Sainsbury's is continuing to struggle with the announcement of a third profit warning this year.
For the six months to October 9, it is forecasting pre-tax profits of between £125 to £135 million, compared with £366m in the same period last year.
The retailer’s new chief executive, Justin King, is set to unveil his plans to revitalise the business on October 19.
The warning pushed Sainsbury’s shares down by more than 3 per cent at the start of trade this week, however they have since recovered and are now only down by around 2 pence.
