Sainsbury’s boss: We are not profiting from high prices

May 26, 2023 · BBC News. Supermarkets have not been using high rates of inflation as a cover for making higher profits, the boss of Sainsbury's has told the BBC. When asked if the UK's …

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Sainsbury’s Boss: We Are Not Profiting From High Prices

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May 26, 2023 · Sainsbury’s made £690m in pre-tax profit in the year to March, a fall from £730m the previous year. There have been growing calls for more clarity over how food prices are set. …

northeastbusinessnews.org.uk

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Sainsbury’s Boss Warns Of Higher Prices After Budget - Financial …

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Nov 7, 2024 · The boss of J Sainsbury has warned customers will face higher grocery prices because of a £140mn hit to its tax bill from Labour’s Budget. Chief executive Simon Roberts …

ft.com

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Sainsbury’s Boss Offers Food Prices Hope As Profits Slide 5% To …

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Apr 27, 2023 · The boss of Sainsbury ’s held out hope for shoppers that fresh food prices rises may be past the worst but said it would be months before it was clear if grocery inflation as a …

standard.co.uk

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Life Tough For Millions Of Households, Says Sainsbury's Boss - BBC

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Nov 3, 2022 · The supermarket reports a fall in profits and says shoppers are "watching every penny". ... says Sainsbury's boss. ... "We will have invested more than £500m by March 2023 in keeping prices lower ...

bbc.com

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Sainsbury's Boss Warns 'barrage Of Costs' In Budget Means It Will …

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Nov 7, 2024 · It came as Sainsbury’s announced revenues increased by 2.3% to £17.2billion in the six months to mid-September. Profits rose 4.7% to £356m. Best of Boden's early Black …

mirror.co.uk

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Sainsbury’s Warns Of Price Rises After £140m ‘barrage’ Of Budget …

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Nov 7, 2024 · Sainsbury’s, which already pays almost £1bn of tax every year, said it was expecting its National Insurance tax bill to go up by £140m following changes announced in …

telegraph.co.uk

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Sainsbury’s Boss: Budget Costs For Businesses Will Lead To Higher ...

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Nov 7, 2024 · Sainsbury ’s has said shoppers will face higher prices as a result of the surprise tax changes announced in last week’s Budget, which will hit the retailer with an extra £140m in …

independent.co.uk

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Sainsbury's Chief Executive Total Pay Rises To £5m - BBC

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Jun 6, 2023 · Sainsbury's boss was paid nearly £5m in cash and shares last year despite a drop in profits at the supermarket. ... Mr Roberts told the BBC that the business was not profiting …

bbc.com

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Sainsbury’s Boss: We Are Not Profiting From High Prices

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19/20 - £255m. 20/21 - negative £164m (covid) 21/22 - £854m. 22/23 - £327m. Revenue/income is important because without that we have no idea how much the increase in profit has added …

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FAQs about Sainsbury’s boss: We are not profiting from high prices Coupon?

Why did Sainsbury's make less profit year-on-year?

"We made less profit year-on-year and that's because we made really conscious decisions to keep our prices as low as we could," Mr Roberts said. Sainsbury's made £690m in pre-tax profit in the year to March, a fall from £730m the previous year. There have been growing calls for more clarity over how food prices are set. ...

How much money did Sainsbury's make in pre-tax profit?

Sainsbury's made £690m in pre-tax profit in the year to March, a fall from £730m the previous year. There have been growing calls for more clarity over how food prices are set. General inflation has fallen to 8.7%, and energy prices and some wholesale food prices have started to fall back. But food price inflation remains stubbornly high at 19%. ...

How much did Sainsbury's boss get paid last year?

Sainsbury's boss was paid nearly £5m in cash and shares last year despite a drop in profits at the supermarket. Simon Roberts' annual pay package is 229 times more than the average worker at the retail chain. The bulk of Mr Robert's package is made up of a £1.7m bonus and £2.2m in share awards. ...

Does Sainsbury's 'fully committed' to passing on savings to customers?

Chief executive Simon Roberts said Sainsbury's was "fully committed" to passing on savings to customers. Food prices have risen sharply over the last year, but some wholesale prices have fallen in recent months and supermarkets have been accused of keeping prices higher than they need to be, hitting the pockets of customers. ...

Why did Sainsbury's boss lash out?

The boss of Sainsbury ’s today lashed out as Labour’s decision to hike employers’ National Insurance rates while delaying reform of business rates. Chief executive Simon Roberts said the grocer’s NI bill will go up by £140 million next year and warned that the “barrage of costs” facing retailers was bound to feed through to higher prices. ...

Why did Sainsbury's lift prices?

The better-than-expected figure was driven by price hikes, with the company lifting prices by 10.7% over the period. Separately, the boss of Sainsbury's said the chain would pass on any falls in the price of goods as soon as it could and was "absolutely determined to battle inflation for our customers". ...