Sainsbury 's has posted a nearly 14% fall in underlying pre-tax profits, from £ 681 m to £587m in March YoY. Cost of the intense supermarket price war, falling food prices and deflation contributed to the decline. Sales fell 1.1% to £ 681 and like-for-like sales were down 0.9% during March . Mike Coupe, chief executive, said that food prices had fallen by almost 4pc over the past few years while deflation had persisted at a rate Asda performed the worst of the 'Big Four' supermarkets with a 5.1% drop but Lidl and Aldi increased sales by 12.5% and 15.4% respectively.
Sainsbury 's has posted a nearly 14% fall in underlying pre-tax profits, from £ 681 m to £587m in March YoY. Cost of the intense supermarket price war, falling food prices and deflation contributed to the decline. Sales fell 1.1% to £ 681 and like-for-like sales were down 0.9% during March . Asda performed the worst of the 'Big Four' supermarkets with a 5.1% drop but Lidl and Aldi increased sales by 12.5% and 15.4% respectively.