Mike Coupe will set out his battle plans for Sainsbury’s this week in a bid to convince investors that the supermarket can keep pace in the changing market.
Sainsbury’s new chief executive will reveal the results of a strategy review on Wednesday when the retailer delivers interim results. It will be Mr Coupe’s first public statement since taking the reins from City favourite Justin King in July and comes against a backdrop of poor performance from the traditional “Big Four” supermarkets.
A further drop in Sainsbury’s sales is expected and Mr Coupe desperately needs a way to stem the flood of middle-class shoppers defecting to the likes of Aldi and Lidl. There are also fears that Sainsbury’s may be forced to cut its dividend, with Shore Capital’s Clive Black noting that the divi has been “a central feature of the investment case for many years”.
Carr’s Milling Industries has full-year results today, while Aveva and e2v Technologies have interim figures. Hammeron, Hiscox, Just Retirement, Morgan Advanced Materials, Redrow and Trinity Mirror all have management statements and Lonmin has a production report.
Fenner has finals tomorrow, while Blinkx, Energy Assets, Liontrust Asset Management and Oxford Instruments have interim results. Capita, Centaur Media, CRH, Tarsus and Taylor Wimpey all have quarterly figures.
Punch Taverns will update on full-year performance Wednesday, with investors no doubt keen to hear the group’s plans now it has finally completed its long-running debt restructure. Burberry, Flybe, SSE and Workspace have half-year numbers, while CSR, the microchip designer being swallowed up by Qualcomm, has third-quarter figures. Safestore has a trading statement and Barratt Developments, Brit, Cape, Derwent London, EnQuest, G4S, Interserve, Kier, Moneysupermarket.com, SIG, Tullow Oil and Tyman all have management updates.
The week comes to a close with interims from Castings, Record and Stanley Gibbons. Aggreko, Hill & Smith, IMI, Premier Farnell, Garfunkle’s owner The Restaurant Group and Rotork all have updates.
Sainsbury’s need to stem the tide of shoppers defecting to Aldi
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