Sainsbury's will update shareholders on Thursday October 22 on its half-year performance and strategy, with questions expected on reports of earlier talks with Morrisons, which the Financial Times said have ended. The UK's second-largest grocer holds about 15.3% of the market, far behind Tesco's 27.9%, and has agreed to sell its Argos arm for at least £120 million. Barclays expects second-quarter sales growth to slow to 2.6% from 3.6%, with half-year earnings before interest and tax around £530 million, up 4%. Investors will also look for guidance on how a predicted rise in inflation and higher energy costs linked to the Middle East conflict could affect profit.
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Sainsbury's will update shareholders on trading on Thursday October 22, and analysts are expected to ask about reports it held merger talks with Morrisons earlier this year, though the FT says those talks have ended. The retailer holds about 15.3% of the UK grocery market, well behind Tesco's 27.9%, and in July agreed to sell Argos to Swift Partners for at least £120 million. Barclays expects second-quarter sales growth of 2.6%, down from 3.6% in the first quarter, and EBIT of around £530 million for the half year, up 4%. Investors will also watch the profit outlook as the Middle East conflict pushes energy costs and inflation higher.
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Grocery price inflation rose to 2.5%, its second consecutive monthly increase, adding pressure on weekly food bills as fuel and energy costs also climb. Sophie Graham, a personal finance expert at Sunny, offers tips for shopping at major retailers such as Tesco, Asda, Aldi, Lidl, Sainsbury's and Morrisons, including checking unit prices on shelf labels, buying only deals shoppers would have bought anyway, trying own-brand products, planning meals with a list, and using ingredients already at home. The article also suggests comparing loyalty card prices with standard prices elsewhere and setting a festive food budget now, with small weekly savings ahead of Christmas and higher energy bills expected in January.
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Grocery price inflation in the UK has risen for the second month in a row to 2.5%, as households also face high fuel prices and rising energy bills. Personal finance expert Sophie Graham of Sunny shares ways to cut weekly food costs at major supermarkets such as Tesco, Asda, Aldi, Lidl, Sainsbury's and Morrisons, including checking unit prices on shelf labels, buying only promotions shoppers would have bought anyway, trying own-brand alternatives, planning meals with a list, and using items already at home. She also cautions that a loyalty discount at one supermarket is not necessarily cheaper than standard prices elsewhere, so comparisons are worthwhile. With energy bills expected to rise again in the new year, she recommends setting a festive food budget now and saving a small amount each week to ease the January bills.
- Tesco , Asda , Aldi , Lidl , Sainsbury and Morrisons shoppers told check shelf detail before buying
Grocery price inflation at major supermarkets rose for a second month in a row to 2.5%, adding to pressure from high fuel and energy bills. Sophie Graham, a personal finance expert at Sunny, advises comparing unit prices on shelf labels, buying only promotions the shopper would have bought anyway, and trying own-brand alternatives for staples. Other suggestions include planning meals and shopping with a list, using items already in cupboards, and comparing prices between stores even with loyalty cards. The article also recommends setting a festive food budget now, since energy bills are expected to rise again in the new year.
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