Sainsbury’s has reported a 9% fall in half-year profits, but sales rose.
The UK’s second largest supermarket chain said profits were £251m in the 28 weeks to the 23 September, while like-for- like sales excluding fuel went up by 1.6%.
It said the fall in profits was due to price cutting, wage cost inflation and the consolidation of Argos.
Sainsbury’s took over catalogue retailer Argos and Habitat in 2016 in a £1.4bn deal.
Sainsbury’s share price fell more than 3% following the release of the results.
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John Porter
John has been with Wrigley Claydon for over 20 years, becoming a partner in 1995. Specialising in Employment Law, John helps clients with matters including the preparation of recruitment policies and employment contracts as well as advocating in employment tribunals in cases of unfair dismissal or discrimination.
He also has considerable experience of dealing with landlord and tenant disputes and matters relating to business and company sales, commercial investment property transactions and lettings as well as residential estate and offshore property developments.
“I know I’ve done a good job when the business doesn’t need me!”
John is never happier than when spending time with his wife and 2 children, Lucy and Alex. John is Chair of Respect Our Community Awards (ROCA) and a board member of First Choice Homes Oldham. In his spare time, John is likely to be found either reading, cooking or walking Donnie the Golden Retriever.
Latest posts by John Porter (see all)
- 5 Steps to consider before buying or leasing commercial property - 13th September 2023
- Changes to Employment Law April 2020 - 5th April 2020
- Toys R Us on brink of administration - 8th January 2018
- Talk over sale of Newcastle Utd as owner Ashley meets investment firm - 22nd December 2017
- GVC gambles on Ladbrokes Coral takeover - 15th December 2017
