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

WM MORRISON SUPERMARKETS PLC

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Lidl to spend $19 billion over five years with British suppliers

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10/16/2019 | 05:17am EST
FILE PHOTO:  Lidl's logos are seen on its truck and the exterior of its new Scottish distribution centre as it commences operations in Motherwell, Scotland

LONDON (Reuters) - German-owned discount supermarket Lidl GB has vowed to spend 15 billion pounds ($19 billion) with British suppliers over the next five years, committing to increase sales of local meat, poultry and fresh produce.

Lidl and rival Aldi have changed the shape of the UK grocery sector, stealing market share from industry leader Tesco, Sainsbury's, Asda and Morrisons by offering cut-throat prices in no-frills stores.

To deepen its relations with British suppliers, Lidl, part of the Schwarz retail group, said it would introduce longer-term contracts with suppliers to help them invest and expand.

"Our business is only ever as good as our suppliers', so our investments and commitments are key to ensuring that they can invest and expand with us," said Ryan McDonnell, Chief Commercial Officer at Lidl GB.

Lidl GB currently trades from 770 stores and has a market share of 6%. It is planning to open 50-60 new stores across 2019.

Its sales rose 8.2% in the 12 weeks to Oct. 6, according to industry data published on Tuesday.

(Reporting by Kate Holton, editing by James Davey)

Stocks mentioned in the article
ChangeLast1st jan.
J SAINSBURY PLC -1.49% 204.97137 Delayed Quote.-21.51%
TESCO PLC -0.64% 232.3785 Delayed Quote.22.99%
WM MORRISON SUPERMARKETS PLC -1.24% 195.05 Delayed Quote.-7.43%
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Financials (GBP)
Sales 2020 18 023 M
EBIT 2020 511 M
Net income 2020 321 M
Debt 2020 1 992 M
Yield 2020 4,99%
P/E ratio 2020 15,2x
P/E ratio 2021 14,3x
EV / Sales2020 0,37x
EV / Sales2021 0,36x
Capitalization 4 766 M
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Technical analysis trends WM MORRISON SUPERMARKETS P
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 222,33  GBp
Last Close Price 199,15  GBp
Spread / Highest target 28,0%
Spread / Average Target 11,6%
Spread / Lowest Target -9,62%
EPS Revisions
Managers
NameTitle
David T. Potts Chief Executive Officer & Director
Andrew Thomas Higginson Non-Executive Chairman
Trevor John Strain CFO, Director & Chief Commercial Officer
Belinda Jane Carew-Jones Independent Non-Executive Director
Richard Colin Neil Davidson Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
WM MORRISON SUPERMARKETS PLC-7.43%6 134
SYSCO CORPORATION28.15%41 359
SEVEN & I HOLDINGS CO., LTD.-10.29%33 792
WOOLWORTHS GROUP LIMITED29.33%33 013
TESCO PLC22.99%29 730
AHOLD DELHAIZE N.V.10.10%29 578