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: Shoptalk Europe 2023 Day One: Identifying Real Value in Sustainability, Generative AI and DataLivestreaming in Western Markets: A Beauty Renaissance Is on the HorizonThe Strategic Edge for Startups and Retail’s AI Evolution—Insights from the Israel-US Connect: Retail-Tech Innovation Welcome ReceptionSeptember 2023 US Retail Traffic and In-Store Metrics: Shopper Yield Decline Softens Despite Negative Trends in Store-Based Sales and Traffic