Sainsbury's posts small profit rise, warns of Middle East impact
Business
Sainsbury's just reported a small profit bump for the past year, but the supermarket giant is warning that ongoing conflict in the Middle East could make things tougher.
With U.S.-Israel tensions affecting Iran, they are bracing for profits to possibly drop this year as shoppers tighten their budgets and costs go up.
Sainsbury's hits decade high UK share
Even with all the uncertainty, Sainsbury's has grabbed its biggest slice of the UK grocery market in a decade by keeping prices sharp.
Sales are up 4.3% to nearly £30 billion.
On top of that, they are leaning into robotics and A.I. to work smarter, plus opening more stores: 10 new supermarkets and 20 convenience shops are on the way this year after a big expansion last year.