Sainsbury’s says it expects to remain competitive in a looming supermarket price war.
Both Tesco and Asda have signalled price cuts and the UK’s second biggest grocer vowed to keep prices down.
Sainsbury’s was committed “above all else” to sustaining its “strong competitive position” and to ensuring that customers get “great value,” according to chief executive Simon Roberts.
Good news for customers
Retail sales, excluding fuel, have been rising at just above 3%, in line with analysts’ expectations.
Tesco said it expected its profits would be lower this year giving it more room to cut prices.
This is good news for households who have been subject to a barrage of price hikes in April.
Sainsbury’s preliminary results for the 12 months to March 1 2025
- Sainsbury’s full-year sales (excluding fuel) £26.6bn, up 4.2%; Argos (which Sainsbury’s owns) full-year sales £4.9bn, down (2.7)%; fuel full-year sales £4.7bn, down (8.9)%
- Retail underlying operating profit £1,036m, up 7.2%, with double-digit growth at Sainsbury’s partially offset by lower profits at Argos.
- Statutory profit after tax £242m, up 77%.
Simon Roberts, Chief Executive of J Sainsbury plc, said: “We’ve transformed our business over the past four years. We have created a winning combination of value, quality and service that customers love, investing £1 billion in lowering our prices. More people are choosing Sainsbury’s for their main grocery shop as a result, delivering our highest market share gains in more than a decade.
“We are committed, above all else, to sustaining the strong competitive position we have built – consistently giving customers the great value they have come to expect from Sainsbury’s – and we expect to continue to outperform the market.”
