Company Earnings Update 3 minutesRegister for Free AccessSainsbury’s (LSE: SBRY) FY17 Results: Growing Scale Fails to Prevent Disappointing Erosion of Profitability Coresight Research May 4, 2017 Executive Summary Sainsbury’s reported that group sales were up 11.6% in the year ended March 2017. Revenues were boosted by the acquisition of general merchandiser Argos as well as by growth in clothing and general merchandise, implying meaningful declines in Sainsbury’s grocery sales. Despite the company’s increased scale, operating profit fell by 9.2% and missed the consensus estimate. Lower comparable sales, investment in its offering and cost inflation eroded operating margins. In turn, underlying diluted EPS fell by 10.5%, but was in line with consensus. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Retail-Tech Landscape: Retail MediaFebruary 2024 US Retail Sales: Growth Accelerates—Electronics Stores Rebound; Nonstore Retailers See Strong GrowthDollar Stores: Flexing Muscle in US GroceryConsumer Confidence During the Holiday Season—Analyzing Changes by Demographic: US Consumer Survey Insights Extra