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Sainsbury's ups profit outlook despite drop in Christmas sales

8 days ago   |   By

Image: Tu Clothing, Facebook Tu Clothing owner Sainsbury's has increased its full-year guidance despite a year-on-year drop in sales during the important Christmas period. In the six weeks to January 8, the British supermarket giant's sales were down 2.4 percent compared to a year ago, though they were up 3.1 percent compared to two years ago, prior to the pandemic. The retailer now expects full-year pre-tax profits of 720 million pounds compared to the 660 million pounds it previously estimated. ‘Challenging backdrop' Chief executive Simon Roberts said the company's “significant...
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JD Sports raises full year profit forecast

8 days ago   |   By

Total revenues for the twenty-two week period to January 1, 2022 in JD Sports Fashion Plc's like for like businesses were more than 10 percent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period. The company said that gross margins for the second half are in line with the prior year.
With the sustained positive nature of consumer demand through the second half to date, the group is confident that headline profit before tax for the full year to January 29, 2022 will be ahead of current market expectations, which average 810...
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