Sainsbury's warns of £500 million hit to profit from coronavirus

LONDON (Reuters) - British supermarket group Sainsbury's warned the impact of the coronavirus pandemic on current year profit could be over £500 million and said it would defer any dividend payment decisions until later this year.However the group, No. 2 to market leader Tesco , said under its "base case" scenario the hit to profit would be broadly offset by stronger grocery sales and about 450 million pounds in business rates relief from the UK government.That would mean Sainsbury's..