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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Wm Morrison Supermarkets PLC    MRW   GB0006043169

WM MORRISON SUPERMARKETS PLC

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UK grocery sales growth accelerates as Eat Out scheme ends

10/13/2020 | 03:36am EST
FILE PHOTO: A Morrisons store is pictured in St Albans

LONDON (Reuters) - British grocery sales growth accelerated in September, reflecting the end of the government's "Eat out to Help out" scheme and its call for people to return to working from home to stem a second wave of COVID-19, industry data showed on Tuesday.

Market researcher Nielsen said grocery sales growth was 8.3% year-on-year in the four weeks to to Oct. 3, having increased 5.3% in the previous four week period.

It said that while it saw big jumps in sales of disinfectants (up 92%), toilet tissue (up 34%) and household cleaning accessories (up 24%), the levels were well below those seen during the peak of the pandemic, and do not suggest the return of panic buying.

However, last month market leader Tesco and No. 4 player Morrisons both reintroduced purchase limits on some products.

Nielsen said year-on-year growth of online sales was 91% as the major supermarkets continued to add delivery capacity.

Over the 12 week period to Oct. 3, Morrisons was the best performer of Britain's so called "big four" grocers, with sales up 8.7%.

Market leader Tesco saw growth of 6.5%, ahead of Sainsbury's on 5.1% and Asda on 3.4%.

Earlier this month the billionaire Issa brothers and private equity group TDR Capital agreed to buy Asda from Walmart in a deal which gave the British chain an enterprise value of $8.8 billion (6.8 billion pounds).

(Reporting by James Davey; Editing by Chizu Nomiyama)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
J SAINSBURY PLC 0.00% 216.5 Delayed Quote.-5.83%
TESCO PLC 0.04% 227.8 Delayed Quote.-10.74%
WALMART INC. -0.15% 151.6 Delayed Quote.27.57%
WM MORRISON SUPERMARKETS PLC -0.24% 183.6 Delayed Quote.-8.11%
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Financials
Sales 2021 17 624 M 23 456 M 23 456 M
Net income 2021 324 M 431 M 431 M
Net Debt 2021 2 362 M 3 144 M 3 144 M
P/E ratio 2021 14,1x
Yield 2021 5,90%
Capitalization 4 408 M 5 876 M 5 867 M
EV / Sales 2021 0,38x
EV / Sales 2022 0,34x
Nbr of Employees 98 000
Free-Float 99,6%
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Wm Morrison Supermarkets PLC Technical Analysis Chart | MRW | GB0006043169 | MarketScreener
Technical analysis trends WM MORRISON SUPERMARKETS PLC
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Average target price 199,00 GBX
Last Close Price 183,60 GBX
Spread / Highest target 20,4%
Spread / Average Target 8,39%
Spread / Lowest Target -12,9%
EPS Revisions
Managers
NameTitle
David T. Potts Chief Executive Officer & Director
Andrew Thomas Higginson Independent Non-Executive Chairman
Trevor John Strain Chief Operating Officer & Director
Michael Gleeson Chief Financial Officer
Paula Anne Vennells Independent Non-Executive Director
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