Not the most exciting share, but with safeway conversion now complete (and how much better the old safeway stores are now) the shares should start to come back. Already started a nice rise from a recent low. Costs for conversions will still hold the price back but when that is out of the way, should be be nice. 190p

cynic i buy new VW every year and give my old one away i pick up my new one 29th and have allready decided who is having this one i am love to see the smile on there faces. amazing

cynic where can i get a list of div dates for ftse100

have asked IG who will get back to me ..... for upcoming divis i think they get the info via bloomberg or one of the big brokers with whom they deal .... for all 100 companies, it's possible that they can be found via www.londonstockexchange.com and then go to bottom right to find header for contacts

cynic thanks

sp falling on Iceland bid rumour?

sp has not fallen disproportionately to the rest of the market and if the rumour is true (far from impossible), then i do not see it as a negative

Yes. Time to be out of MRW, imo. 1.5bn is a lot of money, though should the deal be done, the brokers should then revalue the company, presumably at a much higher price.

Nomura note out today on the proposed MRW / Iceland offer:

Morrison reportedly running the rule over Iceland
Both the Sunday Times and Sunday Telegraph reported that Morrison is in the process of appointing advisers for a potential GBP 1.5bn bid for Iceland. In its last published numbers for the year to Mar-10 Iceland had GBP 2265m sales, GBP 154m EBITA and GBP 184m EBITDA from c.780 stores, with a floor space of 3.8m sq.ft. As widely reported, Landisbankis majority stake is believed to be for sale.

Under the stewardship of CEO and founder Malcolm Walker, Iceland has performed strongly, delivering compounded LFL growth (+4% for FY Mar - 10), with market data suggesting that FY Mar-11 also saw mid-single-digit growth. Sales densities of c.GBP 600/sq.ft to deliver an EBITDAR margin of c.11% also hint at strong cost discipline (store rent GBP 65m).

Although we think MRW, alongside Asda, would see a reasonable demographic fit with the Iceland store catchments, the success of any deal would be contingent on the delivery of the sales uplifts from overlaying a Morrison offer on the Iceland stores.

MRW has a clutch of stores at 8k sq.ft, and is in the process of opening 16 former Netto stores (7-8k). However, it has not yet opened the three trial sub-3k stores (planned for affluent catchments). A deal would acquire smaller store know-how and a supply chain, albeit for a frozen food specialist with 5-6k stores rented in secondary locations.

0.7x sales for rented stores looks full, but highlights MRWs value MRW would have the benefit of synergies and sales uplifts, but the mooted price tag of 0.7x sales represents a full valuation, relative to the 0.5x it paid for 16 Netto stores (Asda paid >1x) and the 0.5x valuation implied by our Jan-12 forecasts for MRWs almost fully owned portfolio.
Although we think MRW has very different capabilities from its acquisition of Safeway, and are encouraged by MRWs ambition, we are wary on reported price and question whether the Iceland portfolio should form the vanguard of MRWs advance into convenience.

i know this is a bit of a silly day as will be tomorrow just before yet another b/h, but it's good to see a strong performance with sp comfortably back above the 300 level

cynic don't forget they are buying their shares back.

i don't recollect that MRW was being shorted; it's held up very well since the figures anyway

cynic they are not being shorted they are using 1.5 billion to buy back their own shares for cancellation, hence supporting their sp in a declining market.

if that ends up as a capital gain for me i don't care!

16:42, Sunday 4 September 2011

Morrisons' first-half results will be closely watched, not just by supermarket analysts, but economists trying to divine how bad the economy is in the crucial months running up to Christmas.

So far this year, Morrisons has proved to be one of the most reliable of performers posting better sales growth than its bigger competitors, but how much has trading slowed in recent months?

Analysts are forecasting that Morrisons' first half like-for-like sales growth could be anything from flat to 2.4pc. If it hits 2pc, that would be a clear signal that not only is it taking market share, but the British shopper is in possibly in better shape than many fear. First (OTC BB: FSTC.OB - news) -half pre-tax profit is expected to climb from 410m to about 433m.

Morrisons has been helped by the fact that it sells a far greater proportion of food than its rivals, which have moved increasingly into clothing and electricals areas where consumers are cutting back on.

