UK: J Sainsbury confirms rumours of profit warning
UK supermarket group J Sainsbury has issued a clarification statement, confirming recent press speculation that its half-year profits will be below market expectations.
The company said that underlying profits before taxation for the half year ended 9 October 2004 are expected to be within a range of £125m (US$224.4m) to £135m, compared to £366m a year earlier.
Sainsbury's had come under pressure from the Financial Services Authority to make a statement ahead of its scheduled trading update after increasing analyst and press speculation.
The retailer reiterated that it is conducting a thorough business review, the conclusion of which will be announced on 19 October.
"While this review is not yet completed, the company is not in a position to give any guidance on the future expectations for the full year, but guidance will be given as part of the presentation of the business review," the company said.
Buying power is often used by supermarkets to negotiate with their suppliers to get lower prices. These savings can then be passed onto the consumer in terms of price cuts and promotions. But do consu...
UK supermarket chain Sainsbury's is to sell kiwifruit grown in the UK next year, in what will be the first time a UK-grown version of the fruit has gone on sale here....
UK grocery retailer Wm Morrison Supermarkets has announced that it has agreed to sell nine Safeway stores to rival Sainsbury's....
UK supermarket chain Sainsbury's has announced that Roger Burnley will join Sainsbury's operating board as supply chain director, to replace Lawrence Christensen....
Supermarket chain Sainsbury has promised to spend more in Northern Ireland, according to the Belfast Telegraph newspaper....
Supermarket Sainsbury has reported a rise in total sales of 5.7% (5.3% excluding petrol) for the 12 weeks to 18 June 2005....
UK supermarket J Sainsbury plc today (Thursday) announced that Gwyn Burr has been appointed customer director on the company's operating board....
UK supermarket J Sainsbury plc has announced a sharp fall in profit for the year ended 26 March 2005, but said its recovery plan was on track....
- It won't just be Unilever to push for Brexit hikes
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on Brexit's policy impact
- Interview: UK trade body on the impact of Brexit
- Future trends in natural food to go mainstream
- PepsiCo sets 2025 nutrition, sustainability goals
- China "transition" drags on Danone Q3
- Nestle lowers outlook on "softer environment"
- UK announces "action plan" to drive food exports
- France eyes leading role in proteins
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Bakery (UK) - Industry Report
- Redefining Snacks: From Conventional Snacks to Snack Replacements