Sainsbury’s has reported a 9% fall in half-year profits, but sales rose.
The UK’s second largest supermarket chain said profits were £251m in the 28 weeks to the 23 September, while like-for- like sales excluding fuel went up by 1.6%.
It said the fall in profits was due to price cutting, wage cost inflation and the consolidation of Argos.
Sainsbury’s took over catalogue retailer Argos and Habitat in 2016 in a £1.4bn deal.
Sainsbury’s share price fell more than 3% following the release of the results.
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