Supermarkets expect to relatively outperform the retail sector

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UK supermarkets forecast to relatively outperform the retail sector

0813 GMT – Shore Capital says it cannot be sure UK supermarkets’ overall revenue, or their supply chains, will be immune to the effects of the current cost inflation environment. However, the nature of the grocery store means it will retain resilient economic characteristics assuming effective UK government intervention, especially as the supermarket’s balance sheets and solvency ratios are strong and robust, the group says. British investment in a note. “In such contexts, supermarkets will likely continue to outperform more discretionary retail as a whole relatively,” Shore said. ([email protected]; @sabelaojeaguix)

 
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Market Talk: 

Bunzl drops as margin outlook disappoints investors

08:41 GMT – Shares of Bunzl topped the FTSE 100 fallers, down 4% after the retail group’s margin forecast disappointed investors. “While it has raised its operating margin outlook, it is still expected to fall for the full year compared to 2021,” Interactive Victoria Scholar’s chief investment officer said in a note, adding that while demand for the company’s products has increased during the pandemic, it has faced tougher times as conditions have become more normal. “Global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June, but since the lows, Bunzl has been on a strong uptrend, rallying more than 20%. Shares are returning some of that earnings today.” ([email protected])

Bunzl shares disappointing outlook

08:34 GMT – Shares of Bunzl fell early in the session after its first-half earnings disappointed investors, according to Interactive Investment. The retail and outsourcing group raised its operating margin outlook, but still expects its 2022 margin to decline year-over-year, Victoria Scholar, head of markets at Interactive Investor, said in a research note. “The stock initially fell to the bottom of the FTSE 100, losing more than 5%, but has since pared some of those losses,” Scholar said. Global geopolitical uncertainty and equity market turmoil weighed on the stock between April and June, but since the lows, Bunzl has been on a strong uptrend, rallying more than 20%. Stocks are giving back some of those gains today, says Interactive Investor. The shares are down 4.2% at 2,984.0 pence. ([email protected])

 

Contact: London NewsPlus; [email protected]

(END) Dow Jones Newswire

August 30, 2022 06:06 ET (10:06 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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