09 maj: Kubisme i Strib – luksusvilla med udsigt over Lillebælt
09 maj: Pas på de skjulte forsikringer
09-05-2012 08:49:00

J Sainsbury To Scale Back Expansion As Profit Falls Slightly

Relateret indhold

LONDON -(Dow Jones)- J Sainsbury PLC (SBRY.LN) said Wednesday it will follow chief rival Tesco PLC (TSCO.LN) in scaling back new retail space growth in the coming year as the U.K. grocer reported a fall in full-year net profit but a market-beating increase in same-store sales.

"Whilst the wider economic situation remains uncertain, we remain confident that our clear strategy, market insight and strong values will enable us to make further progress both in our core food and non-food businesses," said Chief Executive Justin King.

Sainsbury, the U.K.'s No. 3 supermarket by market share behind Tesco and Wal-Mart Stores Inc. (WMT)-owned Asda Group Ltd., reported net profit of GBP598 million for the year to March 17, compared with GBP640 million a year earlier, on total sales 6.8% higher at GBP24.51 billion. Same-store sales--measured from shops open more than a year--excluding fuel rose 2.1%.

The retailer posted adjusted pretax profit--the performance indicator most analysts watch for--of GBP712 million, up from GBP665 million, slightly above consensus estimates of GBP701 million. The full-year dividend increased to 16.1 pence from 15.1 pence.

Sainsbury said it expects growth in new retail space to be around 5% in fiscal 2013, a climb down from the target of 15% it set in 2009.

Consumers have come under increasing pressure in recent months as the U.K. economy has nosedived back into recession and miserable weather has kept shoppers off the high street. Data released by the British Retail Consortium earlier Wednesday showed retail sales fell 3.3% in April, the biggest decline since March 2011.

Sainsbury's recent strategy has been built around its Brand Match promotion, which analysts have credited with attracting cash-strapped customers and helping the company gain market share on its rivals.

Latest data from Kantar, which monitors grocery purchasing habits, showed Sainsbury retain its share of the U.K. grocery market at 16.6%. In the last year, Sainsbury has taken customers away from market leader Tesco, while stretching its lead over fourth-placed Wm. Morrison Supermarkets PLC (MRW.LN).

-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308; peter.evans@dowjones.com

Order free Annual Report for WM Morrison Supermarkets Plc

Visit http://djnweurope.ar.wilink.com/?ticker=GB0006043169 or call +44 (0)208 391 6028

Order free Annual Report for Tesco Plc

Visit http://djnweurope.ar.wilink.com/?ticker=GB0008847096 or call +44 (0)208 391 6028

Order free Annual Report for Tesco Plc

Visit http://djnweurope.ar.wilink.com/?ticker=US8815753020 or call +44 (0)208 391 6028

(END) Dow Jones Newswires

May 09, 2012 02:49 ET (06:49 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Novo/Jyske: Hæver kursmål til 370 kr. fra 330 kr.

24-10-2017 09:10:28
Jyske Bank skruer op for sit kursmål for aktien i medicinalselskabet Novo Nordisk, der løftes til 370 kr. fra 330 kr.Anbefalingen fastholdes samtidig i positivt terræn på "køb".Det fremgår af data fra Bloomberg News.Novo Nordisk-aktien er tirsdag morgen startet uændret i 319,30 kr. Dermed indikerer Jyske Banks nye kursmål et fortsat kurspotentiale på 15,9 pct./ritzau/FINANSMikkel Brix Kvols +45 33..

Amerikansk oliefirma sætter dansk Nordsø-felt til salg

24-10-2017 08:34:30
Amerikanske Hess Corporation har sat sin ejerandel af det danske Syd Arne-felt i Nordsøen til salg. Det fortæller selskabet i en pressemeddelelse tirsdag.Hess er ved at fokusere sin forretning og har netop solgt aktiver i Norge til Aker BP for 2 mia. dollar (12,7 mia. kr.). Samtidig er salgsprocessen sat i gang i Danmark.Hess er operatør på og ejer 61,5 pct. af Syd Arne-feltet, der har produceret ..

Høreapparater: Sivantos-ledelse vil ikke sælge sminket lig

23-10-2017 15:32:25
I de seneste snart tre år har høreapparatproducenten Sivantos været under kapitalfonden EQT's vinger, efter at svenskerne overtog høreapparataktiviteterne fra kæmpekonglomeratet Siemens i november 2014.Dermed kan man måske så småt begynde at ænse et frasalg - eller en selvstændig børsnotering af selskabet - i horisonten, da kapitalfondernes formål typisk er at modne og effektivisere deres selskabe..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Amerikansk it-gigant bekræfter opkøb af softwareproducent - NY
2
Amerikansk oliefirma sætter dansk Nordsø-felt til salg
3
Mandagens aktier: Lundbeck og FLS sikrede akkurat plus til C20 Cap
4
DLH: Gyldent håndtryk til afgående topchef kvæler overskuddet
5
Novo/Jyske: Hæver kursmål til 370 kr. fra 330 kr.

Relaterede aktiekurser

Tesco PLC ORD 5P 187,85 0,2% Stigning i aktiekurs
Sainsbury (J) PLC ORD 28.. 246,30 0,0% Fald i aktiekurs
Morrison (WM) Supermarke.. 231,80 -0,2% Fald i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
24. oktober 2017 13:30:57
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20171023.1 - EUROWEB2 - 2017-10-24 13:30:57 - 2017-10-24 13:30:57 - 1 - Website: OKAY