Follow our live blog for the latest updates and reaction to the news that Sainsbury’s has slumped to a £72m statutory loss, its first for a decade.
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Supermarket giant Sainsbury’s will unveil its full-year results tomorrow. Retail Week highlights five key areas to look out for.
Sainsbury’s has slumped to a £72m statutory loss, its first for a decade, as the supermarket giant’s sales dropped amid a relentless price war.
Sainsbury’s chief financial officer John Rogers believes margins in the grocery sector will “stabilise” at around 3% in the next few years.
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Tesco has outlined plans to launch convenience stores stocked only with its Tesco Finest in a bid to increase profit targets.
Sainsbury’s has said that since February it has reduced prices on more than 1,000 of its own-brand products as it continues to invest “to offer the customers the best choice”.
In the headlines last month came news that another US jury had awarded huge damages against the chemicals giant Monsanto – $2bn in this case, to a couple who successfully argued that use of the glyphosate-based weedkiller Roundup caused their cancers.
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