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Sainsbury’s says Covid costs have been high, but sales are improving

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Superstore giant Sainsbury’s applauded the sales growth, but Covid costs were high and the group recorded a pre-tax loss of £ 261million in a full year.

But Sainsbury’s chief executive Simon Roberts said: “This year’s financial results have been heavily influenced by the pandemic. Sales of food and Argos are significantly higher, but the cost of protecting colleagues and customers during the pandemic has been high. “

The company said it has maintained good underlying business momentum in the new fiscal year and has started the year strong.

It expects underlying pre-tax profit in the year to March 2022 to exceed that reported in the year to March 2020.

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