Sainsbury’s: FTSE 100 retailer warns Reeves’ budget may push up food prices Retail Chief executive of Sainsbury’s Simon Roberts has warned that Reeves’ decision to increase employer’s national insurance contributions (NICs) by 1.2 per cent to 15 per cent next April could lead to price inflation. Sainsbury’s has estimated the cost of the change at £140m, according to the Guardian. “This industry operates on very low margins, and there just [...]
Sainsbury’s sells Argos credit cards for £720m in financial services retreat Banking Sainsbury’s has struck a deal to sell its Argos credit card portfolio for roughly £720m as the supermarket withdraws further from financial services to focus on retail.
Argos: ‘Tough trading conditions’ fail to stop sales and profit rise Retail “Tough trading conditions” failed to stop Argos increasing its sales and profit during its latest financial year, it has been revealed. The retailer, which is owned by supermarket giant Sainsbury’s, has reported a revenue of £4.22bn for the 12 months to 2 March, 2024, up from the £4.15bn it posted for the prior year. Newly-filed [...]