ACR-News
11 November 2015

Sainsbury's sees first half profits fall

“The grocery retail marketplace remains challenging but Sainsbury’s is a great business, run by an experienced management team, supported by talented colleagues and strong values. I am confident we are making progress and we are looking forward to a successful Christmas, offering our customers fantastic products and great value.”

Sainsbury’s has reported a 17.9% drop in underlying pre-tax profits to £308m for the 28 weeks to 26 September this year.

Underlying Group sales were down 2.0 per cent to £13,641 million, while like-for-like sales declined by 1.6%.

However, the retailer says its strategy remains on track despite the competitive marketplace.

Chief executive Mike Coupe said: “We are making good progress against the strategy we outlined last November.”

“We continue to run the business efficiently and our cost savings programme is ahead of plan. We now expect savings of around £225 million by the end of this financial year and we are on track to deliver our target of £500 million cost savings over the next three years,” he continued.

“The grocery retail marketplace remains challenging but Sainsbury’s is a great business, run by an experienced management team, supported by talented colleagues and strong values. I am confident we are making progress and we are looking forward to a successful Christmas, offering our customers fantastic products and great value.”

 

Comments

Already Registered?
Sign In
Not Yet Registered?
Register

World Refrigeration Day

Industry has embraced the inaugural World Refrigeration Day (WRD) with events happening all over the world....

  25-Jun-2019

Get the best quality indoor air with Vaisala’s HVAC meters

Ventilation indoors must be carried out as energy efficiently as possible; too much of it will waste energy, and too little of it affects employees’ well-being....

  05-Aug-2019

New Zanotti GM Wall Mounted Monoblock

AFR Refrigeration Ltd introduces the new GM range of through wall mounted monoblocks with refreshed modern appearance and upgraded touch style control panel keypad.
  16-Aug-2019
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

25th IIR International Congress of Refrigeration
International Conference on Compressors and their Systems
TQ Environmental "Refrigerant & Gas Monitoring" Mark Scott
Hampshire Cool Talk Breakfast Briefing
Queen Mary University "Enhanced condensation heat transfer" Huasheng Wang