FTSE 100 close: JD Sports springs London flagship index to 2018 high January 11, 2023 London’s FTSE 100 index leapt to its highest level since 2018 in afternoon exchanges in the City today after a series of strong retailer earnings signalled the UK consumer is holding up well amid the cost of living crunch. The FTSE 100 index climbed 0.99 per cent to 7,770 points, while the domestically-focused mid-cap FTSE [...]
Sainsbury’s: Expected profits up as food shoppers splash Christmas cash but Argos bears brunt of cost of living crisis January 11, 2023 Sainsbury’s cashed in on Christmas shopping with retail sales up more than five per cent, as the supermarket giant expects its profit to be at the “upper end” of guidance. The major retailer now expects to be making close to £700m in pre-tax profit this March, despite the cost of living crisis weighing down consumer [...]
Sainsbury’s boosts pay as part of £205m inflation package January 4, 2023 Sainsbury’s is investing £185m in pay bumps for staff as the supermarket looks to retain staff during a period of high inflation and rising cost of living. Pay will increase to £11 per hour for retail staff, with London workers paid £11.95. It represents a 10 per cent pay hike over the past year when [...]
Cost of living fears don’t stop Brits spending record £12bn in supermarkets in run-up to Christmas January 4, 2023 BRITS brushed off cost of living and recession fears to spend a record £12bn in UK supermarkets in the run-up to Christmas.
Currys, Asos and Sainsbury’s top retail stocks this Christmas December 23, 2022 For investors looking to give their portfolios a seasonal shake-up, CityA.M. takes a look at analysts’ selections of the retail stocks to keep a close eye on in the coming weeks. Analysts at Hargreaves Lansdown chose Currys, Asos and Sainsbury’s as the three retail stocks to watch this Christmas. It comes as retailers have been [...]
Christmas shopping: Sainsbury’s invests extra £50m into battling price inflation December 5, 2022 Sainsbury’s has announced it will pump an additional £50m into its cost of living value plan by March 2023. The supermarket said it has invested in a Christmas roast dinner at less than £4 a head, as part of a £15m investment plan to keep prices affordable on festive staples. Low prices and new special [...]
Supermarkets ‘implored’ to lower forecourt fuel prices after steady wholesale drop November 28, 2022 Motoring group the RAC has urged supermarkets for not lowering prices in forecourts despite wholesale fuel going down in price. The car-owners’ organisation appealed to the big four – Tesco, Sainsbury’s, Morrisons and Asda to make consumers’ lives easier amid the cost of living crisis. In new figures released, the RAC showed wholesale fuel prices [...]
Sainsbury’s now using imported Italian eggs amid ‘supply challenges’ November 14, 2022 Sainsbury’s is now importing its eggs from Italy due to a supply crisis sparked by the avian flu outbreak. The supermarket giant admitted it and other rivals are “experiencing some supply challenges with eggs”, after a report on Friday outlined the staple food had soared in price. One Twitter user shared an image of eggs [...]
Egg-istential crisis: Shops ration staple as inflation, supply woes drive up price November 11, 2022 Supermarkets are rationing sales of eggs as problems with supply chains are leaving soaring prices and empty shelves. The staple food is experiencing a rise in price due to inflation and a shortage, owing in part to recent orders to house all poultry in doors due to a huge surge in avian flue. Steven Dresser, [...]
Sainsbury’s profits dip as supermarket giant battles to keep prices low November 3, 2022 Sainsbury’s has posted subdued half-year profits, after taking a hit to keep prices competitive for customers and boost pay for staff. The supermarket giant, which also owns Argos, said underlying pre-tax profit dipped eight per cent to £340m over the half-year to 17 September , compared with the same period last year. It had previously [...]