Spielwarenmesse: Sainsbury’s profits decline dramatically

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Sainsbury’s profits decline dramatically

07. November 2019 12:40 h

Store closure costs take heavy toll on the retailer’s first-half results

By toyworldmag.co.uk

Profits at Sainsbury’s have declined dramatically over the first half of the year, after being impacted by costs relating to store closures. In September, Sainsbury’s announced that it would close a number of stores, including numerous Argos outlets as it moves the brand into its supermarkets. The plan to close 125 stores and replace these with 110 convenience stores, as well as inserting 80 Argos outlets into larger stores, is expected to ultimately cost up to £270m, but lead to savings of £500m over the next five years.

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