Also, from May 398 of its 439 stores extended their opening hours. Analysts will want to know how much of its sales growth has been driven by these longer hours

Q3 IMS

RNS Number : 8245R

Morrison(Wm.)Supermarkets PLC

10 November 2011

Further good progress

Wm Morrison Supermarkets PLC

Q3 Interim Management Statement - 13 weeks to 30 October 2011

Morrisons delivered another good sales performance, with total sales* excluding fuel up by 4.6% (7.6% including fuel) and like for like sales* up 2.4% (5.8% including fuel). Record numbers of customers visited our stores and sales continued to grow ahead of the market.

In the period we opened ten new stores, including our second convenience outlet, and we are on track to meet our target of adding 600,000 sq.ft. of new space during the year.

We have previously set out a range of operating and strategic initiatives designed to generate profitable growth; driving our topline, increasing our efficiency and capturing new growth opportunities. We made good progress in each of these areas during the period and will update fully on them at our preliminary results in March 2012.

The financial position of the Group remains strong and we have extended our borrowing facilities through the conclusion of a $250 million US private placement agreement over 15 years. Our programme to retire GBP1bn of equity over the two years to March 2013 continues. To date we have acquired and cancelled 103m shares at a total investment of GBP300m.

Outlook

As we anticipated at our interim results announcement in September, the economic environment has remained challenging during the third quarter. Morrisons focus on providing top-quality, fresh food and keen pricing, backed by an exciting and innovative range of promotions, has again met our customers' expectations.

We remain cautious on the overall economic environment and will continue to manage the business accordingly. Our good performance in the third quarter was in line with our expectations and the Board's financial outlook for the year remains unchanged.

*exc. VAT and reported in accordance with IFRIC 13

Excellent trending chart.

Nice, but getting towards a sell cycle surely?

Looks like it Harry - one I've not been in for a while - but a classic chart.

Morrisons to hire 7,000 for new stores and logistics

Morrisons has said it plans to hire more than 7,000 people in logistics and to staff new outlets.

The supermarket chain wants to open 25 new branches next year.

Half of the jobs at new stores are expected to go to former employees, the firm said. Three-quarters are likely to come from the local areas they serve.

Some 300 new positions are also planned at Morrisons' new regional distribution centre at Bridgwater, supplying food in south and south-west Wales.

"Despite the difficult economic conditions, Morrisons continues to have ambitious growth plans and that means we will be searching for people to join us in the communities in which we operate," said human resources head Norman Pickavance.

"We're committed to training our new colleagues so that they have the capability to move from the shop floor to the top floor."

Last month, Morrisons announced a 4.6% rise in sales in the three months to 30 October.

Post Christmas Trading Update.

RNS Number : 1840V

Morrison(Wm.)Supermarkets PLC

09 January 2012

News Release

Record customer numbers at Christmas for Morrisons

Wm Morrison Supermarkets PLC provides a pre close update ahead of its financial year end on 29 January 2012

Trading

In the 6 weeks to 1 January total sales* excluding fuel were up by 2.9% (5.6% including fuel). Like for like sales* grew by 0.7% (3.7% including fuel). In a challenging Christmas period for the consumer the Group has delivered sales growth in line with the market.

We have continued to focus on providing a winning combination of outstanding quality, sharp prices and innovative promotional offers, which resulted in an extra 800,000 customers per week shopping with Morrisons during the period. As expected, Christmas trading came late this year with a greater emphasis on fresh food playing to Morrisons traditional strengths.

Despite the pressures that the increased level of trading over the period brings, store standards, service levels and availability were excellent throughout, reflecting the robustness of our supply chain and the professionalism of our colleagues.

At our preliminary results announcement in March 2011 we announced a programme to retire GBP1 billion of equity over the next two years. The programme is ongoing and to date we have acquired 108.3m shares at a total investment of GBP316.6m. The Group's financial position remains strong and we expect full year net debt to be in the range of GBP1.4bn - GBP1.5bn.

Outlook

We had anticipated that 2011 would be challenging for the consumer and that we would be operating in a low growth sales environment. We planned our business on that basis and accordingly, the Board's expectations for the full year remain in line with its original assumptions.

In 2012 the UK consumer environment will remain cautious despite an anticipated reduction in inflationary pressures. Against this backdrop, our fresh, quality and value credentials continue to appeal to a growing customer base and we are well positioned to make further progress.

Commenting on Morrisons Christmas trading, Chief Executive Officer, Dalton Philips said;

"I am pleased that in a difficult trading environment we have continued to grow our business and have delivered another good performance in a very tough market. At Christmas, when customers are even more focused on great quality food at outstanding value, we really need to serve our customers well. We've done that and I thank all our 130,000 colleagues for their outstanding efforts."

*exc. VAT and reported in accordance with IFRIC 13