Find in the news:
BY COUNTRY

Sainsbury’s Put Plans for New Developments on Hold



Plans for new stores have been put on the backburner by Sainsbury’s, a change in their plans that they say have had an effect on the supermarket chain’s balance sheet.
The firm has taken a total of £633 million ($996 million) in one off charges in the last 6 months. Out of that figure, £287 million ($451 million) is related to the changes in the plans for new stores, with a number of sites no longer to be developed. The majority of the remaining figure relates to existing supermarkets that are unprofitable or only marginally profitable.

Sainsbury’s reported a half yearly loss £290 million ($456 million) before taxes. According to their own figures, like for like sales fell by 2.1% during the 6 months covered by this period.

Sainsburys

Mike Coupe is the Chief Executive of the supermarket chain and said in a radio interview with the BBC that they expect the next couple of years to be “extremely challenging” for the industry. He stated that the truth of the matter is that they are seeing deflation for the first time in about a decade.

Mr. Coupe’s reasoning behind the charges is that since they aren’t going to build so many new, big supermarkets as planned then the land “becomes less valuable”. It has been reported by the BBC that around 40 proposed supermarket developments will now be shelved in different parts of the UK.

Changes in Shopping Habits
The changes in people’s shopping habits was also noted as a factor in decreased sales at the company’s stores. Sainsbury’s admitted that shoppers were now more likely to shop more frequently but using online stores, convenience stores and discount retail chains. 

However, the company has “robust plans” to face up this challenging situation. Among their ideas for increasing customer sales again is a scheme that will involve them investing around £150 million ($236 million) in price cuts on their goods.  The UK’s supermarkets have already entered into a tough price war that has seen chains such as Aldi, Asda and Lidl grab part of Sainsbury’s’ market share.
 

More about shopping malls in the United Kingdom



YESTERDAY, Spain:
The new store on Paseo de Gracia reflects the brand's British style
Sep 29, 2022, Russia:
The third quarter was strongly influenced by the decision to cease sales in Russia and the subsequent closure of the business.
Sep 28, 2022, United Kingdom:
IKEA cooperates with British grocery giant Tesco, launching a new service.
Sep 27, 2022:
McDonald's Japan has been raising prices on about 60% of its products since September 30.
Sep 22, 2022, France:
Palm Angels expands its geography and enters the French market with the opening of a store in Paris.
Sep 20, 2022:
The new retail space will appear in the trendy Garosu-gil neighborhood of Seoul.
Friend
and Follow
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us