British supermarket group Sainsbury's warned the impact of the coronavirus pandemic on current year profit could be over 500 million pounds ($623 million) and said it would defer any dividend payment decisions until later this year.
) warned the impact of the coronavirus pandemic on current year profit could be over 500 million pounds and said it would defer any dividend payment decisions until later this year.
That would mean Sainsbury’s underlying pretax profit for the year to March 2021 would be broadly unchanged from the 586 million pounds reported on Thursday for the 2019-20 year.The group’s base case assumes that UK lockdown restrictions would have eased by the end of June, but that the business would continue to be disrupted until mid-September.
Coupe is retiring as CEO on May 31 and will be succeeded by Simon Roberts, the current retail and operations director.
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