The new boss of J Sainsbury, Mike Coupe, is expected to cut the supermarket chain’s dividend and trim investment in new stores.
The company’s half-year profits, due out on Wednesday, are expected to have fallen by 11% to £355m.
A reduction in a payout would be felt keenly by Sainsbury’s biggest investor, the Qatar Investment Authority, which has a 26% stake and is currently trying to buy Canary Wharf.
Meanwhile, Sainsbury’s first joint venture store with Danish discounter Netto has opened in Moor Allerton, Leeds.
Times, 42
Financial Times, 30
