Sainsbury’s to splash out £150m on price cuts as it slumps to first-half loss

Sainsbury’s has slumped into the red after taking a one-off charge of £628m to pull out of building 40 new supermarkets and downgrading the value of 40 underperforming stores, just a year after writing off plans for 15 new supermarkets at a cost of £92m.

Bargain-hungry shoppers damaging supermarket sales

Supermarkets are grappling with their first significant fall in sales volumes since the second world war, according to analysts who warned shoppers' efforts to save money are having an "unprecedented effect" on the UK's major supermarkets.