UK's Sainsbury's warns budget tax rises will be inflationary

Nov 7, 2024 · Flags 140 mln stg hit to 2025/26 tax bill; First half 2024/25 profit up 3.7%; Q2 like-for-like sales, ex fuel, up 4.2%; Expects strong Christmas performance; Maintains full-year …

7%
OFF

UK's Sainsbury's Warns Budget Tax Rises Will Be Inflationary

1 week from now

Nov 7, 2024 · Flags 140 mln stg hit to 2025/26 tax bill; First half 2024/25 profit up 3.7%; Q2 like-for-like sales, ex fuel, up 4.2%; Expects strong Christmas performance; Maintains full-year …

reuters.com

3%
OFF

UK's Sainsbury's Warns Budget Tax Rises Will Be Inflationary - U.S.

1 week from now

Nov 7, 2024 · Grocery sales rose 5.3% and general merchandise and clothing sales in Sainsbury's stores were up 2.2%. However, sales at the Argos business fell 1.4%. ($1 = …

usnews.com

£140
OFF

Sainsbury's Boss Warns Barrage Of Budget Costs Will Lead To Higher ...

1 week from now

Updated: 11:44 EST, 7 November 2024. Warning: Simon Roberts, the boss of Sainsbury's, warned that changes to national insurance made by the Government will add £140m to its tax …

thisismoney.co.uk

£76
OFF

Sainsbury’s: FTSE 100 Retailer Warns Reeves’ Budget May Push Up …

1 week from now

Nov 7, 2024 · Separately, Sainsbury’s told markets this morning that profit after tax in the first half of the year fell by 51 per cent to £76m due to post-tax costs of £176m predominantly related to …

cityam.com

£50
OFF

Sainsbury’s Warns On Profits Amid ‘significant External Pressures’

1 week from now

Apr 28, 2022 · The bank, which Sainsbury’s considered selling after a period of poor performance, returned to profit in the year and paid a £50mn dividend to the parent group. However the …

ft.com

£500
OFF

Sainsbury's Boss Warns "unexpected And Very Significant" NI Hike …

1 week from now

Sainsbury’s pay around £500 million a year in business rates and has a total tax bill of around £1 billion. Create a FREE account to continue reading Registration is a free and easy way to ...

standard.co.uk

£140
OFF

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

1 week from now

Nov 7, 2024 · Accessibility help Skip to content. 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. …

ft.com

3%
OFF

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

1 week from now

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

£500
OFF

Sainsbury's Warns Of £500m Hit To Profits - Business Insider

1 week from now

Apr 30, 2020 · Sainsbury's has warned over a coronavirus hit to profits of more than £500 million despite surging grocery sales, and said social distancing in stores is likely to remain …

insider.co.uk

£140
OFF

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

1 week from now

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

£500
OFF

Sainsbury's - BusinessInsider

1 week from now

Jan 19, 2024 · Sainsbury's boss warns that pressure on household budgets will only intensify. ... Sainsbury's warns of £500m hit to profits. Sainsbury's. The retailer believes the recent rise in …

insider.co.uk

£500
OFF

Sainsbury's: Bumper Grocery Sales Help Offset £500m Hit To Profits

1 week from now

Jul 1, 2020 · Sainsbury's: Bumper grocery sales help offset £500m hit to profits. The company warns the coming months are expected to remain challenging as the country emerges from …

sky.com

£200
OFF

Sainsbury's Takes A £200 Million Hit From Store Closures

1 week from now

Nov 7, 2019 · Sainsbury's profits slumped after it took a £203 million hit to its balance sheet from a string of store closures. The company is attempting to costs by £500 million. Pre-tax profits …

insider.co.uk

3%
OFF

Sainsbury's Warns Of 'uncertain' Outlook As Asda £12bn Merger …

1 week from now

Nov 8, 2018 · Supermarket Sainsbury's has reported a 20.3% rise in underlying pre-tax profits to £302 million for the six months to September 22.. On a statutory basis, pre-tax profits dropped …

insider.co.uk

FAQs about UK's Sainsbury's warns budget tax rises will be inflationary Coupon?

Will Sainsbury's cost rise?

Mr Roberts said Sainsbury’s will see costs rise by £140 million due to the changes, while costs will also be pushed higher by an increase in the national living wage. He said the “unexpected barrage of costs” will “feed into a higher level of inflation” for consumers. ...

Why is Sainsbury's facing higher inflation?

Sainsbury’s has said shoppers will face higher inflation as a result of shock tax changes from last week’s Budget, which will hit the retailer with an extra £140 million in costs. ...

Does Sainsbury's have a big tax hit?

Sainsbury’s joins a host of other big firms this week - including Marks & Spencer and JD Wetherspoon - that have also highlighted big hits to their tax bills. 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. ...

Did Sainsbury's keep its forecast for full-year profit?

LONDON (Reuters) - British supermarket group Sainsbury's on Thursday kept its forecast for full-year profit as it reported a 3.7% rise for the first half, with robust grocery sales offset by a weaker performance in general merchandise. (Reporting by James Davey; Editing by Catarina Demony) Copyright 2024 Thomson Reuters. ...

Will Sainsbury's cost hikes feed through to higher prices?

The boss of supermarket giant Sainsbury’s warned cost hikes in last week’s Budget would feed through to higher prices. Chief executive Simon Roberts said Labour Chancellor Rachel Reeves ’ announced jump in the rate of employers’ national insurance - and lowering of the salary threshold on which it is paid - would add £140million to its tax bill. ...

Will Sainsbury's be able to absorb the rises?

Reeves has said that businesses would have to absorb some of the rises through their profits. In its half-year results published on Thursday, Sainsbury's stuck to its full-year forecast of up to 10 per cent profit growth after a 3.7 per cent increase in the first half, with robust grocery sales offset by weakness in general merchandise. ...