Morrison (Wm) Supermarkets (MRW)

Sector:

Food Pharmacy Retail

Index:

FTSE 100

292.20p
   
  • Change Today:
      1.10p
  • 52 Week High: 293.80p
  • 52 Week Low: 161.75p
  • Currency: UK Pounds
  • Shares Issued: 2,419.46m
  • Volume: 4,996,209
  • Market Cap: £7,070m
  • RiskGrade: 95

UK supermarkets fear panic-buying amid 'pingdemic' fiasco

By Frank Prenesti

Date: Thursday 22 Jul 2021

LONDON (ShareCast) - (Sharecast News) - British supermarkets have called on the government to include the sector in its plan to exempt critical workers from isolation if they have been "pinged" by the NHS Covid test-and-trace app amid fears of food shortages on shop shelves.
They also urged shoppers not to panic buy, fearing a repeat of last year when the pandemic struck amid ugly scenes of customers fighting over essential goods as shelves were emptied within hours.

Industry bosses said they were under "increasing pressure" to keep shelves fully stocked as the so-called "pingdemic" forced thousands of workers to self-isolate.

They want supermarket staff, truck drivers and other frontline workers to be exempted from 10-day self-isolation under a proposed scheme that would see staff to return to work after a PCR test and daily lateral flow tests.

However, the government has yet to publish a list of which sectors can take part in the scheme with the added complication that exemptions will be considered on a case-by-case basis.

Andrew Opie, director of food at the British Retail Consortium , said staff shortages could have an impact on opening hours and shelf stacking.

"The ongoing 'pingdemic' is putting increasing pressure on retailers' ability to maintain opening hours and keep shelves stocked. Government needs to act fast," said Opie.

"Retail workers and suppliers, who have played a vital role throughout this pandemic, should be allowed to work provided they are double vaccinated or can show a negative Covid test, to ensure there is no disruption to the public's ability to get food and other goods."

RETAILERS UNDER PRESSURE

Grocery chain Iceland is aiming to recruit 2,000 spare staff to help cover staff shortages, adding that it had reduced trading hours and even shut some stores.

The chain's managing director Richard Walker said more than 1,000 workers - just over 3% of the group's total - had been asked to self-isolate after being pinged by the app.

He said some stores experiencing much higher vacancy rates than others - while the number of people having to isolate was "growing about 50% week on week, and that was really alarming".

"Supermarkets need to focus on feeding the nation not writing to government departments," he said. He said that about 96% of those alerted by the NHS app who worked for Iceland did not test positive for Covid-19.

"Our big concern is that we've kept all of our shops open throughout the pandemic, but now we have had to close one or two shops and reduce hours in others.

"But that could get a lot worse a lot quicker, unless the country's system is sorted out."

However, Walker urged shoppers not to panic buy, saying: "There is certainly no problem with supply of stock. Panic-buying is only an option for those who can afford it and it often means that others go without."

Tesco said it had run out of bottled water in its warehouses, while the Co-op said supplies at "a large majority" of its stores had been disrupted to "due to the impact of Covid/isolation of colleagues".

"This is a short-term but significant impact and has impacted our ability to supply stores. These issues are impacting a large majority of Co-op stores," a Co-op spokesperson said.

The self-isolation problem is adding to shortages of delivery workers, especially truck drivers, caused by a mix of Brexit, Covid and changes to tax rules.

BP said industry-wide lorry driver shortages were causing temporary fuel supply issues which saw a "handful" of its UK sites close temporarily. The oil giant's supply chain had also been affected by the closure of a fuel distribution terminal because of Covid isolations among staff last week.

However, BP told the BBC the "vast majority" of shortages were "resolved within a day".

Royal Mail said that, in a "limited number of areas", services were being disrupted due to Covid-related absences.

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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.

 

Morrison Market Data

Currency UK Pounds
Share Price 292.20p
Change Today 1.10p
% Change 0.38 %
52 Week High 293.80p
52 Week Low 161.75p
Volume 4,996,209
Shares Issued 2,419.46m
Market Cap £7,070m
RiskGrade 95

Morrison Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
38.16% above the market average38.16% above the market average38.16% above the market average38.16% above the market average38.16% above the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
82.19% above the market average82.19% above the market average82.19% above the market average82.19% above the market average82.19% above the market average
86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average86.67% above the sector average
Income
24.65% below the market average24.65% below the market average24.65% below the market average24.65% below the market average24.65% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Growth
66.62% below the market average66.62% below the market average66.62% below the market average66.62% below the market average66.62% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 9
Sell 1
Strong Sell 0
Total 10
neutral
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Morrison Dividends

  Latest Previous
  Final Special
Ex-Div 20-May-21 17-Dec-20
Paid 28-Jun-21 25-Jan-21
Amount 5.11p 4.00p

Trades for 24-Sep-2021

Time Volume / Share Price
16:35 1,424,612 @ 292.20p
16:29 1,250 @ 292.10p
16:29 46 @ 292.10p
16:29 420 @ 292.10p
16:29 90 @ 292.10p

Morrison Key Personnel

COO Trevor Strain
Chair Andrew Higginson
CEO David T Potts
CFO Michael Gleeso

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