What the other papers say this morning October 20, 2016 Here are today's top stories from across the papers: Financial Times Wells Fargo boss apologises for scandal Wells Fargo’s new chief executive apologised yesterday to the bank’s 278,000 workers for the sales-fraud scandal that has engulfed the US bank. In his first big address to staff, Tim Sloan told an audience of 1,200 workers that [...]
Sainsbury’s and Glencore give FTSE 100 a three-digit lift – London Report October 1, 2015 The FTSE 100 enjoyed strong gains yesterday, helped by Sainsbury’s after the supermarket group lifted its full-year profit outlook. The blue-chip index climbed 152.37 points, or 2.6 per cent, to close at 6,061.61. Despite reporting a seventh straight quarter of falling sales, Sainsbury’s shares soared 13.8 per cent. Other supermarkets were also lifted, with Morrisons [...]
Mog the Cat vs Man on the Moon: Sainsbury’s trumps John Lewis for Christmas advert of the year – but there’s a third surprise most shared ad of 2015 not far behind November 22, 2015 The Christmas bonanza has once again pitted John Lewis and Sainsbury’s against each other to create the year’s most heartwarming advert, and the supermarket appears to have trumped the reigning champion once again. John Lewis has topped the video charts with Man on the Moon for the most shared festive ad of the year in 2015, however, considering it’s [...]
Sainsbury’s gets blessing from competition watchdog for Argos takeover July 22, 2016 Sainsbury’s proposed acquisition of Home Retail Group has been given clearance by the Competition and Markets Authority (CMA). The body said this morning that it would not be referring the deal for further investigation. J Sainsbury agreed a cash and shares deal, then worth £1.4bn, for the Argos owner in April. Read more: Sainsbury's remains committed [...]
As Sainsbury’s makes a surprise upgrade to its profit forecast, could this be comeback season for supermarkets? September 30, 2015 Clive Black, director and head of research at Shore Capital, says Yes To say that the British supermarket scene has been through the “perfect storm” is to understate the size of the waves. Sales fell, margins collapsed, earnings imploded and dividends were cut. The surprise Sainsbury’s upgrade in market expectations is a welcome boost to [...]
National living wage to hit convenience stores including Tesco, Morrisons and Sainsbury’s September 24, 2015 Convenience retailers warned today that they may have to reduce staff hours or cut jobs entirely to fund George Osborne’s national living wage of £9 for over-25s by 2020. Britain’s convenience sector employs around 407,000 staff and consists of around 50,000 stores – of which fewer than 2,500 are run by Tesco, Morrisons and [...]
Sainsbury’s creates 900 new jobs at fulfilment centre in London July 21, 2016 Sainsbury’s announced this morning that it is creating 900 jobs at its new online fulfilment centre in Bromley-by- Bow in east London. The 185,000 sq ft centre, due to open this autumn, was built as part of the retailer’s strategy to cater for growing demand in the capital for its online groceries service. At the moment, online orders are picked [...]
Sainsbury’s to pay staff above minimum wage August 26, 2015 SAINSBURY’S has become the latest retailer in the UK to pay its shop staff above the government’s new national living wage from next month. Britain’s second biggest retailer announced today it will pay all its 137,000 non-management store colleagues at least £7.36 from 30 August, up from £7.08 previously. Ikea also revealed a pay hike [...]
Sainsbury’s remains committed to Home Retail purchase despite Brexit vote July 5, 2016 Sainsbury’s reaffirmed today its desire to purchase Home Retail group despite the increased economic uncertainty after the UK voted to leave the EU. "We remain absolutely convinced by the strategic rationale of the deal and we think it will strengthen our business. We remain committed to making the deal happen," said CEO Mike Coupe. The [...]
Sainsbury’s: We’re the biggest vinyl record seller. HMV: Er, no you’re not June 11, 2016 Woof. HMV has barked back at Sainsbury’s over the supermarket's claim to be the UK’s biggest high street retailer for vinyl records. The music shop has claimed it has more than four times the market share of Sainsbury’s. It did concede, though, that “we don’t sell nearly as many teabags as Sainsbury’s”. Sainsbury’s responded by conceding that [...]