Sainsbury&#39;s profits weaker than expected
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Sainsbury has confirmed fears of weaker-than-expected first-half profit, following a recent analyst downgrade which sparked an investigation by regulators.
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ALES are still falling at Marks &amp; Spencer, the company revealed today, sparking fresh fears for the retailerâs recovery. The group confirmed that half-year profits will be between Â£285m-295m, in line with
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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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Supermarket group Morrisons announces a fall in half-year profits, dragged down by losses across its recently acquired Safeway stores.
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The world's biggest confectionary group, Cadbury Schweppes, says profits will be lower than expected as wet weather hits cold drinks.
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Leading shares ended weaker, with the FTSE 100 index drifting back below the 4,700 level as the impact of Wall Street's early rally was tempered by a rise in Brent crude to 50 dollars a barrel for the first time, and by weakness in supermarket giant Sainsbury following yet another profit warning, dealers said.
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First-half profit at J Sainsbury has tumbled almost two thirds as Chief Executive Justin King battles to regain market share and restore financial health to the country&#39;s third-largest foodseller.
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Bristol-Myers Squibb Co. BMY.N on  Friday reported a lower third-quarter profit as U.S. revenue  fell amid intense competition for its products from rivals and  generic drugs.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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J Sainsbury bowed to pressure from the City watchdog yesterday and admitted that interim profits were likely to plunge - the third time it has issued a profits warning in the past seven months.
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Costco Wholesale Corp. COST.O on   Wednesday warned of lower-than-expected quarterly profit   because of disappointing gross margins and a tax reserve,   sending its shares down nearly 5 percent.
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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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Supermarket Sainsbury's reports a modest rise in sales over the Christmas period.
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Kroger Co. , the largest U.S. grocery chain, posted a weaker-than-expected rise in quarterly profit on Tuesday due to labor unrest at a distribution center, sending its shares down in early electronic trade.
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Dean Foods Co  reported lower-than-expected fourth-quarter profit and said it was uncertain about raw milk costs in 2008, sending its shares down as much as 8.5 percent.
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Swiss banking giant UBS posted weaker third-quarter net profit on Tuesday, just missing market expectations, hurt by a seasonal fall in trading revenue despite a strong showing by its flagship private bank.
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Kroger Co. , the largest U.S.  grocery chain, posted a weaker-than-expected rise in quarterly  profit on Tuesday due to labor unrest at a distribution center,  sending its shares down in early electronic trade.