail businesses and today’s announcement reflects that strategic focus.”

Sainsbury’s also said Robert Mulhall, a former executive at Allied Irish Bank, would replace Jim Brown as chief executive of the supermarket’s bank at the end of March.

The retailer had previously explored a sale of its banking arm in 2020 as ultra-low interest rates put pressure on its profitability. Sainsbury’s concluded that a deal would be of no benefit to shareholders the following year, however.

Sainsbury’s Bank operates 1,350 cash machines and 225 travel money bureaus in its supermarket stores across the UK. The grocer said its services and products would not immediately be affected by the announcement. Roberts said it was “business as usual for now at Sainsbury’s Bank”.

[spob] 18/1/2024 10:45

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Anyone want to buy Argos ?

Hahahaha

[spob] 18/1/2024 10:43

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I wouldn't buy anything off them to be honest.

I doubt they would sell anything, unless it was totally worthless. Lol


They sold the pharmacy business to some mug, who soon found out why.

[keyno] 18/1/2024 07:27

Sounds to me like Sbry are going to flog off their Banking arm. That should bring in a few bucks. :)

Edit: Thanks for the red thumbs down whoever you are - I was feeling left out. Top of the morning to you! Oh, and please remember that there are other things in life ............

[philanderer] 17/1/2024 10:35

Bernstein raises J Sainsbury price target to 320 (300) pence - 'market-perform'

[loganair] 15/1/2024 11:55

All these analyst price targets are completely meaningless as they are only in it for their own self greed and play both sides against each other and in the end they tend to be the only winners.

[philanderer] 15/1/2024 11:12

Citigroup raises Sainsbury price target to 310 (295) pence - 'neutral'