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Sainsbury's echoes Tesco warning as Iran war hits outlook
- On Apr 23, 2026, Sainsbury warned that the Iran war in the Middle East could drag profits lower this year, echoing cautious sentiments recently voiced by market rival Tesco regarding consumer spending impacts.
- The Retail group reported a £1.025 billion underlying operating profit for the last year, representing a 1.1% decline compared to the previous period as it navigates current market challenges.
- Simon Roberts, Sainsbury's chief executive, noted shoppers are "even more focused on the cost of living" as the company faces higher exposure through Argos, which accounts for About one quarter of sales.
- Forecasting total underlying operating profit for 2026/27 between £975 million and £1.075 billion, the company stated the "duration and extent of these impacts is very uncertain and this is reflected in our profit guidance."
- The Food and Drink Federation warned that food prices could rise by almost 10%, while broader British economic pressures persist as Food inflation hit 3.7%, further squeezing household budgets.
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Supermarket giant warns Rachel Reeves: 'Act now or grocery bills will rise' in dire cost of living update
Sainsbury's has warned the ongoing Middle East conflict will impact both shoppers and its operations, unless Chancellor Rachel Reeves intervenes.The supermarket also said it expects underlying operating profits to come in between £975million and £1.075billion for the current financial year, reflecting growing uncertainty over costs.The outlook follows similar caution from Tesco, which last week highlighted pressures linked to the same geopolitic…
·London, United Kingdom
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The National
The NationalSainsbury’s and WH Smith among latest firms facing Iran war impact
On Thursday, Sainsbury’s warned that the war would ‘impact both our customers and our business’.
·Northern Ireland, United Kingdom
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Coverage Details
Total News Sources26
Leaning Left9Leaning Right2Center10Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 43%
C 48%
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