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Half Year Profits Down at Sainsbury’s

SainsburyWhilst the UK is performing very well at the current moment in time, in fact only yesterday it was announced that the jobless figure throughout Great Britain was down by over 100,000, not all companies are feeling the benefit of the upturn in the UK economy.

It is the supermarket chains that are feeling the pinch at the minute, for many of the low cost supermarkets such as Aldi, Lidl and even Poundland are chipping away at the market leaders’ bottom line profits.

In fact all three of those low cost retailers are massively expanding their store estates in the coming months, and that does of course mean that all of the big supermarket chains need to be wary.

Yesterday it was announced in the UK that the third largest supermarket chain, that being Sainsbury’s have seen their six month profits fall to the lowest level in the last six years, and alarm bells are beginning to ring at their HQ.

Even though Sainsbury’s have been one of the most activate supermarket in regards to facing the low cost retailers head on, and having cut the prices on their range of goods by an enormous £150m collectively recently this hasn’t stopped the mass exodus of customers from their stores to low cost supermarkets.

The markets were very quick to react to this bad news and the shares for Sainsbury’s dropped by a large 7% in value yesterday falling to 253.3p per share which is a decrease of some 19.3p.

As we are heading towards one of the busiest couple of months for retailers with both Black Friday and the Christmas shopping period fast approaching, if you are looking for some retail based Binary Options to trade then Sainsbury’s shares look like they may shortly go into freefall.

Whilst there are also other companies in that market sector, namely Asda and Tesco who are also suffering from a downturn in custom, all eyes are on Sainsbury’s for they do appear to be running out of ideas in regards to how to turn around their business.

However, as a Binary Options trader you can of course place trades on the value of shares going down on any company over any given time period, which is something that you possibly should be considering more so in the value of Sainsbury’s shares, for we are unlikely to see things turning around or that company anytime soon.

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