Sainsbury's is the next supermarket takeover target
3 years, 6 months ago

Sainsbury's is the next supermarket takeover target

The Telegraph  

‘I think we’ve learnt a huge amount through the pandemic about the power of being agile,” Simon Roberts, the boss of Sainsbury’s, told investors at a meeting this month. Some of those lessons have pushed Roberts to make bold decisions at the UK’s second largest supermarket chain only six months into his new role. In November, the grocer’s former retail and operations director revealed Sainsbury’s would axe 3,500 jobs with the closure of 420 Argos outlets, and all its meat, fish and deli counters. The shock £5.5bn private equity bid for smaller rival Morrisons is also likely to weigh on Roberts’ mind as he prepares for the annual meeting with shareholders next month.

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History of this topic

Sainsbury’s boss: Budget costs for businesses will lead to higher inflation
2 months ago

Sainsbury’s boss: Budget costs for businesses will lead to higher inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The supermarket giant’s boss Simon Roberts said there is …

Sainsbury's boss warns barrage of Budget costs will lead to higher prices
2 months ago

Sainsbury's boss warns barrage of Budget costs will lead to higher prices

Daily Mail  

Warning: Simon Roberts, the boss of Sainsbury's, warned that changes to national insurance made by the Government will add £140m to its tax bill The boss of Sainsbury's has warned that changes to national insurance made by the Government in the Autumn Budget will force prices to rise. Simon Roberts said Rachel Reeves decision to hike NI by 1.2 percentage …

Sainsbury’s warns of price rises after £140m ‘barrage’ of Budget costs
Trending News
2 months ago

Sainsbury’s warns of price rises after £140m ‘barrage’ of Budget costs

The Telegraph  

Sainsbury’s is facing a “barrage of costs” that will force it to raise prices, its chief executive has warned, as the retailer revealed a £140m hit from Rachel Reeves’s National Insurance tax raid. Simon Roberts said “difficult decisions” would have to be made after the Chancellor’s Budget triggered a steep rise in costs. “I would urge the Government to work …

Sainsbury’s set for sales increase after price investment
2 months, 1 week ago

Sainsbury’s set for sales increase after price investment

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sainsbury’s is set to reveal …

Sainsbury’s posts strong grocery sales but sees weather hit to non-food ranges
6 months, 1 week ago

Sainsbury’s posts strong grocery sales but sees weather hit to non-food ranges

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Supermarket Sainsbury’s has notched up …

Sainsbury’s offloads most of its banking arm to NatWest
6 months, 2 weeks ago

Sainsbury’s offloads most of its banking arm to NatWest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Supermarket Sainsbury’s has struck a …

Sainsbury’s set for ‘strong’ profit growth despite latest deliveries glitch
8 months, 2 weeks ago

Sainsbury’s set for ‘strong’ profit growth despite latest deliveries glitch

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sainsbury’s has said it expects …

Co-op Bank snaps up Sainsbury’s £480m mortgage arm
1 year, 4 months ago

Co-op Bank snaps up Sainsbury’s £480m mortgage arm

The Telegraph  

The Co-operative Bank has struck a deal to buy Sainsbury’s £480m mortgage business. Sainsbury’s Bank will offload 3,500 customers to its rival, as it formally exits the UK mortgage market after years of trying. It is not the first major supermarket to scrap its lending business, as Tesco previously sold off its mortgage book to Lloyds Banking Group in 2019, …

Sainsbury’s to reveal how profits have been hit by supply chain and inflation
3 years, 2 months ago

Sainsbury’s to reveal how profits have been hit by supply chain and inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sainsbury’s is set to reveal …

Sainsbury's prepares to repel private equity raiders as profits soar
3 years, 6 months ago

Sainsbury's prepares to repel private equity raiders as profits soar

Daily Mail  

Sainsbury's bolstered its defences against potential takeover bids as the supermarket giant predicted bumper annual profits of £660million. Boss Simon Roberts played down fears that Sainsbury’s could be targeted by private equity buyers, as Morrisons became the subject of a bidding war. And speculation has been fuelled by billionaire Daniel Kretinsky’s stake-building, with the tycoon known as the ‘Czech Sphinx’ …

Morrisons takeover: Who wants to buy the supermarket and why?
3 years, 6 months ago

Morrisons takeover: Who wants to buy the supermarket and why?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Morrisons agreed a £6.3 billion …

American investors are trying to buy a UK supermarket. Here’s why
3 years, 6 months ago

American investors are trying to buy a UK supermarket. Here’s why

CNN  

London CNN Business — Britain’s fourth biggest supermarket chain Morrisons has become the takeover target of an American private equity firm in the latest sign of a strong appetite among investors for UK assets. “The volume of liquidity, reflecting monetary policy, and the uptake of capital by family offices, high net worth investors and private equity, means that even Tesco, …

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