It said today it still expected 2022-23 underlying pre-tax profit of between £630-690m, down from the £730m made in 2021-22.Amid a worsening cost of living crisis, Sainsbury's said trading momentum had remained strong in the first few weeks of its second half and it had continued to make gains in market share volumes.
"We are well placed through the peak trading period and into next financial year to support customers as they manage further cost of living pressures," it said. "We are confident in our competitive position in the face of macro challenges and operating cost inflation," it added.Second-quarter like-for-like sales, excluding fuel, rose 3.7%, having fallen by 4% in the first quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: