Sainbury’s forecasts profits fall as cost of living crisis bites

Supermarket says ‘significant’ cost inflation is denting margins and squeezing customers’ spare cash

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Sainsbury’s has warned profits will fall in the year ahead as it faces “significant external pressures” including cost inflation and a squeeze on its customers’ spare cash.

The UK’s second-largest supermarket said it expected to make a full-year profit of up to £690m in the year ahead, down from £730m in the year to March 2021, which it said was helped by £100m in extra sales driven by the Covid-19 pandemic.

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J Sainsbury, Supermarkets, Retail industry, Business, Cost of living crisis, Inflation, Economics, Food & drink industry, UK news UK news | The Guardian

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