No Surprises in Morrisons' 2018 Results as Wholesale Leads the Way; Shares Fairly Valued
Wm Morrison reported results for the 52 weeks to Feb. 3, with group sales up 2.7% (3% in our model), like-for-like sales excluding fuel up 4.8% for the year (3.8% for the fourth quarter versus 2.8% a year ago), supported by the retail (up 1.5% versus 1.9% in our model)Â and wholesale (up 3.3% versus 1.8% in our model) channels, while fuel sales were up 1% (5% in our model), broadly in line with our full-year expectations. Morrison reaffirmed its incremental profit before tax guidance of GBP 75 mi...Morrisons (Wm) Supermarkets is engaged in the grocery retailing in the U.K. Through its subsidiaries, Co.'s principal activities include include the acquisition of food products, property management, maintenance and investment, manufacturing and distributing of food products, insurance captive, preparation and supply of seafood, meat processing, manufacturing of morning goods and bread, produce packer and purchaser, grocery retailer and pharmaecutical license holder. As of Jan 29 2017, Co. operated a total of 491 stores, 334 petrol filling stations, 401 cafes and 118 pharmacies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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