The supermarket giant posted a 1.6% rise in underlying pre-tax profits to £701 million, with sales increasing by 7.3% in the fourth quarter and 9.4% over the year.
Argos sales decreased by 6.6% and clothing range fell by 11.7% in the fourth quarter. Sainsbury's projects underlying retail operating profits between £1.01 to £1.06 billion.
Simon Roberts, Sainsbury's CEO, emphasized putting food back at the core of the company. They aim to grow grocery volumes ahead of the market for profit leverage.
Sainsbury's reduced prices by removing 4,000 products over the past year to support households struggling financially amidst tough conditions.
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