All eyes will be on Morrisons next week as it unveils its first set of financial results since its bid for Safeway.
Morrisons' annual results are out on Monday (March 17) and the company will be hoping to salvage its share price, which has steadily fallen since it made its all-share offer for Safeway back in January.
A major boost to this offer is needed if Morrisons is to have any chance of winning over Safeway shareholders. Only 0.67% of the shareholders accepted Morrisons' offer by the first closing date, February 21, and little increase was expected to this total by yesterday (March 14), the extended deadline date.
But, as the data below from ACNielsen shows, the picture for Morrisons is rosier when it comes to market share growth over the past year. Together with Asda, it continues to see the greatest year-on-year growth in market share. Both are up 0.3% for the 12 weeks ending February 22, 2003 compared with the quarter ending February 23, 2002.
Tesco, also a potential Safeway suitor, is showing growth compared to last year, up 0.1% according to our TradeTrak data.
But Sainsbury, the fourth grocery player in the Safeway auction, continues to see the largest year-on-year drop. It is down more than a full percentage point, by -1.2%, making it the biggest loser of all the supermarket chains.
The focus of all their attentions, Safeway, is the other major loser, with market share down by 0.6% year-on-year, although is has clawed some share back since our last TradeTrak report.
Of the other retailers, Waitrose and Somerfield have seen a small improvement in market share since our last report while Kwik Save is down.
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Morrisons' annual results are out on Monday (March 17) and the company will be hoping to salvage its share price, which has steadily fallen since it made its all-share offer for Safeway back in January.
A major boost to this offer is needed if Morrisons is to have any chance of winning over Safeway shareholders. Only 0.67% of the shareholders accepted Morrisons' offer by the first closing date, February 21, and little increase was expected to this total by yesterday (March 14), the extended deadline date.
But, as the data below from ACNielsen shows, the picture for Morrisons is rosier when it comes to market share growth over the past year. Together with Asda, it continues to see the greatest year-on-year growth in market share. Both are up 0.3% for the 12 weeks ending February 22, 2003 compared with the quarter ending February 23, 2002.
Tesco, also a potential Safeway suitor, is showing growth compared to last year, up 0.1% according to our TradeTrak data.
But Sainsbury, the fourth grocery player in the Safeway auction, continues to see the largest year-on-year drop. It is down more than a full percentage point, by -1.2%, making it the biggest loser of all the supermarket chains.
The focus of all their attentions, Safeway, is the other major loser, with market share down by 0.6% year-on-year, although is has clawed some share back since our last TradeTrak report.
Of the other retailers, Waitrose and Somerfield have seen a small improvement in market share since our last report while Kwik Save is down.
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