Sainsbury profits to drop by two thirds
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In a statement today supermarket chain Sainsbury said it expected first-half profits to drop nearly two-thirds compared with last year as a result of loss of market share.
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Morrisons today revealed a 7.6% fall in interim pre-tax profits, as the supermarket group suffered another hit from the Safeway chain it took over in March.
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Yahoo, struggling to compete with Google on search and advertising and to adapt to recent changes in management, said yesterday that second-quarter profit dropped 2.3 percent.
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LONDON - J Sainsbury will take a 550 million pound ($1.5 billion) hit to profits this year as it invests to boost sales and reverse falling market share, Britain&#39;s third-biggest supermarket chain said on Tuesday.
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European stocks declined, led by food and beverage companies including Cadbury Schweppes Plc and Groupe Danone SA after Unilever, the world&#39;s largest maker of food and soap, cut its full-year earnings forecast.
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LONDON/AMSTERDAM  - Food and consumer goods giant  Unilever cut its annual profit growth forecast by more than a  half on Monday, blaming wet weather which hit ice cream sales  and stiff competition in washing powders and soaps.
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Supermarket group Morrisons announces a fall in half-year profits, dragged down by losses across its recently acquired Safeway stores.
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Shares in Unilever fall after the Anglo-Dutch consumer goods giant issued a surprise profits warning.
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Troubled grocery chain J Sainsbury PLC, Britain&#39;s third-biggest supermarket retailer, said Monday it expected to announce a big drop in profits for the first half of this year.
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The newspaper publisher and television station operator said  third-quarter profit fell to $2.5 million as ad revenue slumped.
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ABN Amro, the Netherlands' largest bank, is cutting 2,850 jobs as a result of falling profits.
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Grudgingly, J Sainsbury yesterday admitted to what everyone in the stock market has known for weeks - that half-year profits are going to be even worse than the forecasts made when the company last gave guidance on the numbers in July.
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ConAgra Foods Inc., the third-largest US food company, said earnings fell to $242.3 million, or 47 cents a share, in the second quarter ended Nov. 28.
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Lloyd's, the world's biggest insurance underwriting market, has said that first-half pre-tax profit dipped 2.0 percent as a result of lower investment income returns.
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European stock markets were dragged down by a profit warning from Anglo-Dutch consumer goods group Unilever.
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J Sainsbury today revealed it would this year suffer a Â£550m hit in profits, but said it would also recruit 3,000 shop floor staff in an effort to revive sales.
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The newspaper publisher and television station operator said third-quarter profit fell to $2.5 million as ad revenue slumped.