Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
J Sainsbury PLC will axe 3,000 jobs in the next few months as reshuffles middle management and shuts down in-store cafés and deli counters, which it said will "simplify the business". The jobs cuts will include around 20% senior management roles, the supermarket group said, having previously announced plans for £1 billion of cost cuts.
British supermarket group Sainsbury's said on Thursday it was proposing to reduce its headcount by over 3,000 roles as it seeks savings to counter a "particularly challenging cost environment".
Despite a sell-off triggered by QIA's massive share sale last year, Sainsbury's fundamentals remain strong with consistent grocery market share gains and potential future margin accretion. While GM faces headwinds, the company's core grocery business shows robust volume growth, with its Nectar loyalty program hitting record participation levels. Management's strategic initiatives, cost savings, and strong tailwinds from expected positive real wage growth support an upgraded price target, as we believe the stock to be underappreciated.
Sainsbury's , Britain's second biggest supermarket group, on Friday reported a 2.8% rise in underlying sales for the key Christmas quarter, with robust grocery sales offset by a weaker performance in general merchandise.
Sainsbury's shares have underperformed peers, but improving financials and strategic initiatives suggest a potential turnaround and buying opportunity. Despite mixed results, turnaround potential with Argos is expected to help margins and sales moving forward. Labor cost pressures and rising commodity prices pose risks, but discounted valuation and expansion plans, including new stores and digital growth, indicate potential for future gains.
Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF) has acquired a Sainsbury's supermarket in Huddersfield, West Yorkshire, for £49.7 million with a net initial yield of 7.6%. The site, which includes a 113,348-square-foot omnichannel supermarket, a petrol filling station and an online fulfilment hub, has 11 years remaining on its lease, with annual RPI-linked rent reviews capped at 4%.
The boss of British supermarket Sainsbury's said changes to national insurance made by the government in last week's budget will add 140 million pounds ($181 million) to its tax bill next year and warned the move would be inflationary.
Sainsbury's has banked £720 million from the sale of its Argos Financial Services (AFS) cards portfolio to NewDay Group. AFS cards account for around 20% of Argos sales and are held by around two million Argos credit customers.
British supermarket Sainsbury's said on Thursday it would sell its Argos Financial Services cards portfolio to financial services firm NewDay Group for an expected 720 million pounds ($934.06 million).
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Investors with an interest in Retail - Supermarkets stocks have likely encountered both J. Sainsbury PLC (JSAIY) and Walmart (WMT).