The Lemon Fool

For the nine weeks to 6 January, Group like-for-like* (LFL) sales excluding fuel were up 3.6%, comprising contributions from retail of 0.6% and wholesale of 3.0%. Group LFL including fuel was up 3.4%. Total sales* were up 4.0% excluding fuel (3.8% including fuel).

As has been widely reported, there was a change in consumer behaviour during the period. Morrisons performed well, sustaining a strong offer and trading the business hard for customers. We were again more competitive, with the price of our basket of key Christmas items the same as last year.

Customer satisfaction increased significantly. It is an important measure of our turnaround progress, especially during the busiest weeks ahead of Christmas and New Year. The strongest areas of improvement were colleague friendliness and checkout experience, which was thanks to the continued hard work and dedication of our team of food makers and shopkeepers.

idpickering wrote:Not received well on weak market opening it seems, with Morrisons down over 2%. Anyone tempted?

Ian.

Arborbridge wrote:

idpickering wrote:Not received well on weak market opening it seems, with Morrisons down over 2%. Anyone tempted?

Ian.

No, yield too low. However, it's a share I still hold and it bumbles along.
I'm surprised the inital reaction is down since these results look reasonable - the guy on Radio 4 thought they were OK - but maybe anything retail is regarded as suspect, particularly in view of Amazon flexing its muscles in this direction. There's a moral dilemma for me here, since Amazon and Morrisons are forging links and I do not want to help these disruptive insurgents.


Arb.

Arborbridge wrote:No, yield too low. However, it's a share I still hold and it bumbles along.
I'm surprised the inital reaction is down since these results look reasonable - the guy on Radio 4 thought they were OK - but maybe anything retail is regarded as suspect, particularly in view of Amazon flexing its muscles in this direction. There's a moral dilemma for me here, since Amazon and Morrisons are forging links and I do not want to help these disruptive insurgents.

Dod101 wrote:

Arborbridge wrote:No, yield too low. However, it's a share I still hold and it bumbles along.
I'm surprised the inital reaction is down since these results look reasonable - the guy on Radio 4 thought they were OK - but maybe anything retail is regarded as suspect, particularly in view of Amazon flexing its muscles in this direction. There's a moral dilemma for me here, since Amazon and Morrisons are forging links and I do not want to help these disruptive insurgents.

Retailing in general is not a good place to be. As for disruptive insurgents they are here to stay. In fact they have always been around. Look at what happened to the greengrocer, the baker etc. A new invention, a supermarket, where you could buy all these items under one roof came along.

Dod

Dod101 wrote:

Arborbridge wrote:No, yield too low. However, it's a share I still hold and it bumbles along.
I'm surprised the inital reaction is down since these results look reasonable - the guy on Radio 4 thought they were OK - but maybe anything retail is regarded as suspect, particularly in view of Amazon flexing its muscles in this direction. There's a moral dilemma for me here, since Amazon and Morrisons are forging links and I do not want to help these disruptive insurgents.

Retailing in general is not a good place to be. As for disruptive insurgents they are here to stay. In fact they have always been around. Look at what happened to the greengrocer, the baker etc. A new invention, a supermarket, where you could buy all these items under one roof came along.

Dod

Arborbridge wrote:Oops, yes Crazebe7, I've just noticed that includes specials - so actually not a bad yield at all - if it continues.
Because my June 2018 special was paid in a lump with the ordinary, I 've only just realised it was special!
So, I've amended my spreadsheet.

Arb.

Greggs are at a high quote....

· Total sales up 7.2%

· Company-managed shop like-for-like sales up 2.9% (H1: 1.5%, H2:4.2%)

· 149 new shops opened in the year, 50 closures

· 1,953 shops trading as at 29 December 2018

· Full year underlying profit before tax expected to be at least £88m

Arborbridge wrote:Your[sic] absolutely correct Dod, but the difference with these new kids on the block is how they do not contribute what they should to our society, - indeed are helping to undermine it -

UncleEbenezer wrote:

Arborbridge wrote:Your[sic] absolutely correct Dod, but the difference with these new kids on the block is how they do not contribute what they should to our society, - indeed are helping to undermine it -

You mean like opening shop in all those horrible edge-of-town locations convenient for nothing but the motorist? Yes of course that's been a force for marginalisation, disenfranchisement and social exclusion. Aren't you happy that today's trend is towards inclusion, as the rise of internet retailers presents new options for the less-mobile?

Bouleversee wrote:
Don't remind me, Dod. My father had grocery and bakery business and was doing OK till the supermarkets came along. Had he not developed MS in his thirties, he would probably have started his own chain as he was very ambitious and enterprising.

idpickering wrote:Bouleversee;

Greggs are at a high quote....

Greggs put their trading update out today;

· Total sales up 7.2%

· Company-managed shop like-for-like sales up 2.9% (H1: 1.5%, H2:4.2%)

· 149 new shops opened in the year, 50 closures

· 1,953 shops trading as at 29 December 2018

· Full year underlying profit before tax expected to be at least £88m

https://www.investegate.co.uk/greggs-pl ... 00015509M/