Company Earnings UpdateSainsbury’s (LSE: SBRY) FY19 Results: Improvement in Adjusted Profit Metrics but Comparable Sales Continue to Decline Coresight Research May 2, 2019 Executive Summary For FY19, ended March 9, 2019, Sainsbury’s reported adjusted Retail EBIT up 10.7% and adjusted pretax profit up 7.8%; both metrics came in ahead of consensus. Nonadjusted operating profit, pretax profit and net profit were all down significantly. Adjustments included costs related to the failed merger with Asda, the integration of Argos, replatforming Sainsbury’s Bank and restructuring. Management said the company will invest to improve over 400 supermarkets in FY20 and will invest more in technology to offer greater convenience. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: US Drugstore and Pharmacy Retailing: Themes, Concepts and Innovators—Rightsizing for Relevance; Smaller Footprints for a Bigger ImpactAnalyst Corner: Are You Ready for the Future of Physical Retail? Three Trends in US Retail Real Estate, with Anand KumarAnalyst Corner: Five CPG Sector Insights from This Quarter’s Earnings, with Madhav PitaliyaFinancial Optimism Falls to Lowest Recorded Level: China Consumer Survey Insights
