Banking

J Sainsbury announces Sainsburys Bank Chairman to step down

FTSE News FTSE 100

Roger Davis, Chair of the Sainsbury’s Bank Board, has notified J Sainsbury plc (LON:SBRY) that he intends to step down. A search to find his replacement will begin and a further announcement regarding timings of his retirement and news of his successor will be made in due course. Roger Davis has been Chair of the Sainsbury’s Bank Board for nearly …

global warming

J Sainsbury commits to hitting net zero by 2040

FTSE News FTSE 100

J Sainsbury (LON:SBRY) today committed to investing £1 billion over twenty years towards becoming a Net Zero business across its own operations by 2040, aligned to the highest ambitions of the Paris Climate Change Agreement and a decade ahead of the UK Government’s own target. The retailer’s current carbon footprint is one million tonnes, which is a 35% absolute reduction …

J Sainsbury CEO Mike Coupe to retire; Simon Roberts appointed

FTSE News FTSE 100

After almost six years as Chief Executive Officer (CEO) and fifteen years working for J Sainsbury (LON:SBRY), Mike Coupe has confirmed his intention to retire later this year. Mike will continue in his role as Chief Executive Officer until the end of May 2020. Chairman Martin Scicluna and the Nomination Committee led a thorough search process, assisted by external headhunters, …

J Sainsburys Plc

J Sainsbury Strong grocery performance and online growth

FTSE News FTSE 100

J Sainsbury (LON:SBRY) has today announced its third quarter Trading Statement for the 15 weeks to 4 January 2020. ·     Grocery sales grew 0.4 per cent, with Groceries Online up 7.3 per cent ·     Clothing sales grew by 4.4 per cent ·     General Merchandise sales declined by 3.9 per cent ·     Total online sales grew by 5 per cent ·     Total retail sales declined by 0.7 …

J Sainsburys Plc

J Sainsbury Positive momentum across the business

FTSE News FTSE 100

J Sainsbury (LON:SBRY) has announced its interim Results for the 28 weeks to 21 September 2019 Operational Highlights ·    Positive momentum in Grocery market share1 and sales performance, driven by a strong customer response to lower prices and our new value brands. We launched 123 new value brand products, with 200 due by the end of the financial year ·    We continue to improve …

J Sainsbury changes positions on the PLC and Operating Board

FTSE News FTSE 100

J Sainsbury (LON:SBRY) has today announced changes to positions on the plc Board and Operating Board.  John Rogers, CEO of Sainsbury’s Argos, is leaving the business to become Chief Financial Officer of WPP PLC. John will leave the business on 31st October 2019.  Argos’s retail and logistics teams will report into Simon Roberts, Retail and Operations Director and Argos’s commercial team will report …

J Sainsbury on track to deliver FY19/20 underlying PBT in line with expectations

FTSE News FTSE 100

J Sainsbury (LON:SBRY) has today announced its Q2 Trading Statement for the 12 weeks to 21 September 2019 and its Capital Markets Day. Second Quarter Trading Statement ·     Stronger trading across Grocery, General Merchandise and Clothing o  Further improvement in our performance relative to the market, particularly Grocery1 ·     Second quarter total retail sales up 0.1 per cent (excl. fuel), with like-for-like sales …

J Sainsbury plc Improving market share performance in a tough market

FTSE News FTSE 100

J Sainsbury plc (LON: SBRY) has today provided a first quarter trading statement for the 16 weeks to 29 June 2019. · Total retail sales down (1.2) per cent (excl. fuel) with like-for-like sales down (1.6) per cent (excl. fuel) · Grocery sales declined (0.5) per cent · General Merchandise sales declined by (3.1) per cent and Clothing sales declined …

J Sainsburys Plc

J Sainsbury plc Appoints Jim Brown as Chief Executive Officer

FTSE News FTSE 100

J Sainsbury plc (LON: SBRY) announced today that it has appointed Jim Brown as Chief Executive Officer of Sainsbury’s Bank, subject to regulatory approval. Jim will join as CEO Designate on 19th June and will work with Peter Griffiths for a short period of handover. Jim worked for Royal Bank of Scotland PLC (LON: RBS) from 2015-2017 as Chief Executive …

J Sainsbury plc Full year profit ahead of consensus; accelerating investment in stores and digital

FTSE News FTSE 100, News

J Sainsbury plc (LON:SBRY) today announced Preliminary Results for the 52 weeks to 9 March 2019

· Underlying profits up 7.8 per cent; net debt £222 million lower, ahead of target; dividend up 7.8 per cent

· Accelerating investment in store estate and technology while reducing net debt and maintaining our dividend policy

· Investing to improve more than 400 supermarkets this year

· New target to reduce net debt by at least £600 million over the next three years

Strategic highlights

· Customers continue to rate Sainsbury’s first for food quality and we outperformed the market in premium categories1

· Growth across all Sainsbury’s channels. Convenience and Groceries Online sales grew 3.7 per cent and 6.9 per cent respectively, with Convenience outperforming the market2. Supermarket sales grew one per cent, benefiting from the addition of Argos stores inside supermarkets

· Completed a major reorganisation of Sainsbury’s sto