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J Sainsbury said he expects profits to be flatline this year and vowed to remain competitive amid signs of a supermarket price war in the UK.
The UK’s second-largest supermarket group said Thursday it expects to generate a basic operating profit of around £1 billion from its retail business in the current fiscal year, which will be held until March 2026.
Chief Executive Simon Roberts said the group was committed “more than anything else” to ensure that it remains “strong competitive” and that its customers gain “great value.”
The comment said the ASDA signaled the launch of a potential price war after its bigger rival Tesco said profits would be lower last week to give more undulations to cut prices.
Sainsbury has listed operating income underlying its operating income, which is operating income of just over £1 billion over the 12 months from March to March 2025. He said the increase in profits of over 10% at Sainsbury’s was partially offset by a decline in profits at Sister Business Argos.
Excluding retail sales and fuel, including VAT, it rose 3.1% to £31.5 billion.
This is a developing story
