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    Sainsbury's slumps to loss.

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    papa_umau
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    Sainsbury's slumps to loss.

    Post by papa_umau on Wed 12 Nov 2014, 11:19 am

    Sainsbury's slumps to loss and warns supermarket sales will be falling for years

    Britain's third largest supermarket retailer said that food shopping is undergoing a "structural change" and has written off value of stores.

    Sainsbury's slumped into the red for the 28 weeks to September 27 after booking a one-off impairment charge of 628m on the value of existing stores and the cost of mothballing 40 proposed developments.

    Shares in Sainsbury's fell by 5pc on the back of the half-year results.

    Britain's third largest supermarket retailer said that only 75pc of its supermarkets were in the "right locations and are of the right size for our food and non-food offer".

    Read the full story from The Telegraph HERE




    It looks to me as if they are willing to blame anything but their greed and the hammering they are getting from discounters like Aldi and Lidl for their failure.


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    zathrus
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    Re: Sainsbury's slumps to loss.

    Post by zathrus on Thu 13 Nov 2014, 12:26 pm

    That's interesting to read Paps.

    It is actually quite good to see that it is not only Morrisons that are suffering from the competition that they are getting from the likes of Aldi and Lidl .

    "More power to their elbow" I say.
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    Angie baby
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    Re: Sainsbury's slumps to loss.

    Post by Angie baby on Sat 15 Nov 2014, 11:52 am

    There is no doubt that the family-owned German discount supermarkets are doing the ordinary folk a service that none of the big supermarkets have ever even thought of doing.

    At one time the shopping snobs looked down their noses at these discount supermarkets, but now they too are starting to regularly lay their prejudices aside to shop with the discounters in order to cut down on their shopping expenses too.

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    Re: Sainsbury's slumps to loss.

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