Sainsbury's has warned that its profits this year will be hit by soaring inflation and a fall in customers' disposable incomes.
Britain's second-largest grocer behind Tesco said that its underlying profit before tax in 2022-23 was expected to be between £630m and £690m, compared to the £730m underlying profit it has reported for the year to 5 March 2022.
In its financial results, the supermarket said:"The year ahead will be impacted by significant external pressures and uncertainties, including higher operating cost inflation and cost of living pressures impacting customers' disposable incomes. "In that context we are determined to continue our consistent improvement in grocery value, innovation and customer service, funded by our comprehensive cost savings programme and we expect to continue our strong grocery volume market share performance."
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Lloyds warns of higher loan defaults amid cost of living crisisOutlook for UK economy ‘uncertain’, says banking group as it reports 14% fall in first quarter pre-tax profit
Weiterlesen »
Slashing food tariffs will not fix UK’s cost of living crisis, warns farmers’ unionNFU president responds to reports ministers are considering lowering import taxes to stem inflation
Weiterlesen »
Slashing food tariffs will not fix UK’s cost of living crisis, warns farmers’ unionNFU president responds to reports ministers are considering lowering import taxes to stem inflation
Weiterlesen »
PMQS: Boris Johnson faces questions over cost of living, tax rises and claims of misogyny in Tory party – liveLatest updates: prime minister accused of ‘burying his head in the sand’ by Labour leader as cost of living crisis hits country
Weiterlesen »
Boris hints parents could receive childcare support amid cost of living crisisBoris Johnson has hinted parents could receive further childcare support as he seeks cost-free measures to alleviate the cost of living crisis.
Weiterlesen »