Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]
Explainer: Why e-scooters are London’s biggest fire threat March 30, 2023 What’s the biggest fire threat in London? You would think it’s kitchen electricals, cigarette butts still burning, or millennials leaving scented candles on. But you’d be wrong: it’s actually e-scooters and e-bikes’ batteries. The London Fire Brigade has warned the risk of these batteries exploding is the most pressing issue they’re facing in the capital. [...]
Sainsbury’s: Up to 1,400 jobs could go as overhaul leads to the closure of two depots in Manchester and Essex February 28, 2023 Sainsbury’s has revealed plans to close two Argos depots over the next three years as part an overhaul that expected to impact more than 1,400 jobs. The supermarket giant has confirmed it is aiming to shut its Argos warehouse in Basildon, Essex, and a depot in Heywood, Greater Manchester, by 2026. It said 1,400 jobs [...]
Nectar users in with a chance to win a year’s worth of shopping in 50 million points payday giveaway January 27, 2023 Nectar, the loyalty card scheme owned by Sainsbury’s, is giving away 50 million points to customers as part of a promotion launching this payday weekend. ‘The Big Points Bonanza’ is taking place every day from 27 January to 4 February and gives shoppers the chance to cash in on some bonus Nectar points, which can [...]
FTX recovers $5 billion of liquid assets, SEC charges Gemini and Genesis, and the crypto market bounces back January 16, 2023 CryptoCompare data shows the price of Bitcoin moved up significantly over the past week, starting at around $17,000 and rising towards $21,000.
Sainsbury’s: Expected profits up as food shoppers splash Christmas cash but Argos bears brunt of cost of living crisis January 11, 2023 Sainsbury’s cashed in on Christmas shopping with retail sales up more than five per cent, as the supermarket giant expects its profit to be at the “upper end” of guidance. The major retailer now expects to be making close to £700m in pre-tax profit this March, despite the cost of living crisis weighing down consumer [...]
Bitcoin’s hashrate recovers from 40% plunge as crypto industry consolidates January 2, 2023 Data from CryptoCompare shows the price of Bitcoin started the final week of 2022 trading close to $17,000 mark, but plunged to $16,400.
Govt accused of ‘rank double standards’ as civil servants paid £30m in vouchers December 29, 2022 The Government has been accused of “rank double standards” after giving almost £30 million in high-street vouchers to civil servants amid a pay freeze prompted by the cost-of-living crisis. Sixteen Whitehall departments in 2021-22 paid out a combined total of £29.57 million to staff in the form of ‘reward and recognition’ vouchers, a third more [...]
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]