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

When is exdiv day??

11th of May '11

thanks harry.

Sainsbury's results were well below expectations. The worry is that Tesco & Morrisons will suffer the same fate as the recession bites. Everyone still wants food, but looks like the discounts brands (smaller profit margin) are in demand and the total amount spent on each shopping trip is dropping dramatically.
From Evo Securities:
Consumers under pressure, rising inflation and excess capacity are resulting in poor like for like sales. many have been in denial about new capacity but JS has added 8.5% more space, Tesco will have added c6.5% and Morrisons has just substantially increased its opening plans. In fact, Tesco and Sainsbury between themselves are opening more space than there is growth across the entire industry. But with the consumer facing falling disposable income, sales are being spread more thinly hence the underlying negative LFL sales. The UK has never seen sustained negative LFL sales across the industry before, but economics and mathematics suggest that this will be the new norm for the foreseeable future. There is not enough soft market share left with weaker players to feed the ambitions of the Big 4. remember that outside the Big 4 we also have aggressive expansion by others like Waitrose, Aldi, Lidl etc.
The read through from these numbers is bad news for the industry. We have not seen market share data yet which covers March this is due next week and it could be a shocker. It seems that the market research agencies have been reporting sales data that is proving optimistic compared to the reality.

how on earth can Waitrose with far better quality and results than Sainsbury's be equated with stores at the bottom of the pit like Aldi and Lidl?

they can not .they are the top of all s/m

exactly so and to my mind MRW has carved out its own niche based on quality and fresh produce too

have you ever been into Aldi/Lidl? ..... i went into one of them in france and did a quick about turn .... it was absolute rubbish .... it may have appeal in toxteth, but not in "middle england"

Beg to disagree Cynic Agreed Lidl a bit off putting when you go through the door and would'nt advocate a 'whole' shop but they do keep some v good ranges - eg 'Which' best buy washing powder, Dish washer tablets also get a high rating. Also some very good offers anyway has appeal enough for a visit for selected items from this little bit of "middle Ireland"

added today

so far mrw have bought back 16m

mrw will be over 310p in 4 weeks cert

why should we believe you lol? .... just for the record, i'm comfortably o'weight with these

cynic i have just added 8712 at 277.95 very happy not showing but my nom account it does not always show

cynic big buyers will be moving in soon like next 2 weeks could it 320p

tread carefully my friend, for you leave yourself wide open for being teased or even abused

cynic i am thinking of not posting at all . good luck to you .

cynic i am thinking of not posting at all . good luck to you .

they have so far today bought over 1m back

Broker note today:

Sanford C. Bernstein & Co......

WM Morrison Supermarkets

FTSE 100 Consumer

Non-cyclical

Rating 'Outperform'

Target price 350p

thanks tank.will buy