Sainsbury's preliminary results
Sainsbury's has just published its preliminary results for the year ending 4 March 2023. You can see the full report >> here <<. If you've got any views, please send them across ASAP as this story is BREAKING.
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These results show all supermarkets are being squeezed by the cost of raw materials. Sainsbury’s increased market share and revenue, but still saw profits fall. This is an indicator of what to expect from their peers. It does put them in a great position for the rest of 2023 as inflation falls away.
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Sainsbury's Breaks Profit Records, But Are Customers Paying the Price?
Supermarket giant, J Sainsbury, has just announced its preliminary results for the fiscal year 2022-2023. With a 34.1% YoY increase in underlying profits, the company is flying high. But is everything as rosy as it seems?
Critics argue that Sainsbury's strong performance comes at the expense of small businesses, as the company expands its network of convenience stores and improves its online presence. Others question the sustainability of the company's ambitious green agenda and social initiatives, raising concerns about greenwashing.
Despite the controversy, Sainsbury's remains optimistic about its future prospects, with plans to invest in digital transformation and improve the customer experience. But will the company's strategic priorities ultimately benefit its customers and the wider community, or is it just a case of big business getting bigger at any cost?
Supermarket giant, J Sainsbury, has just announced its preliminary results for the fiscal year 2022-2023. With a 34.1% YoY increase in underlying profits, the company is flying high. But is everything as rosy as it seems?
Critics argue that Sainsbury's strong performance comes at the expense of small businesses, as the company expands its network of convenience stores and improves its online presence. Others question the sustainability of the company's ambitious green agenda and social initiatives, raising concerns about greenwashing.
Despite the controversy, Sainsbury's remains optimistic about its future prospects, with plans to invest in digital transformation and improve the customer experience. But will the company's strategic priorities ultimately benefit its customers and the wider community, or is it just a case of big business getting bigger at any cost?
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The announcement by Sainsbury's is a bit of a surprise. Whilst the big energy giants have profiteered over the past 12 months, Sainsbury's has done the right thing by keeping their prices as low as possible whilst still maintaining a healthy margin. I have noticed their overall pricing on an average basket of staples is cheaper when compared to their nearest competitors excluding the discounters.