Sainsbury (J) (SBRY)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

277.20p
   
  • Change Today:
    -1.80p
  • 52 Week High: 310.40
  • 52 Week Low: 245.80
  • Currency: UK Pounds
  • Shares Issued: 2,374.17m
  • Volume: 13,742,365
  • Market Cap: £6,581m
  • RiskGrade: 132

Sainsbury's to close two Argos warehouses; 1,400 jobs at risk

By Michele Maatouk

Date: Tuesday 28 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Sainsbury's is planning to close two Argos warehouses in the next three years, putting 1,400 jobs at risk, it emerged on Tuesday.
The supermarket chain plans to close its Argos warehouse in Basildon, Essex, and another in Heywood in Greater Manchester by 2026.

The move will affect not just Argos staff but also HGV drivers employed by Wincanton.

Sainsbury's said all of its workers affected by the plans would be able to apply for jobs elsewhere in the company.

Chief executive Simon Roberts said: "As with any major change to our business, we have not taken the difficult decision to start this consultation lightly.

"As part of our plan to create a simpler business, we previously set out our intention to integrate our Argos and Sainsbury's logistics networks.

"Over the last few years, we've been working hard to transform this network as we make our business simpler, more efficient and more effective for customers. This also allows us to reduce costs, so we can invest where it will make the most impact for our customers."

The Unite union said in there was no "economic justification" for the closures.

Unite national officer Matt Draper said: "Management at Argos/Sainsbury's has yet to provide any form of business case for the loss of these jobs. Unite will be fighting to preserve every job and will put forward an alternative business case to the company to preserve employment at these two sites.

"This is an incredibly wealthy company which should be investing in its loyal workforce rather than dumping workers in pursuit of short-term profits.

"If Sainsbury's doesn't drop its closure plans then Unite will pursue all avenues to preserve employment at these sites."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sainsbury Market Data

Currency UK Pounds
Share Price 277.20p
Change Today -1.80p
% Change -0.65 %
52 Week High 310.40
52 Week Low 245.80
Volume 13,742,365
Shares Issued 2,374.17m
Market Cap £6,581m
RiskGrade 132

Sainsbury Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.71% above the market average75.71% above the market average75.71% above the market average75.71% above the market average75.71% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Price Trend
22.11% above the market average22.11% above the market average22.11% above the market average22.11% above the market average22.11% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Income
53.21% above the market average53.21% above the market average53.21% above the market average53.21% above the market average53.21% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
80.26% below the market average80.26% below the market average80.26% below the market average80.26% below the market average80.26% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average

What The Brokers Say

Strong Buy 3
Buy 4
Neutral 3
Sell 2
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sainsbury Dividends

  Latest Previous
  Final Interim
Ex-Div 06-Jun-24 09-Nov-23
Paid 12-Jul-24 15-Dec-23
Amount 9.20p 3.90p

Trades for 31-May-2024

Time Volume / Share Price
16:39 574,127 @ 277.20p
17:02 40,000 @ 276.42p
16:51 22,965 @ 277.20p
16:51 22,965 @ 277.20p
16:42 17,911 @ 277.20p

Sainsbury Key Personnel

Chair Martin Scicluna
CEO Simon Roberts
CFO Bl á thnaid Bergin

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