Sainsbury’s sales up 8.6% in Christmas quarter By Reuters

LONDON (Reuters) – British supermarket group Sainsbury’s on Thursday reported underlying sales up 8.6% over the key Christmas quarter as it benefited from out of home eating and drinking being restricted by COVID-19 regulations.

Sainsbury’s said it now expected after forgoing business rates relief of 410 million pounds ($557 million) to report underlying profit before tax of at least 330 million pounds in its year to March 2021, down from 586 million pounds in the previous year.

It’s previous forecast was at least 270 million pounds.

($1 = 0.7361 pounds)