Sainsbury (j) Share Discussion Threads

[watfordhornet] 13/9/2024 08:39

Have I missed something? Why the drop?

[pirates4] 10/9/2024 15:30

As long we topple Ocada soon, that's all I care.

[philanderer] 10/9/2024 09:22

JPMorgan raises Sainsbury's price target to 304 (262) pence - 'underweight'

[pirates4] 09/9/2024 15:03

They could use the homebase properties for a local hub for sainsburys local stores deliveries.

[pjleeds] 06/9/2024 15:42

I have a problem , sorry. The problem is alcohol. But RED LABEL Tea is good

[pjleeds] 06/9/2024 15:36

K price e shops at sainsburys

[pjleeds] 06/9/2024 15:19

Sorry about the outburst but angry

[pjleeds] 06/9/2024 15:16

Very angry.

[pjleeds] 06/9/2024 15:15

Red label tea is good. somebody tried to break into my car last night, if I catch them.they will die. Scum.

[tim 3] 01/9/2024 16:24

So company's should have to pay the same for jobs in warehouse as the shop floor?

Why, its their business and up to them how much they reward for each job.

As long as they are not discriminating on grounds of race or gender. Sainsburys are very keen on promoting equal rights,they should be able to pay what they want provided its above the legal minimum.

There could be several reasons why they need to pay more for some jobs like difficulty in recruiting.

[pjleeds] 30/8/2024 14:20

Who cares, just keep going up.

[loganair] 29/8/2024 16:34

Doesn't make clear, are Sainsbury's just buying the Leases or or buying the Freehold of stores that are currently leased?

[philanderer] 29/8/2024 13:26

Sainsbury’s said on Thursday that it has agreed to buy 10 leasehold stores from HHGL Limited, trading as Homebase, for conversion into supermarkets.


House broker Shore Capital said: "No notable impact upon FY25 EPS is expected, but this handy bolt-on should nicely feed into FY26 and beyond, signalling the growing capability and confidence of Sainsbury in the UK grocery arena.

"A competitive but rational market presents good ongoing opportunity for Sainsbury to us, shareholders should, in our view, be pleased with this work."


Sharecast

[1224saj] 27/8/2024 20:21

Tesco up 30% since April, Sains up 15% :-(

[rolo7] 27/8/2024 20:14

This could cost the supermarkets tens of millions plus worrying for asda and Morrisons

[spob] 27/8/2024 12:35

.

Next shop workers win six-year battle for equal pay in landmark case




Chain may have to foot £30m bill after tribunal hears firm paid 3,500 sales staff lower hourly wage than warehouse workers

Kalyeena Makortoff

The Guardian


27 August 2024


Shop workers at Next have won a six-year legal fight for equal pay in a landmark case that could force the retailer to pay more than £30m in compensation and bolster similar claims lodged against the big UK supermarkets.

The employment tribunal ruling will benefit 3,540 claimants, who accused Next of paying its retail sales staff – who are overwhelmingly female – lower hourly wages than its warehouse workers, the majority of which are male.

Next – which has 466 stores across the UK – had argued that the difference in pay for the two roles was based on the “market rate” for each position, and reflected the need to recruit and retain 24/7 staffing of warehouses, including for night shifts, Sundays and public holidays. The retailer said pay levels had been set in a way to ensure the “viability” of the business.

The tribunal acknowledged that the decisions were driven by efforts to cut costs and boost profit. It also accepted that the discrepancy was not due to “direct discrimination” in relation to gender, saying there “there was no conscious or sub-conscious gender influence in the way Next set pay rates”.

However, it ultimately ruled that the retailer had failed to demonstrate that lower pay was not the result of gender-based discrimination, and said financial decisions could not be used as a blanket argument against equal pay rates.

“For market forces to be a trump card in this way would defeat the objective of the legislation; lower pay in particular sectors due to indirectly discriminatory practices could then be lawfully sustained in perpetuity,” the ruling explained. “There must usually be a more compelling business reason for such arrangements to be justifiable.”

Next said it planned to appeal against the ruling.

