From Yahoo Finance: 2025-04-17 10:34:00

British supermarket chain Sainsbury’s saw a 76.6% increase in after-tax profit to £242m for FY24/25. Statutory revenue, inclusive of fuel but excluding VAT, rose 1.8% to £32.81bn. Retail sales, excluding VAT and fuel, reached £31.56bn, with Sainsbury’s brand growing 4.2% to £26.6bn and Argos declining 2.7% to £4.9bn.

The final quarter showed strong sales growth across all brands, with Sainsbury’s and Argos seeing increases of 4.1% and 1.9% respectively, driven by online traffic. Retail underlying operating profit rose 7.2% to £1.04bn, with cost-saving measures yielding £350m in savings in FY24/25.

Sainsbury’s set an ambitious target to achieve £1bn in cost savings by March 2027. CEO Simon Roberts highlighted the company’s transformation over the past four years, focusing on value, quality, and service. Expectations for FY25/26 include outpacing market growth in grocery volumes and retail underlying operating profit of around £1bn.

Sainsbury’s anticipates profit growth driven by Nectar’s contribution and cost-saving initiatives. The company aims to continue delivering personalized value and loyalty, with a commitment to resilience and sustainability in the UK food system. In January 2025, Sainsbury’s revealed a three-year Next Level strategy and corporate restructure, leading to the cutting of 3,000 jobs.

Read more: Sainsbury’s reports 76.6% surge in after-tax profit in FY24/25