Sainsbury (j) Share Discussion Threads

[loganair] 03/3/2021 19:38

Despite significant ongoing costs associated with protecting colleagues and customers from COVID-19, we expect that the vast majority of Sainsbury's stores will remain open this year. We will therefore forgo the business rates relief on all Sainsbury's stores again this year. We will also forgo the business rates relief on all standalone Argos stores once they re-open.

[loganair] 03/3/2021 19:37

Sainsbury’s is to cut 500 head office jobs while another 650 jobs are at risk as the supermarket closes one of its online grocery packing centres although the supermarket said it hopes to redeploy most of the 650 staff to neighbouring stores. . The majority of workers at the group’s “dark store” fulfilment centre in Bromley-by-Bow, London, which was the first to open in 2013, are expected to shift to working in Sainsbury’s stores. By March next year, more than 20 stores in and around the capital are expected to expand their online packing capabilities, enabling Sainsbury’s to deliver thousands more orders each week. The UK’s second largest supermarket will also close offices in Coventry and Victoria in London and move out of two of the five remaining floors it occupies at its London head office in Holborn, another two floors at its Avebury office in Milton Keynes and one in Manchester as many staff permanently switch to working part-time from home.

[scaff55] 03/3/2021 11:31

Ground Hog day here again today, down by the end of the day but all above board LOL

[scaff55] 02/3/2021 16:44

They should rename it Sainsburys Down, Fixed to keep falling stay clear.

[ny boy] 02/3/2021 11:38

Having a reasonable pull back, might be tempted if S1 is hit Support1: 215.50p Support2: 179.30p

[rolo7] 02/3/2021 09:03

No chance I am a monkey last time I looked! ?

[netcurtains] 02/3/2021 07:59

No chance that the DOW going up?

[pierre oreilly] 02/3/2021 07:52

No chance of what?Or was that a reply to someone else?

[rolo7] 01/3/2021 13:03

No chance! Argos card repayments at a record high my guess 4 million savers created by covid! Low defaults

[pierre oreilly] 01/3/2021 08:58

You pay peanuts you get monkeys. Problem is sometimes you can pay a lot and still get some monkeys.

[netcurtains] 01/3/2021 08:12

Well paid staff often equates to a really good investment.

[loganair] 28/2/2021 17:11

Sainsbury’s will increase salaries for its supermarket and Argos staff for the third time since the start of the pandemic. The retailer has also pledged a bonus to frontline workers as thanks for their work since the outbreak of coronavirus. Sainsbury’s staff currently receive £9.30 an hour and Argos workers get £9 an hour, but this will rise to £9.50 from March. Staff at central London stores will see their hourly pay rise to £10.10. A 3% annual bonus will also be paid out to staff, meaning a full-time worker will take home an extra £530. The latest pay rise from Sainsbury’s means workers at the retailer have seen salaries increase 24% over the last five years. The bonus is the third since the pandemic and means the company has handed out more than £100 million in extra cash to workers. A 10% pay boost was made between March and April last year and a second boost of 10% for four weeks in November.

[loganair] 25/2/2021 11:00

Sainsbury’s is to retire its ‘Live Well for Less’ brand motto and replacing it with ‘Helping Everyone Eat Better,’ part of a package aimed at boosting its green credentials. They said the new strapline aims to highlight how good food can also be healthy, sustainable and affordable.

[loganair] 25/2/2021 10:55

Asda has launched a major restructuring which could put around 3,000 back office staff at risk, as consumer habits change in the wake of the pandemic. The grocery firm said it also plans to create around 4,500 jobs in its online operations this year and will look to hire staff affected by the restructuring.

[chiefbrody] 25/2/2021 10:43

Asda looking at job layoffs dir to changes in structure/buying habits. Wonder if that will open the floodgates for the others to scale down...

[netcurtains] 24/2/2021 09:44

!FOLLOWFEED

[poikka] 22/2/2021 16:01

"The Issa brothers are said to believe the fashion brand, which was founded by fashion retail entrepreneur and founder of Next George Davies in 1990, is outside of their area of expertise." Lol, supermarkets are "outside their area of expertise", never mind rags.