The Next case, which covered the period from 2012 and 2023, explained women made up nearly 78% of retail sales jobs, while men made up about 53% of warehouse staff. During that time, some warehouse staff were able to earn between 40p and £3 more an hour than retail sales workers, Leigh Day, the law firm representing the workers, said.

The ruling also took into account that retail staff had access to amenities that were not available to warehouse staff, but said that the “idyllic portrayal of the advantages of the workday of a sales consultant against the grim endurance of the warehouse worker painted in written submissions of the respondents was something of a parody”.

Elizabeth George, a Leigh Day partner and barrister representing the claimants, said the ruling was “hugely significant” and the case was “exactly the type of pay discrimination that equal pay legislation was intended to address”.

The tribunal will decide on compensation and back pay, which could extend up to six years. Hourly pay will also be equalised in the current contract, and staff will also be handed paid rest breaks, and equal pay for Sunday, night time and overtime shifts, in line with those offered to warehouse staff.

Next reported £918m in annual pre-tax profits for 2023, up 5% from a year earlier.

Next said it plans to appeal against the ruling. “In respect of the specific terms in which the claim succeeded, it is our intention to appeal. This is the first equal pay group action in the private sector to reach a decision at tribunal level and raises a number of important points of legal principle”, the retailer said in a statement.

It is the first successful equal pay claim of its kind against a national UK retailer, according to Leigh Day, and was likely to set precedent in similar cases its lawyers are coordinating against the big supermarkets.

More than 112,000 store staff are bringing “similar equal pay claims” against Asda, Tesco, Sainsbury’s, Morrisons and Co-op, through Leigh Day. Its lawyers said they expected the Next judgment to be “closely scrutinised by all the retail heavyweights. The tribunal has made it clear that relying on market rates in itself is not a valid defence in equal pay claims of this type.”

Leigh Day added: “Each case will be decided on its own particular facts, but the success of the Next staff will be a huge encouragement to all these cases.

[loganair] 23/8/2024 14:43

With food inflation running at around 15% at the time, means a real cut of 22.5%.

Looking around when shoping I'd say 50% of this is due to buying cheaper, lower quality and 50% buying less.

[philanderer] 23/8/2024 13:20

'Households cut food shop by 7.5% last year amid cost-of-living crisis'

New data suggests people were ‘either consuming less, or… buying lower quality items’, the Office for National Statistics said.

[philanderer] 22/8/2024 22:35

'This Morning host Alison Hammond steals the show in Sainsbury's Christmas advert'

[pjleeds] 22/8/2024 14:12

Going up as the lift attendant said, who can remember them?

[loganair] 21/8/2024 15:21

At Asda And Morrisons, It Was Always About Financial Engineering:

The owners of Asda are facing mounting pressure after figures showed the struggling supermarket chain’s share of the grocery market reached a “new nadir” as sales fell sharply this summer.

The grocer’s sales fell 6.4% in the three months to 10 August, equivalent to more than £2bn in lost revenues, as it became the only member of the traditional “big four” supermarkets to see sales shrink, according to analysts at NIQ.

The third-largest UK supermarket chain lost 1.3 percentage points of market share, diving to just 11.8%, putting it just a sliver above Aldi in fourth place.

The figures from industry analysts at NIQ, formerly known as Nielsen, paint an even worse picture for Asda than similar data from the grocery market analyst Kantar.

Clive Black, a retail analyst at Shore Capital, said: “Asda built up market share from the 1980s but in modern times the present NIQ market share represents a new nadir, with further new lows likely in forthcoming months."

Asda is struggling to compete against its bigger traditional rivals Tesco, Sainsbury’s and Morrisons as well as the fast-expanding discounter Lidl, which increased sales by 4.8%, 5.3%, 2.1% and 9.6% respectively with M&S fastest growing as sales increased by 10.7%.

The discounter Aldi was the only other major chain to lose market share, according to NIQ, as its sales slipped 0.7% after slowing down new store openings, and it faced widespread price-matching from the big four traditional supermarkets. Despite the sales fall, Aldi, the UK’s fourth largest grocer, now controls 10.4% of the market, just 1.4 percentage points behind Asda.