Nov 05, 2020 / 09:30AM GMT
Kevin O'Byrne - J Sainsbury plc - CFO, Member of the Operating Board & Director
Good morning, and thank you for listening into this presentation. I will cover the financial highlights for the 28 weeks to September '19. First, before Simon covers our operational performance and the details of our updated strategy, let me start with the key numbers.
Retail sales, excluding fuel, were up just over 7%, with strong grocery and general merchandise growth and some modest dilution from lower clothing sales. Fuel sales were down 45% in the period, so retail sales, including fuel, were down 1%.
Retail operating profits increased 27%, reflecting very strong execution and efficiency across the business and a good level of operational gearing in both our Grocery business and Argos. This was despite first half cost of protecting customers and colleagues from COVID exceeding the benefits of the business rates relief.
Financial Services made a loss of GBP 55 million in the half, in line with our expectations when we last spoke to you, largely reflecting an increase in
Half Year 2021 J Sainsbury PLC Earnings Call - Q&A Session Transcript
Feb 14, 2024
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