Sainsbury’s, UK ad spend, Mulberry: Everything that matters this morning

Sainsbury’s cites proposed Asda merger for 13% drop in profits
Sainsbury’s is blaming its proposed merger with Asda, the integration with Argos and restructuring its store management teams for a 13% drop in profit after tax to £144m during the 28 weeks to 22 September.
Underlying profit, however, grew by £51m driven by synergies with the Argos business.
Overall group sales rose by 3.5% to £16,884m, with retail sales excluding fuel up 1.2%. The hot summer caused gro