Sainsbury's has agreed to sell its Argos retail chain to Swift Partners for £120m, aiming to focus on its core food business. The deal, expected by February next year, ensures Argos's operations, staff, and Nectar points remain unchanged, with potential for new stores and a print catalogue return.
Sainsbury's CEO Simon Roberts stated that UK grocery inflation has been lower than initially feared, despite ongoing "pressure in the system" and concerns over the Middle East conflict. The supermarket chain saw sales rise 2.7% to £9.1bn, gaining market share as shoppers sought value, though non-food sales were subdued.
Sainsbury's elimina uova marroni per vendere solo uova bianche a marchio proprio, riducendo l'impronta di carbonio del 12,7% e migliorando il benessere animale.
Sainsbury's CEO Simon Roberts has called on the UK government to help ease rising energy costs for farmers, food producers and retailers caused by the Middle East conflict, warning this is the single biggest factor that could keep food prices from rising further. The supermarket group reported a 1.1% increase in annual underlying profits to £1.03bn but warned that profits could fall this year due to the conflict's impact on customer budgets and business costs. Shares slid almost 5% on Thursday, with the company predicting underlying profit of £975m to £1.08bn for the current year.
Sainsbury's has warned that profits could fall this year as the Middle East conflict squeezes customer budgets and pushes up business costs. The supermarket group reported a 1.1% increase in annual profits to £1.03bn for the year to 28 February, but uncertainty over the war means profits could be marginally higher or lower than last year. The company predicted underlying profit of £975m to £1.03bn and gained its highest market share in a decade.
