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25 April 2024 Preliminary Results for the 52 weeks ended 2 March 2024 Strongest year of grocery performance driving momentum for Next Level Sainsburys...

Sainsburys reported a better-than-expected 1.6% increase in underlying pre-tax profits to £701m for the year to 2 March.

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Tesco profits soared last year after inflation in the grocery sector lessened substantially and consumer confidence improved.

Here, Clive Black explains how post-pandemic upheaval coupled with soaring energy and food prices is reshaping UK supermarkets.

The new Low Everyday Prices offering from Sainsbury's includes popular brands such as PG Tips, Quaker Oats, Sensodyne Toothpaste and Washing Powder

The amount spent on promotions increased by 4% versus the same month last year, according to data from Kantar, as supermarkets compete to out-do each other on price in an ever-competitive environment.

The supermarket now says Clubcard Price labels will show the unit price - the price per volume or weight, such as per 100g - so they can be compared with other, non-Clubcard Price products.

Sainsburys will slash costs by £1bn over three years so that it can lower prices. Boss Simon Roberts (pictured) did not rule out redundancies.