{"id":240241,"date":"2023-11-03T01:59:21","date_gmt":"2023-11-03T01:59:21","guid":{"rendered":"https:\/\/lovemainstream.com\/?p=240241"},"modified":"2023-11-03T01:59:21","modified_gmt":"2023-11-03T01:59:21","slug":"sainsburys-boss-says-hes-finally-winning-back-shoppers-from-aldi-and-lidl-the-sun","status":"publish","type":"post","link":"https:\/\/lovemainstream.com\/lifestyle\/sainsburys-boss-says-hes-finally-winning-back-shoppers-from-aldi-and-lidl-the-sun\/","title":{"rendered":"Sainsbury's boss says he\u2019s finally winning back shoppers from Aldi and Lidl | The Sun"},"content":{"rendered":"
SAINSBURY\u2019S boss says he\u2019s finally winning back shoppers from Aldi and Lidl.<\/p>\n
Chief executive Simon Roberts reported that three years after setting out his strategy to become more competitive, the supermarket giant has narrowed its price gap with all its rivals.<\/p>\n
<\/p>\n
\u00a0Crucially it has started to win market share from Aldi and Lidl.<\/p>\n
Mr Roberts claimed Sainsbury\u2019s was now \u201cthe most competitive we have ever been on price\u201d.<\/p>\n
He said: \u201cCustomers are voting with their feet, coming to Sainsbury\u2019s more often and buying bigger baskets.\u201d<\/p>\n
The retailer\u2019s food sales have risen by ten per cent in six months.<\/p>\n
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Mr Roberts said: \u201cI\u2019m pleased to say inflation is coming down and we are passing savings on to customers.\u201d<\/p>\n
In the past year, Sainsbury\u2019s has launched a personalised version of its Nectar loyalty card scheme and expanded its Stamford Street range of cheap own-brand groceries to stop losing customers to budget rivals.<\/p>\n
Mr Roberts claimed that an average Nectar member now saves around \u00a310 on an \u00a380 weekly shop.<\/p>\n
But he admitted that this investment in lower prices was to blame for flat underlying profits of \u00a3340million.<\/p>\n
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Statutory pre-tax profits dropped 27 per cent last year \u2014 from \u00a3376- million to \u00a3275million \u2014 largely because the retailer had a one-off gain in 2022 from a legal settlement.<\/p>\n
The company said that sales of non-food items, including its Tu clothing range and Argos business, fell by 2.6 per cent over the summer because of poor weather.<\/p>\n
Mr Roberts said: \u201cWe had a washout summer compared to last year\u2019s blistering temperatures.\u201d<\/p>\n
Sainsbury\u2019s now expects to make profits of between \u00a3670million and \u00a3700million this year.<\/p>\n
Mr Roberts said he expected shoppers to stick to careful budgets this Christmas. But he added they are likely to swap eating out or getting a takeaway for an upmarket ready-meal.<\/p>\n
Jingle Bell Rick<\/h2>\n
\n \n<\/p>\n
EIGHTIES pop legend Rick Astley makes a cheesy cameo appearance in Sainsbury's Christmas advert.<\/p>\n
The Never Gonna Give You Up singer, 57, pops up in the clip \u2014 which sees a little girl ask over the supermarket tannoy what Santa has for his Christmas dinner \u2014 with Rick suggesting \u201ccheese\u201d.<\/p>\n
Sainsbury\u2019s is not the only brand with a musical star in its advert this year \u2014 Asda\u2019s features Michael Buble.<\/p>\n
300 jobs to go at Thames<\/h2>\n
<\/p>\n
THAMES WATER is cutting 300 jobs just months after a financial bailout.<\/p>\n
It currently employs 8,200 staff and says about half of the roles it is cutting are vacant. Most of them are in its retail and digital divisions.<\/p>\n
A spokesman said: \u201cThe last year has been challenging and we continue to take a rigorous approach to financial discipline to operate within budget.<\/p>\n
\u201cWe need to make more difficult but necessary decisions.\u201d<\/p>\n
In July, the utility firm raised \u00a3750million of emergency cash from shareholders amid speculation the government could have to nationalise the financially stretched firm.<\/p>\n
Thames had a \u00a314billion debt pile and needs to overhaul its pipes and sewage network after more than a decade of underinvestement.<\/p>\n
Its recovery has been further hampered after it was issued with a \u00a3100million fine by water regulator OFWAT for sewage spills and water leaks last year.<\/p>\n
BT boost for boss<\/h2>\n
BT\u2019s outgoing boss Philip Jansen has bowed out with better than expected results.<\/p>\n
The telecom firm said that underlying earnings had risen 3 per cent to \u00a32.06billion for the three months to the end of September, above predictions.<\/p>\n
Although shares rose 5 per cent they are still 55 per cent lower than where they were when Mr Jansen started due to the high cost of building its fibre broadband network.<\/p>\n
\u00a0Allison Kirkby takes over as CEO early in the new year.<\/p>\n
Market's relief<\/h2>\n
LONDON\u2019S financial markets showed their relief yesterday that the Bank of England kept interest rates unchanged.<\/p>\n
The FTSE 250 jumped 581.41 points to 17,767.30. The FTSE 100 also had gains.<\/p>\n
Yields on UK government bonds, known as gilts, fell as traders hoped the era of endless rate hikes might be over.<\/p>\n
\u00a0The yield on a ten-year gilt fell to 4.38 per cent, compared to 4.6 per cent earlier this month, while the 30-year gilt is down below 5 per cent again. The pound has also stabilised against the dollar.<\/p>\n
PUMPKIN spice lattes and higher prices helped Starbucks to toast record sales. The coffee giant said sales rose by a fifth when its autumn menu launched \u2014 despite consumers feeling the pinch. Overall, sales are up eight per cent in the last quarter.<\/p>\n
Shelling it out<\/h2>\n
SHELL has handed back another \u00a32.8billion to shareholders as its oil, gas and trading arm booms.<\/p>\n
It posted \u00a35.08billion profits for the last three months, up from \u00a34.2billion in the second quarter. But it\u2019s down on the \u00a37.7billion last year when energy prices were higher due to the war in Ukraine.<\/p>\n
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Shell has now handed back a total of \u00a318billion to investors this year.<\/p>\n
Shell is valued much less than US rivals Chevron and Exxon, a long source of frustration for the City.<\/p>\n
SHARES<\/h3>\n
BARCLAYS <\/strong>up 3.90 to 133.24p<\/p>\n
BP <\/strong>up 4.20 to 498.60p<\/p>\n
CENTRICA <\/strong>down 4.70 to 157.60p<\/p>\n
HSBC <\/strong>up 11.20 to 601.30p<\/p>\n
LLOYDS <\/strong>up 1.63 to 41.78p<\/p>\n
M&S<\/strong> down 1.10 to 222.90p<\/p>\n
NATWEST <\/strong>up 5.65 to 181.80p<\/p>\n
ROYAL MAIL <\/strong>up 8.70 to 261.20p<\/p>\n
SAINSBURY\u2019S <\/strong>up 10.00 to 271.80p<\/p>\n
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