Asda and J Sainsbury to battle it out in crunch time for grocers
J Sainsbury and Asda will go head -to-head this week to show the City how they have been faring in the consumer downturn.
Sainsbury’s, Britain’s third-biggest grocer, is expected to post a 16 per cent rise in first-half profits on Wednesday and warn of a tougher second half amid stiff competition.
And Asda, owned by US giant Wal-Mart, is expected to say that profit growth has been stalled by a drop in food price inflation at its third quarter results.
Sainsbury’s, which runs over 500 supermarkets and around 300 convenience stores, is expected to report pre-tax profits of £301m for the 28 weeks to 3 October.
Data from TNS market researchers is tomorrow expected to show Tesco is starting to regain market share.