Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BOOKER GROUP PLC. We currently have 7 research reports from 2 professional analysts.
|29Mar17 15:20||RNS||Form 8.3 - Booker Group Plc|
|29Mar17 15:19||PRN||Form 8.3 - Booker Group Plc|
|29Mar17 15:15||GNW||Davidson Kempner Capital Management LP : Form 8.3 - Booker Group PLC|
|29Mar17 15:00||GNW||P. Schoenfeld Asset Management LLP : Form 8.3 - Booker Group plc|
|29Mar17 14:53||RNS||Form 8.3 - Booker Group Plc|
|29Mar17 14:47||RNS||Form 8.3 - Booker Group plc|
|29Mar17 14:37||RNS||Form 8.3 - Tesco PLC|
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Research reports on
BOOKER GROUP PLC
BOOKER GROUP PLC
16 Sep 16
"Have the central banks run out of ideas? Traders are hearing this common narrative, and it's starting to worry. Globally ultra-low rates are on offer everywhere while every viable corner to apply stimulus has been sought out, but all to little net effect. Yesterday, Bundesbank President, Jans Weidmann, even took the opportunity to remind the European Central Bank that its easy-money policies could curb productivity, undermine banks' ability to lend while keeping inefficient enterprises alive. His views are shared by other senior bankers who are keen to stop even deeper ECB interventions in financial markets and fire similar warning shorts across Mario Draghi's bows. A week before the FOMC gathers for its September meeting, with members having already openly aired their sharply contrasting opinions, many are now suggesting that, as difficult as it sounds, some sort of concerted, global political intervention will be required to help policymakers recreate globally sustainable economic conditions, with a view to first getting growth and inflation back on predictable trend. All very worrying, but Ignoring the bigger picture for now and instead playing the shorter game, the principal US indices all rose broadly yesterday, led by the expectation interest rates will remain unchanged this month, tech stocks put in good gains while also seeing some recovery of previous day losses for energy stocks. This was enough for all 30 components of the Dow to close higher. With the Chinese, Hong Kong and the South Korean markets closed in Asia for their Mid-Autumn Festival holiday, Japan traded higher as its tech stocks followed the NASDAQ's lead and the ASX saw major commodity plays regain some of their confidence. Today's EU summit in Slovakia should grab some headlines, as leaders contemplate life without the UK and the Union's future existential challenges. The UK is not scheduled to release any important macro data and no major corporates are due to release earning figures today, although investor's will be keen to hear a response from Deutsche Bank which learned overnight of the US$14bn penalty proposed by the US to resolve the ongoing mortgage probe in its territory. The FTSE-100 is seen drifting some 10 points lower during opening trade on relatively light volumes." - Barry Gibb, Research Analyst
07 Jul 16
"The Fed's apparent adoption of a 'wait and see' approach on how and when to proceed with its next interest rate move, effectively reversing previous signals that pointed at a move to higher rates this summer, is today likely to help European equities recover some losses of recent days. The FTSE-100 is seen opening up some 65 points, with the French and German markets rising similarly, while the US dollar may give back some of its exceptional post-Brexit gains ahead of Friday's US Jobs data, which could provide a repeat of last month's gloomy reading. Picking up this mood, US equity indices recovered from a weaker opening to close with modest gains on bargain hunting. Asia was mixed in early morning trade, with the Nikkei giving back early advance as the Yen continued to strengthen while the Shanghai Composite continued to reflect doubts about China's economic wellbeing; Australia's ASX held onto commodity-led gains despite S&P lowering the Country's rating outlook to negative. Macro releases due from the UK this morning include Industrial Production data and the Halifax house price index. Amongst UK corporates, expect Q1 figures from Marks & Spencer, full year numbers from Sports Direct and a trading update from AB Foods." - Barry Gibb, Research Analyst
Argos and broader non-food offer to defend market share
28 Sep 16
Q2 total sales fell by 0.4% and by 1.1% on a lfl basis. The retail business (excluding Argos) generated almost flat sales compared to Q2 15 but was still experiencing a negative trend on a lfl basis. The good news came from Argos’s recovering business, where revenues impressed with 2.8% growth in H1 following a promising Q2. Sainsbury strengthened its network by opening nine new convenience stores and one supermarket. Sales of groceries online showed an 8% increase (in line with last quarter’s) despite the decrease in both customer orders and basket size. The stock lost 3.27% this morning.
Reaching new terms with Ocado
10 Aug 16
Morrisons agrees new terms with Ocado that will enable it to reach customers nationwide. Under the new terms, Morrisons will be released from a profit-sharing agreement (between ¼ and ½) of earnings. Also, it would not share fees for research and development (£4m). The deal states that Morrisons rents 30% of Ocado’s new warehouse. According to management, the new terms would lift the company’s profit by £50-100m per year in the mid-term. Ocado will still be prohibited from serving Tesco, Sainsbury, Asda and the German discounters. Wm Morrison’s share climbed by 1.86% yesterday, boosting its performance over the last week to 6.92%.
Worries about new tax dampened
21 Sep 16
Yesterday, the European Commission announced through a press release that it has opened an in-depth investigation into Poland’s tax on the retail sector. The European Commission has also issued an injunction, requiring Poland to suspend the application of the tax until the Commission has concluded its assessment. It is worth noting that Poland adopted, in July 2016, a new tax to be applied to retail companies operating in Poland. The tax entered into force on 1 September 2016, and no payments are due yet.
On the right track
05 Oct 16
THe Q2 figures witnessed a third consecutive lfl positive growth leading to a H1 16 sales improvement of 1.0% on a lfl basis. H1 sales stood at £24.4bn (£27,338m including fuel) following a promising Q2 (0.9% in the UK and 2.1% for international markets). Tesco’s sales have benefited from the increase in both volume and transactions in all markets. All formats – including the largest and the Extra formats – saw an improving trend in lfl sales performance throughout the half. H1 operating profit came in at £596m, i.e. a 2.2% operating margin and management expects £1.2bn for the whole year. This positive trend in the margin will continue according to management and reach 3.5-4.0% by 2019/20. Net debt decreased to £4,352m but total indebtedness surged by £3,400m with a ballooning pension deficit due to low UK bond yields, in the aftermath of Brexit.