Management reshuffle as Sainsbury's profits slip

The new chief executive of Sainsbury’s unveiled a shake-up of the company’s management team today after seeing profits for the last year slide 2.9%.

Justin King, who joined the troubled supermarket chain two months ago from the food department of Marks & Spencer, made his first move as Sainsbury’s said underlying profits for the year to March 27 fell to £675m (€997m).