[loganair] 21/2/2021 16:53

Asda’s new owners are considering a spin-off of the supermarket’s George fashion business, it has been reported. The Issa brothers are said to believe the fashion brand, which was founded by fashion retail entrepreneur and founder of Next George Davies in 1990, is outside of their area of expertise. The pair would be more comfortable continuing with the brand on a licensing basis to free up more space in stores. They have already confirmed they are pursuing a partnership strategy that would result in more third party brands, including Accessorize and Claire’s Accessories, introduced into stores. Brothers Mohsin and Zuber Issa and TDR Capital are in talks to buy more than half of coffee chain’s Caffe Nero’s 350 million pounds ($491 million) of loans. The acquisition would position the billionaire brothers to make a bid for control through a debt-for-equity swap were Caffe Nero to restructure its borrowing said banking insiders.

[muffinhead] 18/2/2021 17:59

All this online fulfilment is getting MORE expensive It will come to UK...deliveroo, uber, just eat, supermarkets

[muffinhead] 18/2/2021 17:51

Wage inflation at Walmart https://uk.advfn.com/stock-market/NYSE/WMT/share-news/Walmart-Promises-Raises-for-425-000-Workers-After/84374078 "The country's largest private employer said it would raise pay for U.S. workers to an average ABOVE $15 an hour. Its minimum starting wage for U.S. workers will remain at $11 an hour. The pay raises will be for store workers in digital and stocking roles, said Walmart U.S. Chief Executive John Furner. That targets roles that have been especially important during the pandemic, including workers that gather products from store shelves for online orders picked up in parking lots or delivered to homes. Walmart has worked to keep shelves stocked as shoppers stockpile certain items such as food and cleaning supplies. "We saw major changes to customer behavior last year we believe will be lasting, and we have to continue working to stay in-stock, deliver items on time and provide the best omni experience possible," said Mr. Furner. Starting March 13, pay for workers in those roles will move up to $13 to $19 an hour, based on a store's location. Rivals Amazon.com Inc. and Target Corp. have made $15 an hour their starting wage for all workers. The Biden administration and Congress are considering raising the federal minimum wage from $7.25 an hour. " Walmart down 5%

[poikka] 17/2/2021 15:29

No doubt the Issa bros will flog some of Asda stores to reduce the debt they're taking on. The question is, will Sainsbury's be tempted to buy any of those stores. Looking at Sainsbury's sp, I guess that the answer is 'not many, if any'. Hold/Buy, with inflation creeping up.

[loganair] 13/2/2021 11:10

Issa Brothers have raised £2.75 billion’s worth of junk bond sales to fund their latest move to secure ownership of Asda. This comes after reports that EG Group, which the brothers founded with a single petrol station in Bury in 2001, had borrowed £3.5 billion to complete the deal. By raising money through selling the bonds, the brothers hope to finance their £6.8 billion purchase of Asda while only injecting a relatively small amount of their own funds. In a joint statement, Mohsin and Zuber Issa said: “We are excited about the proposed integration of the Asda forecourts into EG’s established UK operations, which we believe would underpin the future growth of the combined network.” The Issa Brothers have said that they now expect the deal to be complete by late February, subject to approval by the Competition and Markets Authority.

[loganair] 11/2/2021 11:40

Typical of Sainsbury's and have been their main problem over the past 20 years, they're always seem to be on the 'Defensive' - can they ever win and beat the competition if only on the defensive??? Isn't it about time Sainsbury's broke out of their defensive position...

[loganair] 11/2/2021 11:35

Defence against discounters and Tesco: The decision to slash prices is the latest attempt to thwart the rapid growth of German discounters Aldi and Lidl. Besides taking aim at Aldi, Sainsbury’s move will also help defend its position against Tesco which has stepped up communication of its own Aldi Price Match scheme. Launched last March, its scheme now covers some 500 lines and is credited with helping Tesco achieve switching gains from the discounters in recent trading. The move will squeeze margins as the big grocers battle higher costs from delivering food and keeping staff and customers safe. Sainsbury's sales were 12 per cent up for the period after expanding its online delivery capacity from 370,000 weekly slots to 830,000.