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...A bid of 360p a share would be a “reasonable take-out price”, he added. EP said Royal Mail was in a “challenging situation”....
...On Friday, Debra Crew, in charge only since June, had to admit that drinks group Diageo had an inventory problem in its fastest-growing region, Latin America and Caribbean (LAC)....
...The boss of J Sainsbury said shoppers were starting to splurge on certain items after two years of shopping for bargains, as Britain’s second-biggest supermarket forecast rising profits this year....
...Analysts were unimpressed by Diageo chief executive Debra Crew’s initial handling of the warning....
...Across the group sales volumes were down 9 per cent, with a like-for-like decline of 5.2 per cent, and it reported a 4.6 per cent increase in its price mix measure — most of which was driven by price hikes...
...Diageo chief executive Debra Crew said at the CAGNY conference of consumer analysts in Miami last month that prices would “normalise to one to two points of growth in line with historical pre-Covid levels...
...The share price drop left Diageo the biggest faller on the blue-chip FTSE 100 index on Friday....
...Two days later Alan Greenspan famously asked whether stock prices reflected “irrational exuberance”....
...Lower promotional prices in the period “positively impacted performance”, according to chief executive Alex Whitehouse, and prices will be cut on products including Loyd Grossman cooking sauces and Mr Kipling...
...J Sainsbury’s fresh plans to boost shareholder returns and cut a further £1bn in costs over the next three years drew a lukewarm response from investors on Wednesday after the supermarket chain also disclosed...
...Lex’s back-of-the-envelope calculations, based on sector price/earnings ratios, suggest a valuation of perhaps £100mn for Sainsbury’s Bank and under £600mn for Tesco....
...Rival J Sainsbury launched its rival scheme, Nectar Prices, in April. Sainsbury’s said at its half year results it had added more than 3mn Nectar card members since April. It now has 18mn members*....
...J Sainsbury was among the biggest fallers on the FTSE 100 on Wednesday after strong grocery sales failed to allay concerns over its struggling general merchandise business....
...Like, it is a sales tactic to say like, the problem I had is a problem I invented for myself that I have now solved for me and for you, with the price of four easy payments of whatever. And so . . ....
...Hankey’s businesses flourished during the coronavirus pandemic, as consumers, helped by government assistance, were flush with cash, and car prices were driven up by supply chain problems....
...Diageo and Debra will be in the penalty box until the second half of next year.”...
...J...
...A pioneering rewards card allowed Tesco to overtake rival J Sainsbury nearly 30 years ago. On Tuesday it was the latter’s turn to credit a loyalty scheme for rising market share....
...That would give them firepower in a price war. This would forestall any revival of populist anti-grocerism. Campaigns against Tesco in the noughties failed largely because its prices were too low....
...Letter in response to this article: UK cost of borrowing is higher for a reason / From J Paul Horne, Alexandria, VA, US...
...“Many of the medicines selected for price setting already have significant rebates and discounts due to the robust private market negotiation that [already] occurs,” said Stephen J Ubl, Phrma chief executive...
...New data on consumer prices will be published on Wednesday....
...In August, Wetherspoons pushed through a 5 per cent price rise in food prices according to people familiar with the details....
...At market close, the stock price was about £3.03 per share....
...On Monday J&J shares fell about 4 per cent — or $17bn — of value on fears the talc litigation could continue for years....
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