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. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Five Ways AI Is Being Used in Grocery RetailInternational Travel in China: New Competition as WeChat Pay and Alipay Accept Foreign Payment Cards?Weekly US and UK Store Openings and Closures Tracker 2024, Week 33: LL Flooring To Shutter Nearly 100 Stores Following Bankruptcy FilingDollar Stores Retain Their Appeal: US Consumer Survey Insights 2023, Week 40