JSNSF - Sainsbury's stock sinks as management lowers prices despite inflation

J Sainsbury plc (OTCQX:JSAIY) is taking bold steps to help customers. However, investors appear less enthusiastic about the noble aims.  Shares of the UK-based grocery group fell over 6% on Thursday largely due to lowered expectations for full-year earnings as inflation takes its toll. Of particular interest is the company’s commitment to actually lowering costs for consumers, even as many peers hike prices to battle inflation. “We know just how much everyone is feeling the impact of inflation, which is why we are so determined to keep delivering the best value for customers,” CEO Simon Roberts explained. “We have been able to drive more investment into lowering food prices funded by our comprehensive cost savings plans. As a result, we continue to inflate behind competitors on the products customers buy most often.” He noted that the company has embarked on a new plan to lower prices on 150 products among

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Sainsbury’s stock sinks as management lowers prices despite inflation