Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Wm Morrison Supermarkets PLC
  6. News
  7. Summary
    MRW   GB0006043169

WM MORRISON SUPERMARKETS PLC

(MRW)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aldi to invest $1.8 billion in British growth push

09/27/2021 | 02:54am EDT

* Plans 100 new stores

* To create 2,000 new jobs

* 2020 sales up 10.2%, profit down 1.2%

* Says weathering supply chain disruption

LONDON, Sept 27 (Reuters) - German discount supermarket group Aldi will invest 1.3 billion pounds ($1.8 billion) in Britain over the next two years, opening a new store every week to try to accelerate its rapid growth in market share, it said on Monday.

The retailer plans to open another 100 new stores in Britain, expand its logistics infrastructure, including a new distribution centre in central England, and invest in technology.

It will create more than 2,000 new British jobs next year, adding to the 7,000 permanent roles created over the past two years.

"Around 88% of British consumers want to shop in stores ... There's no doubt that bricks and mortar is the focus for our business," Giles Hurley, the CEO of Aldi's business in Britain and Ireland, told reporters.

Aldi and German rival Lidl have grown rapidly in Britain over the last decade, forcing the established big four supermarkets - Tesco, Sainsbury's Asda and Morrisons - to cut prices and compete more aggressively.

Aldi is now Britain's fifth-largest supermarket group. It currently trades from 920 UK stores and has an 8% market share.

However, its share edged lower at some points during the pandemic, partly due to a lack of a significant online business.

The British and Irish business, privately-owned by Aldi Sud , said 2020 sales rose 10.2% to a record 13.5 billion pounds, but operating profit fell 1.2% to 287.7 million pounds, reflecting the costs of COVID-19.

The crisis prompted the business to accelerate its push into home delivery via a partnership with Deliveroo. It also introduced a click-and-collect service that's now live in 200 stores, and is trialling a checkout-free concept store in Greenwich, southeast London.

BETTER PLACED

Hurley said although no UK retailer could be immune from current supply chain disruption, Aldi was better placed than rivals.

Aldi's limited product range means it has a smaller supplier base, while the majority of products it sources for its British stores come from local suppliers and manufacturers.

"That means our supply chain is just that little bit shorter and easier to control," he said.

Hurley also noted that the majority of its drivers are directly employed.

"It's very much business as usual. Yes things are tighter but our trucks and our deliveries are rolling across the UK, our stores are full and we'd encourage customers to shop as normal," he said.

The CEO said nobody in the market could guarantee there would not be inflation this Christmas.

"What I am able to guarantee is that customers will always get the lowest prices in Aldi irrespective of what the future holds."

($1 = 0.7311 pounds) (Reporting by James Davey Editing by Pravin Char and Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DELIVEROO PLC 2.09% 282.9 Delayed Quote.0.00%
J SAINSBURY PLC 0.30% 296.6 Delayed Quote.31.53%
TESCO PLC 0.71% 267.9 Delayed Quote.15.77%
WM MORRISON SUPERMARKETS PLC 0.11% 285.4 Delayed Quote.60.92%
All news about WM MORRISON SUPERMARKETS PLC
10/15FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
10/13FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
10/12WM MORRISON SUPERMARKETS : Form 8.5 (EPT/RI) Morrison (Wm.) Supermarkets plc *** AMENDED *..
AQ
10/11FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
10/11WM MORRISON SUPERMARKETS : Form 8.5 (EPT/RI) Morrison (Wm.) Supermarkets plc
AQ
10/11WM MORRISON SUPERMARKETS : HSBC Bank Plc - Form 8.5 (EPT/RI) - Wm Morrison Supermarkets pl..
AQ
10/07WM MORRISON SUPERMARKETS : Form 8.3 - Wm Morrison Supermarkets plc
AQ
10/07FORM 8.3 - THE VANGUARD GROUP, INC. : Wm Morrison Supermarkets plc
DJ
10/06WM MORRISON SUPERMARKETS : Morrisons to Create 3,000 Jobs to Prepare for Holiday Rush
MT
10/06Tesco defies supply chain challenges to lift profit outlook
RE
More news
Analyst Recommendations on WM MORRISON SUPERMARKETS PLC
More recommendations
Financials
Sales 2022 18 050 M 24 817 M 24 817 M
Net income 2022 322 M 442 M 442 M
Net Debt 2022 2 708 M 3 724 M 3 724 M
P/E ratio 2022 21,2x
Yield 2022 2,59%
Capitalization 6 887 M 9 478 M 9 470 M
EV / Sales 2022 0,53x
EV / Sales 2023 0,51x
Nbr of Employees 118 000
Free-Float 98,2%
Chart WM MORRISON SUPERMARKETS PLC
Duration : Period :
Wm Morrison Supermarkets PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WM MORRISON SUPERMARKETS PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 285,40 GBX
Average target price 270,78 GBX
Spread / Average Target -5,12%
EPS Revisions
Managers and Directors
David T. Potts Chief Executive Officer & Director
Michael Gleeson Chief Financial Officer & Director
Andrew Thomas Higginson Independent Non-Executive Chairman
Trevor John Strain Chief Operating Officer & Director
Rooney Anand Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
WM MORRISON SUPERMARKETS PLC60.92%9 478
WALMART INC.-2.50%391 923
SYSCO CORPORATION10.72%42 119
WOOLWORTHS GROUP LIMITED2.19%37 714
AHOLD DELHAIZE N.V.20.94%33 170
THE KROGER CO.21.51%28 697