Following Sainsbury’s somewhat disappointing interim update this morning, chief executive Mike Coupe said the prospect of clarity from the Christmas general election could bring respite for the retail sector in the New Year.
Today’s update was always likely to be a subdued affair given that Sainsbury’s outlined many of its strategic changes for the future at its capital markets day in September.
While underlying pre-tax profits fell 15% year on year, Coupe was upbeat about the business’ forward trajectory.
Interest was focused on the prospects of Sainsbury’s, and the wider industry, as it approaches the most important time of the year.
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