Family Fortunes
Article Abstract:
Sainsbury's has been one of the top food retailers in the UK for many generations, having gained a strong reputation for high quality goods. However, it has recently reported its first fall in profits since becoming a public company in 1973. The Sainsbury family's 40% holding has lost 1.2 billion pounds sterling in value since 1992, and the company's shares have been underperforming the supermarket sector by 28%. It has been facing very strong competition, and will have to take a much more aggressive approach if it is to regain market share.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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Sainsbury shares slide 13% on profits warning
Article Abstract:
UK supermarket chain Sainsbury has seen a 13% decline in its share price following the publication of a warning that its profits for 1997 will be considerably lower than City analysts had originally predicted. The concern is set to see a fall in profit for the second consecutive year, having been particularly negatively affected by the high costs associated with introducing its loyalty card. It will also face a 50 million pounds sterling charge as it speeds up the conversion of the Texas format to Sainsbury's Homebase.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Sainsbury's profits slump sparks plan for 'aggression.'
Article Abstract:
Supermarket chain Sainsbury's has been seeing growing competition from Asda and Tesco, and this is the main reason behind its recent fall in profits, the first for 22 years. The company denies that it had become complacent, but is now looking at ways of reviving its fortunes. These will include the launch of a loyalty card very shortly. It is also planning to offer a credit card, thus taking it into a range of financial services.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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