Sainsbury (j) Share Discussion Threads

[dexdringle] 05/10/2020 10:14

To say they support Black History Month is fair enough (if they must) but to go on to tell their customers "if you don't like it then shop elsewhere" is ridiculous. I honestly think the new CEO should go over this.

As a result of the above, and only the above, I'll be selling my shares as soon as I get anywhere near my break even. If I was in profit I'd be selling them today....

[aljm] 05/10/2020 09:42

i see they have changed the text on the above link, they have removed this bit "What have we been doing to support our colleagues?
We've relaunched our network that supports ethically diverse colleagues. I AM ME @ Sainsbury's, now has over 2600 members and a very active schedule of events. We run mentoring circles, awareness days, learning sessions and celebrations.
Recently we provided our black colleagues with a safe space to gather in response to the Black Lives Matters movement."

Too little too late...

[relwood] 05/10/2020 09:24

I was looking for the Sainsbury bulletin board but seem to have stumbled into a meeting of the KKK.

[loganair] 05/10/2020 08:18

One of the main if not the main difficulty Sainsbury's has had over the past 20 years is little to no pricing power with ease of entry into the supermarket field by new entrance.

[poikka] 05/10/2020 07:36

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 07:32

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 07:02

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

[joe say] 05/10/2020 07:01

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] 04/10/2020 23:26

Aldi also going near big Tesco at burseldon road

[aljm] 04/10/2020 19:01

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

[loganair] 04/10/2020 14:12

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 13:56

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 13:51

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 11:01

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 08:17

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

Clown

[dexdringle] 03/10/2020 07:58

Is Asda realy worth £2bn more than Sainsburys?

[tim 3] 02/10/2020 18:42

Hmm we will see...

[loganair] 02/10/2020 11:21

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.