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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  J Sainsbury plc    SBRY   GB00B019KW72

J SAINSBURY PLC

(SBRY)
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Sainsbury's to double pre-COVID-19 online capacity by end of October

09/28/2020 | 10:51am EST
FILE PHOTO: The spread of the coronavirus disease (COVID-19) in Durham

Sainsbury's, Britain's second largest supermarket group, will have doubled its pre-COVID-19 pandemic online capacity by the end of next month, it said on Monday.

It said it will be able to handle 700,000 online grocery orders a week - a combination of home delivery and click and collect - by the end of October, meaning it will have doubled capacity since the beginning of March.

Online grocery shopping has gone from around 7% of the UK market at the start of the pandemic to about 15% currently and pure online player Ocado reckons it could reach 30% over the next few years.

To meet demand Sainsbury's has added almost 200 new click and collect locations and nearly 1,000 more online delivery vans in comparison with last year. The group is also extending delivery times from 6:30 AM to 11:30 PM so it can serve more customers.

Britain's big four grocers - market leader Tesco, Sainsbury's, Walmart owned Asda and Morrisons - were quickly able to adapt their predominantly store-pick model to boost online capacity, enabling them to deliver growth and win share in the short term.

In contrast Ocado's capital-intensive and centralised fulfilment model meant it has not been able to dramatically increase its capacity during the crisis.

(Reporting by James Davey, Editing by Paul Sandle)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
J SAINSBURY PLC -2.33% 213.5 Delayed Quote.-7.13%
OCADO GROUP PLC -0.72% 2213 Delayed Quote.73.03%
TESCO PLC -0.92% 226.5 Delayed Quote.-11.25%
WALMART INC. -0.26% 148.91 Delayed Quote.25.30%
WM MORRISON SUPERMARKETS PLC -1.99% 174.8 Delayed Quote.-12.51%
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Financials
Sales 2021 29 144 M 39 161 M 39 161 M
Net income 2021 -62,8 M -84,4 M -84,4 M
Net Debt 2021 6 889 M 9 257 M 9 257 M
P/E ratio 2021 32,4x
Yield 2021 6,51%
Capitalization 4 733 M 6 376 M 6 360 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,38x
Nbr of Employees 111 900
Free-Float 96,2%
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 231,39 GBX
Last Close Price 213,50 GBX
Spread / Highest target 28,8%
Spread / Average Target 8,38%
Spread / Lowest Target -15,7%
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Managers
NameTitle
Simon John Roberts Chief Executive Officer & Director
Martin A. Scicluna Chairman
Kevin O'Byrne Chief Financial Officer & Director
Richard Philip Newsome Chief Technology Officer
Phil Jordan Group Chief Information Officer
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