Sainsbury’s has reported a 13.8% fall in pre-tax profits to £587m for the 52 weeks to 12 March 2016, compared with £681m for the same period last year.
Sainsbury’s has reported a 13.8% fall in pre-tax profits to £587m for the 52 weeks to 12 March 2016, compared with £681m for the same period last year.
Group sales were down by 1.1% to £25,829m.
Chief executive Mike Coupe said: “We are making good progress against the strategy we outlined to shareholders in November 2014. We continue to outperform our main supermarket peers and maintain market share in a competitive, deflationary environment.”