J Sainsbury sees 2023 profit toward upper end of views on robust Christmas period

J Sainsbury PLC said Wednesday that it expects to deliver profits for fiscal 2023 toward the upper end of its current guidance following record trading during the Christmas period. The U.K. grocer SBRY, -0.53% said like-for-like sales excluding fuel rose 5.9% in the 16 weeks ended Jan. 7 compared with the same period a year

Financial Press

Published

January 11, 2023

j-sainsbury-sees-2023-profit-toward-upper-end-of-views-on-robust-christmas-period

J Sainsbury PLC said Wednesday that it expects to deliver profits for fiscal 2023 toward the upper end of its current guidance following record trading during the Christmas period.

The U.K. grocer SBRY, -0.53% said like-for-like sales excluding fuel rose 5.9% in the 16 weeks ended Jan. 7 compared with the same period a year ago. Like-for-like sales including fuel rose 6.8%, it said.

The FTSE 100 listed company currently expects underlying pretax profit for the year ending March to be toward the upper end of the guidance range of between 630 million pounds and 690 million pounds ($765.5 million and $838.4 million).

The company said the performance of its digital retailer business Argos was exceptional over the Christmas week.

Write to Michael Susin at michael.susin@wsj.com

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