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...Křetínský, a lawyer-turned-energy tycoon, is the largest shareholder in IDS with a 27.5 per cent stake and has been a prolific dealmaker in the UK, buying stakes in supermarket chain J Sainsbury and London...
...“We already do this successfully with our insurance products,” supermarket chain Sainsbury said in a statement on Thursday....
...UK supermarket Sainsbury’s said it would buy back £200mn of shares and cut a further £1bn of costs as it updated its strategy, which is designed to attract more shoppers to its stores....
...Roberts said it was “business as usual for now at Sainsbury’s Bank”....
...Sainsbury’s expects to have taken £1.3bn of costs out of the business over the past three financial years to March 2024....
...Sainsbury’s has posted a 7.4 per cent increase in sales over the festive quarter, boosted by its premium ranges and promotions....
...J Sainsbury was among the biggest fallers on the FTSE 100 on Wednesday after strong grocery sales failed to allay concerns over its struggling general merchandise business....
...Sainsbury’s tried to sell its bank in 2021 and failed. And these are small morsels....
...UK supermarket chain J Sainsbury has forecast that full year profit will come in at the upper half of the range it had previously flagged, as grocery sales rose by a tenth and market share continue to climb...
...David Sainsbury was a generous donor throughout the New Labour years when Tony Blair was prime minister....
...Shares in Sainsbury’s were up 5 per cent to £2.75 in early London trading....
...For Sainsbury’s chief Simon Roberts, the improvement is the culmination of a three-year strategy. When he joined in 2020, Sainsbury’s was a relatively expensive place to shop....
...Sainsbury got a seat in the House of Lords and became Labour’s science minister....
...“We can’t respond to what the share price does on a daily basis,” said Sainsbury, adding that Close Brothers could not control the extent of the regulatory probe....
...Sales momentum slowed in the second half of the year, however, and despite the uptick in sales, industry data show that Asda has consistently underperformed its bigger rivals Tesco and J Sainsbury....
...Lord David Sainsbury, former chair of the eponymous supermarket chain, donated £3mn last year. His daughter, Francesca Perrin, donated £1mn....
...Last month Sainsbury said it planned a “phased withdrawal” from its banking business....
...UK food price inflation is starting to taper, according to retail group Sainsbury’s, adding to early signs that the cost of living crisis may soon begin to ease....
...Rival J Sainsbury launched its rival scheme, Nectar Prices, in April. Sainsbury’s said at its half year results it had added more than 3mn Nectar card members since April. It now has 18mn members*....
...Sainsbury’s claims a marketing return on investment of £2-£4 for every £1 invested....
...Sainsbury’s expects its Nectar360 business, which runs its loyalty programme, to generate £90mn of incremental profits by March 2026....
...Tesco and Sainsbury’s were among a wave of high-profile retailers that pushed into financial services in the 1990s, initially through joint ventures with established high-street banks....
...Both Tesco and Sainsbury’s gained market share from Asda and Morrisons in the period, according to Moody’s....
...On Wednesday, figures from Sainsbury’s showed strong grocery sales but a weaker outcome in non-food categories....
...That didn’t pan out as envisioned: Tesco and Sainsbury have both staged retreats this year....
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