Good Post Shezza,
My subscription to Decanter has expired !
How our Retailers are viewed by the city .....
WM Morrison spooked the market last week with a statutory loss after extraordinary items. Tesco and Sainsbury followed, as well as nearly 9% chipped off Mark & Spencers capital last Friday.
Majestic's market cap lost 65 Million (a fifth) after the week-end, down a pound to less than £4 a share after that news. A bit of a crunch, a serious downside from the city, and a sentiment that is spooking investors in Retail in general, this since the end of February.
It was very encouraging to see Majestic's buying director showing massive confidence in acquiring 500,000 shares. That shows real balls and belief in the business. Majestic at 395p this morning is a strong buy, so the analysts have not put their necks on the blocks
'ave they !
A sentiment and a confidence from Justin Althrop BD, not shown by certain very senior executives in our high street banks. I was looking at executive directors dealing in their own shares at the week-end. They get them free, as well as on offer (historical vesting at much lower than current market price) in their executive share schemes, and you can see who the tricky dickies are, at a glance.
My buyerpowa bid did not work for some convoluted reason (just timed out on card payment authorisation) so I shall next visit Majestic instead.