Guidance Update:

  • Sainsbury’s has lowered its outlook regarding profit for 2014.
  • GBP150 million investment in price
  • Improve 3,000 private label products
  • Improve the digital service experience.
  • Reduce the capital expenditure to between GBP500 million and GBP550 million per annum.
  • Plans to open over 8 new supermarkets and 100 convenience stores annually over the next three years.

Overall, Sainsbury’s expects the UK supermarket chains to register negative like-for-like sales for the next few years.