Sainsbury’s revenue set to dip as worth warfare looms

Sainsbury’s expects the influence of decreasing costs to be comparatively small. It predicts underlying retail revenue will tick down by round £36m over the yr.

That is far under the potential £400m hit introduced by Tesco.

Sainsbury’s set out its expectations because it revealed that full-year gross sales rose by 3.1% to £31.5bn. Pre-tax revenue jumped from £277m to £384m.

Whereas income at Sainsbury’s grew strongly over the 12 months to 1 March, gross sales continued to fall at Argos though it stated that the state of affairs improved because it boosted site visitors to the model’s web site.

The grocery store additionally reported an 8.9% drop in gasoline gross sales to £4.7bn. It blamed “lowered demand” in addition to the decrease price of petrol and diesel on account of “falling commodity costs in a extremely aggressive market”.

Official information launched on Wednesday confirmed that the falling price of motor gasoline helped drive down the general charge of inflation.

Inflation eased by greater than anticipated to 2.6% within the yr to March, from 2.8% in February.