Sainsbury’s joins UK retailers’ £1bn profits club but warns of flat year ahead
Supermarket to close two of its five non-food warehouses to save £70m a year, putting jobs at riskBusiness live – latest updatesSainsbury’s has joined Tesco, Next and Marks & Spencer as one of a handful of retailers who have made £1bn in profits, but it does not expect to beat that figure this year amid rising costs and price competition.Simon Roberts, the chief executive of Sainsbury’s, indicated that the group was ready to take on Asda, which has pledged to cut prices in an attempt to win back market share, saying his business was “committed, above all else, to sustaining the strong competitive position we have built – consistently giving customers the great value they have come to expect”. Continue reading...
Supermarket to close two of its five non-food warehouses to save £70m a year, putting jobs at risk
Sainsbury’s has joined Tesco, Next and Marks & Spencer as one of a handful of retailers who have made £1bn in profits, but it does not expect to beat that figure this year amid rising costs and price competition.
Simon Roberts, the chief executive of Sainsbury’s, indicated that the group was ready to take on Asda, which has pledged to cut prices in an attempt to win back market share, saying his business was “committed, above all else, to sustaining the strong competitive position we have built – consistently giving customers the great value they have come to expect”. Continue reading...
