Sainsbury’s profits climb but sales slip as grocer braces for cost-of-living crunch

Exterior of Sainsbury's Holborn store

Sainsbury’s has recorded an uplift in full-year profits but warned that “significant external pressures” would dampen its profits in the upcoming financial year.

Sainsbury’s reported a 104% jump in underlying pre-tax profit year on year to £730m in the 52 weeks to March 5, 2022, up 25% on a two-year basis.

The grocer’s retail sales excluding fuel declined 2.6% year on year to £28.1bn, exacerbated by a 2.3% decline in like-for-like sales excluding fuel during the period.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.