Sainsbury’s was forced to defend its incoming chairman after a shareholder raised questions over his involvement in Lloyds’ disastrous takeover of HBOS.
Tesco’s strategic alliance with French retailer Carrefour and Sainsbury’s merger with Asda are set to see the likes of Ocado and Iceland come under pressure, according to Moody’s.
London’s top-flight stocks were in the red on Wednesday as trade fears continued to weigh on sentiment.
Supermarket Asda has lost its finance chief Alex Russo, just months after the firm announced it is getting into bed with Sainsbury’s as part of a £12 billion merger.
Sainsbury’s is set to report a dip in first quarter sales this week, with boss Mike Coupe expected to be questioned on the progress of the supermarket’s £12 billion merger with Asda.
Sainsbury’s is set to report a dip in first quarter sales next week, with boss Mike Coupe expected to be questioned on the progress of the supermarket’s £12 billion merger with Asda.
Sainsbury’s and Asda bosses have been roasted over their £12 billion merger by MPs, who accused them of providing “Mickey Mouse figures” in response to questions about the impact on small suppliers.
Oil prices surged at the start of the week ahead of a key meeting of the Organisation of the Petroleum Exporting Countries (Opec).
Sainsbury’s £12 billion merger with Asda could result in higher prices and reduced choice for consumers, according to supermarket rivals and suppliers.
Theresa May has called on retailers to provide competitive wages and bonus schemes for staff amid a furious row over workers’ contracts at Sainsbury’s.