Author Topic: Sainsbury's first-half profits fall  (Read 192 times)

Description: The firm said that retail sales, excluding fuel, were down 0.1%. Like-for-like sales fell 1.6%.</p><p>At the end of September the company reported its seventh consecutive quarter of falling underlying

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Sainsbury's first-half profits fall
« on: November 11, 2015, 07:00:58 PM »

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Sainsbury's first-half profits fall

Sainsbury&#039;s half-year profits fall by 18%



   
   

       
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    11 November 2015


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  • From the section Business



   

                                                                                                   

               
                Sainsbury&#039;s store in East London

           
       

Supermarket group Sainsbury&#039;s has reported a fall in half-year profits, citing a "particularly challenging" market.

Underlying pre-tax profits for the 28 weeks to 26 September fell 17.9% to £308m. 

The UK&#039;s third-biggest grocer is in a continued pricing war, and facing challenges from discount chains.

The firm said that retail sales, excluding fuel, were down 0.1%. Like-for-like sales fell 1.6%.

At the end of September the company reported its seventh consecutive quarter of falling underlying sales.

The company&#039;s chief executive, Mike Coupe, admitted that "the grocery retail marketplace remains challenging" but said he was "confident we are making progress".

Online boost

The £308m profits figure was its lowest first-half profit since 2010, and down from £375m last year. However, the figure was still ahead of analysts&#039; expectations of about £293m.

Sainsbury&#039;s said food sales had declined by nearly 1%, but clothing performed strongly, with sales up by close to 10%.

                                                                                                   

Sales at supermarkets fell by just over 2%, driven by food deflation, lower like-for-like volumes, and "customers shopping across multiple channels".

However, convenience stores delivered sales growth of nearly 11%, while online grocery orders delivered sales growth of 7%.

The latest research from Kantar Worldpanel found that the firm was the only major chain to see sales rise in the 12 weeks to 11 October, lifting its market share to 16.1%.

Sugar issues

Speaking to BBC Radio 4&#039;s Today programme Mr Coupe said the company was taking action to cut down on sugar in its products and to cut waste.

The firm said it had removed close to 35 tonnes of sugar from its own-brand juices and juice drinks, and continued "to reformulate our products to improve quality and taste and to reduce sugar".

He said there had to be a "holistic approach" from society to cutting childhood obesity, including more information about calories generally, and looking at ways to burn off calories.

On waste, he said the firm was looking to provide the quality in products - such as fruit and vegetables - that customers demanded, including with regards to shape, texture, and "visual cues".

The firm, he said, donated unsold food to charities, or sent it for conversion into animal feed.


                                                                                               

Source: Sainsbury's first-half profits fall






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Offline Carpenters Son.

Re: Sainsbury's first-half profits fall
« Reply #1 on: November 12, 2015, 01:23:20 AM »
I remember a certain retail chain store had a "Bag for life". The idea is you take your worn out bag into the store for recycling and get a free new bag. While it was nice to get replacement bags, I was disturbed to find staff would put old bags in the bin and they were never recycled as the store did not make provision for such in their area.

TJ

  • Guest
Re: Sainsbury's first-half profits fall
« Reply #2 on: November 12, 2015, 01:38:38 AM »
They cannot supply  biodegradable bags  ?

Look how give and take applies between stores - less than a certain member of staff and the rule does not apply !

Often its more to do with promoting a "green image" which is more about promoting the store .

Take a look @ this link

http://www.bitterwallet.com/are-sainsburys-not-giving-as-much-to-charity-through-plastic-bag-tax/88252
http://www.bitterwallet.com/are-sainsburys-not-giving-as-much-to-charity-through-plastic-bag-tax/88252

TJ

  • Guest
Re: Sainsbury's first-half profits fall
« Reply #3 on: November 12, 2015, 01:42:19 AM »
Lets save the planet while we shop at the expense of third world countries to   make us feel good about ourselves

And give to charity at the same time

But also promote a product

Offline Carpenters Son.

Re: Sainsbury's first-half profits fall
« Reply #4 on: November 12, 2015, 01:46:04 AM »
We have had the tax for a few years here. Shops themselves chose the charity. so could be anything.

Serenity

  • Guest
Re: Sainsbury's first-half profits fall
« Reply #5 on: November 12, 2015, 01:49:09 AM »
Does my head in the lot of it, the entire world has just gone crazy on consumerism, debt, war mongering, mass killing, fear mongering, innocents lost, running for cover from all this madness!  there is only so long this planet is going to last with the way its going. 

Every leader with their fingers poised over the red button, all playing war games 'practicing' wasting time basically, nuclear threats, when and how is it all going to end? because it just aint gonna last at the speed of progression, its been crazy in the last 40 yrs how the entire world has changed. 

Soldiers died for the freedom of this country, defeated Germany and Hitler for what? 50 years down the line, to be taken into the EU without the people's vote of the country that the soldiers died for, to be under control by oh look, Germany got a big voice in the EU.  Its a complete insult, massive dishonour, and then THEN the leaders have the audacity to lay wreaths, splattering their public worth of how GOOD they are?! 

Too right we need to return to what these soldiers fought for and died for, independence from the control.  Instead of selling it up the swanny, privatising, giving contracts abroad and do what the British do well, and sustain itself.  Its not like don't have the capability.  For goodness sake I do hope we leave the EU for this countries sake, in more ways than one.

Tell ya don't get me started obviously lol

TJ

  • Guest
Re: Sainsbury's first-half profits fall
« Reply #6 on: November 12, 2015, 01:59:24 AM »
Does my head in the lot of it, the entire world has just gone crazy on consumerism, debt, war mongering, mass killing, fear mongering, innocents lost, running for cover from all this madness!  there is only so long this planet is going to last with the way its going. 

Every leader with their fingers poised over the red button, all playing war games 'practicing' wasting time basically, nuclear threats, when and how is it all going to end? because it just aint gonna last at the speed of progression, its been crazy in the last 40 yrs how the entire world has changed. 

Soldiers died for the freedom of this country, defeated Germany and Hitler for what? 50 years to be taken into the EU without the people's vote of the country that the soldiers died for, to be under control by oh look, Germany got a big voice.  Its a complete insult, massive dishonour, and then THEN the leaders have the audacity to lay wreaths, splattering their public worth of how GOOD they are?!

Tell ya don't get me started obviously lol

That is the problem ?"who do you believe ?" and "who do you trust?"

Serenity

  • Guest
Re: Sainsbury's first-half profits fall
« Reply #7 on: November 12, 2015, 02:01:37 AM »
I trust those whom God tells me to trust via Luke 24:32, that is so an important signpost for me, because there is only God who has the key to that place.  The world has always been the enemy to hide from. This is home.  This is the only safe place.

And how I got from Sainsbury's first half profits fall to here I don't know, so sorry lol

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