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Sainsbury's Reports Full-Year Loss

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http://www.bbc.co.uk/news/business-32603932

Supermarket group Sainsbury's has reported a loss of £72m for the year to March.

The results were hit by a number of one-off costs, including a write down in the value of some of its stores.

Excluding the one-off costs, underlying pre-tax profits fell 14.7% to £681m, compared with £798m the year before.

Like-for-like sales, excluding fuel, fell 1.9% as the chain faced competition from discount chains such as Lidl and Aldi.

Go recovery....

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^ Does anyone remember those pictures I took before Tesco announced those big losses? It's in that big Tesco thread somewhere (around august 2014 - ah here it is http://www.housepricecrash.co.uk/forum/index.php?/topic/195158-tesco-uk-sales-further-fall-blamed-on-economy-merged-thread/page-23#entry1102566645)Perhaps someone at head office read that thread.

Shift those slow moving lines! Stock on shelves collecting ice is "dead money".

PIC_0003.JPG

Edited by 200p

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The hilarious thing is, the CEO is blaming the fall in sales on people having MORE money in their pockets and eating out instead! I think Sainsbury's is up s*** creek just like Tesco is. In my recent experience they are more expensive than Tesco and tend to have less footfall. For some strange reason Andover in Hampshire (one of my local towns) has two medium sized Sainsbury's within a mile of each other which are both usually empty, even at supposedly busy times. Why they don't combine the stores into one decent sized supermarket is beyond me, and having mentioned it to the staff they don't seem to know either. And this is with Lidl closed for refurbishment and Aldi set to open a store a mile and a half up the road early next year! Asda is always busy however.

On the subject of troubled retailers, there's a Millets in the town centre. I often walk past it on the way to the bank during lunchtimes, and there is NEVER anybody in there besides two staff members who must be wondering how much longer they will have a job.

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Walked past a large Vision Express shop today with about 10 staff talking amongst themselves and not a single customer.

Not that surprising when you can buy reasonable glasses for £1 each in the pound shops.

Just along the street a clothing outfitters closed. The "closing down sale" had jeans in the sale for about £70 a pair. They can't have been having a laugh because plenty will have lost jobs.

Edited by billybong

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Something odd happening in the local Tesco and Sainsbury stores today - big discounts on products. Haagen Dazs for 93p, chocolate dropped considerably. Beer down.

They're trying to kill the electorate?

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As Tesco they seem to have brought the bank in-house. Lets move more into banking - boe lor ? Read something about empty or under used space that was shocking but I can't remember thr specifics.

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