Sainsbury's CEO warns UK budget changes may raise prices and inflation despite revenue growth.

Sainsbury's CEO Simon Roberts has warned that recent UK budget changes, including a £140 million increase in national insurance contributions, will likely lead to higher prices for consumers and increased inflation. Despite these challenges, Sainsbury's reported a 2.3% rise in group revenues to £17.2 billion for the 28 weeks ending September 14, attributed to strong sales growth. Roberts urged the government to expedite business rates reforms to alleviate pressure on retailers.

November 07, 2024
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