Sainsbury's shares fall on well-flagged Covid costs | News
By Alec Mattinson2021-04-30T10:57:00+01:00 That booming supermarket sales during the coronavirus pandemic have not translated to a higher bottom line cannot be a surprise to the market, yet Sainsbury’s was the latest grocer to see its share price fall after one-off costs drove it to an annual loss. The supermarket plunged into the red on Wednesday after £485m of Covid-related costs, and more than £600m of restructuring charges for its Argos transformation programme, more than offset a surge in revenues over the past year. Underlying pre-tax profits at the group slumped 39% to £356m in ...