Sainsbury S Profits Fall 8 As Shoppers Feel The Squeeze Over Christmas J Sainsbury
The supermarket revealed an 8% fall in first-half profit as it said it had invested to keep prices as low as possible with food price inflation in its stores running “comfortably below” the 10% plus that reported for the wider market. The supermarket said its drive to cut costs by £1.3 billion in the three years to 2024, double the savings in the three years to 2020 and a step up from the figure set last year, helped offset “higher than expected operating cost inflation”....