Lower margins: An employee is seen moving shopping trolleys in front of a Sainsbury’s store in London. The retailer is expecting profits to fall this year as shoppers are squeezed by higher costs including food, energy and petrol. — AFP
LONDON: J Sainsbury Plc has advised shareholders to vote against a resolution forcing the United Kingdom’s second-largest grocer to commit to wage levels calculated by a campaigning organisation.
More than 100 investors, including HSBC Holdings Plc, Legal & General Investment Management and Fidelity International demanded in March that Sainsbury accredit itself with the Living Wage Foundation.
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