One of the big four supermarkets in the UK, they have approximately 500 stores across the UK.
In my opinion Morrisons lost their way when they bought Safeway. They tried to go big by buying a failing company. They have never recovered and are like a ship with a broken engine drifting listlessly across the ocean. I’m surprised no one has tried to buy them out. Might happen this year. It’s a shame as it used to be a decent company.
A little harsh on Morrisons so I thought I’d add this which might give a bit more info to re-evaluate your postion.
Morrisons reward scheme going online only.
I thought their loyalty scheme was flawed anyway, as it gave a voucher to spend in store from things earned outside the store. For me, at least, it didn’t encourage shopping at the supermarket, only buying fuel in the garage.
What’s hammering the price down at the moment?
Probably similar to other retailers this week announcing the costs of covid precautions Takings went massively up but so did overheads by more.
Similar to above post r.e. cost of covid out weighing profit.
The cost of covid (in store measures, sick leave etc) will never be recovered.
As for the increase in sales, I dare say as more and more outlets open with reduced lockdown measures peoples spending will diversify.
So whatever increase in sales has been seen may well be reversed or even undermined as people start hitting the bars, restaurants and other places for “special buys”.
Same could be said for Amazon’s record sales, however amazon are quite good at consolidating their position (and not spending big on covid measures) so probably not that bad for companies like them
I’m hoping this will make me some £££, been disappointed with my Morrisons investment
You and me both. I’ve been waiting for some while for this, although takeover rumours have been swirling for some time. Looking forward to seeing what happens on Monday.
I knew this stock was going to go up so I invested before they opened.
Will I get the price when the market opened or when it goes through at 10am? Thanks
You know the market opens at 8am not 10am, right? And it’s pointless buying now as the price is higher than it’s been for 24 months after a 30% rise…
Yes but the message says it will start processing at 10, hence why I’m not sure if I’ll get the 8am price or 10am price, if you get me?
I believe the market order is placed at 10am, so you’d get the current price at that time.
I don’t understand why the orders are placed so late, other than to reduce the load on the servers as first thing in the morning the market is incredibly busy and it’s hard to place orders anyway.
@Crosshair22 Looks like we done well out of this…
30% up so far this morning…
So do we now sell up of see if we get further rises in price