UK: Sainsbury's statement gives positive outlook on trading performance
The second largest supermarket group in the UK, Sainsbury today (18 October) released a statement ahead of an analysts' meeting, which revealed that current sales and profits are in line with expectations. The announcement boosted the chain's share value by 5%, from a figure which had been under-performing sector rivals by around a fifth this year.In a meeting later today, the executive board of the company is expected to provide a progress report to investment analysts on the measures implemented to improve trading performance outlined at the end of May this year and how the business will be reinvigorated.Roger Matthews, finance director, revealed that the simultaneous strategic review of the Homebase DIY chain, which was effectively put up for sale at £1bn during August, was progressing but "likely to take a few more weeks to complete."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Have food promotions reached tipping point?
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund