Sainsbury's say they will cut prices at its stores to compete with Tesco and Asda as the supermarket giant predicts flat profits.
The UK's second-largest supermarket chain revealed a 4.2 per cent increase in annual sales, excluding fuel, reaching £26.6 billion, and boosting its UK grocery market share. Underlying operating profits also saw a 7.2 per cent rise, hitting £1.03 billion for the year ending in March.
