"J Sainsbury plc has warned that the conflict in the Middle East will impact both our customers and our business, raising the prospect of lower profits this year as geopolitical pressure feeds through into household budgets and supply chains."
"Chief executive Simon Roberts acknowledged that the duration and scale of the conflict's impact remained very uncertain, while the company expects underlying operating profits for the current financial year to come in between £975 million and £1.075 billion."
"The update highlights the increasingly complex picture facing UK retailers: solid underlying demand, but growing pressure from external shocks, higher input costs and persistent strain on consumer confidence."
J Sainsbury plc has indicated that the ongoing conflict in the Middle East may negatively affect both its customers and business, leading to lower profits this year. The company expects underlying operating profits to range between £975 million and £1.075 billion. Despite a resilient trading performance, the uncertainty surrounding the conflict's duration and impact remains a concern. The retailer reported a slight decline in underlying operating profit but an increase in pre-tax profits, highlighting the complex challenges faced by UK retailers amid rising costs and consumer confidence issues.
Read at London Business News | Londonlovesbusiness.com
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