Abstracts » Retail industry

UK: SAINSBURY PROFIT PROJECTION CUT

Article Abstract:

UK-based supermarket chain, J Sainsbury, saw its pre-tax profit projections for 2000 downgraded by analysts on the back of the announcement that it could be three years at least before profits enjoy a total resurgence. Profit projections were cut by 10% to GB[pound] 540mn by the bank, Schroder Salomon Smith Barney, while a CCF Charterhouse analyst cut his forecast by GB[pound] 45mn to GB[pound] 550mn. Sainsbury posted a 23% fall in annual profits to GB[pound] 580mn and its shares fell to their lowest point since March 2000 on 1 June 2000.

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UK: J SAINSBURY TO MOVE INTO NEW HQ

Article Abstract:

J Sainsbury is to move into a new head office in 2001. It is to move into the redeveloped former head office of the Mirror Group at Holborn Circus, London. The new premises will include a 3,500 sq ft Sainsbury's Local store at ground floor level. The shake-up will mean Sainsbury selling two other main office buildings and releasing up to GB[pound] 100mn of capital.

Plant shutdown, Buildings and facilities, Location

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Farmers savage Tesco over 'obscene' 1 billion pounds sterling profits

Article Abstract:

Farming groups have criticized the 1 billion pounds sterling profit reported by Tesco. The supermarket chain has defended itself by stating that its improved financial performance is attributable to higher sales and efficiencies.

Crop Production, Grocery Stores, Public affairs, Supermarket Chains, Farms, Tesco Stores Ltd.

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