First-half profit is retailer’s lowest since 2010 and down from £375m final year,but performance is better than City analysts’ expectations Sainsbury’s has reported an 18% slide in profits, hit by lower sales and a fierce supermarket price war.
The retailer said it was expecting a “more buoyant” Christmas as it posted a profit before tax and one-off items of £308m for the 28 weeks to 26 September. The figure is Sainsbury’s lowest first-half profit since 2010 and down from £375m reported a year earlier. Continue reading...
Source: theguardian.com