TIDMSBRY

RNS Number : 8589N

Sainsbury(J) PLC

06 June 2022

6 June 2022

J Sainsbury plc

(the "Company")

Annual Report and Financial Statements

AND NOTICE OF ANNUAL GENEral meeting 2022

The following documents have today been posted or otherwise made available to shareholders:

   --    Annual Report and Financial Statements 2022 for the year ended 5 March 2022; 
   --    Notice of Annual General Meeting to be held on 7 July 2022; and 
   --    Form of Proxy for the 2022 Annual General Meeting. 

The above documents may be viewed online at www.about.sainsburys.co.uk/ar2022 and www.about.sainsburys.co.uk/agm2022 .

In accordance with Listing Rule 9.6.1R, a copy of each of these documents in unedited full text will be submitted to the National Storage Mechanism and will be available for viewing shortly at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .

A condensed set of the Company's financial statements and information on important events that have occurred during the financial year and their impact on the financial statements were included in the Company's Preliminary Results Announcement on 28 April 2022.

That information together with the information set out below which is extracted from the Annual Report and Financial Statements 2022 (the "Annual Report 2022") constitute the material required by Disclosure Guidance and Transparency Rule 6.3.5R, which is required to be communicated to the media in full unedited text through a Regulatory Information Service.

This announcement is not a substitute for reading the full Annual Report 2022. Page and note references in the text below refer to page numbers in the Annual Report 2022. To view the preliminary announcement, slides of the results presentation, the transcript of the presentation and the webcast please visit www.about.sainsburys.co.uk/investors/results-reports-and-presentations .

Enquiries

 
 Investor Relations     Media 
 James Collins          Rebecca Reilly 
 +44 (0) 20 7695 0080   +44 (0) 20 7695 7295 
 

Principal Risks and Uncertainties

Risk management is an inherent part of doing business; it balances risk and reward, determined through a careful assessment of both the potential outcomes and impact, as well as risk appetite.

Below and on the following pages, we set out an overview of our risk management framework, the principal risks at year end, ongoing mitigations and how these align to our strategy. The Operating Board monitors these principal risks on an ongoing basis and flexes mitigations where appropriate.

Our approach to risk management

Our risk management framework is designed to:

- identify key risks that are aligned to our strategy but that could prevent us from achieving our strategic objectives

- assess the likelihood of these risks occurring, in combination with both the reputational and financial impact they may introduce

- manage the risks through implementing appropriate mitigation plans and controls, in line with our risk appetite

- monitor and report on our risks, associated mitigation plans and changes to the internal/external environment to the relevant governance fora

The following diagram provides an overview of the key risk management activities undertaken by leadership that support this risk framework and allow the Board to fulfil its obligations under the UK Corporate Governance Code 2018. Please refer to page 61 for the role and remit of these governance bodies.

 
 Divisional leadership teams               - Divisional risk maps reviewed 
  Bottom-up risk identification             and challenged 
                                            - Divisional emerging risk 
                                            map reviewed 
                                            - Monitor risk mitigation plans 
 Governance fora                           - Divisional risks relevant 
  Risk identification and monitoring        to fora area of scope reviewed 
                                            - Governance forum risk maps 
                                            reviewed 
                                          ----------------------------------------- 
 Operating Board                           - Corporate risk map updated 
  Bi-annual Corporate risk updates          and actions monitored 
  and deep dives                            - Risk deep dives received 
                                            - Emerging risk map reviewed 
                                          ----------------------------------------- 
 Audit Committee                                      - Corporate and emerging risk 
  Corporate risk updates, deep                         maps reviewed 
  dives and approve risk framework                     - Risk deep dives received 
                                                       - Risk policy and framework 
                                                       approved 
                                                       - Internal audit reporting 
                                          ----------------------------------------- 
 plc Board                                 - Annual internal controls 
  Review of risk process, corporate         certification by management 
  risks and approval of risk disclosures    - Principal Risk and Uncertainty 
                                            disclosures 
                                          ----------------------------------------- 
 

The plc Board has overall responsibility for risk management, the system of internal control, and for reviewing the effectiveness of these at least annually. As such, they have approved our principal

risks disclosure, as set out on pages 40 to 50. Certain responsibilities have been delegated to the Audit Committee, as outlined on page 73.

 
 COVID-19 
  The COVID-19 pandemic demonstrated that active risk and issue 
  management is an inherent part of doing business. Disruptions 
  to our business as a result of COVID-19 were actively managed 
  either through day-to-day ways of working or if needed, through 
  the Incident Response Team. Reflecting this, we do not have 
  a specific principal risk related to COVID-19, although its 
  impact on our principal risks continues to be assessed by 
  the Board and is set out where relevant, in individual risk 
  disclosures. 
 

Our risk management process

The Risk and Internal Audit team facilitate "bottom up" risk workshops with divisional leadership teams to identify the key risks which may prevent the achievement of their objectives. A risk map is maintained for each division, setting out key risks and their gross, net and target positions. A consolidated view of relevant risks - and the effectiveness of mitigating activities - are also discussed at relevant governance fora, covering safety, data governance and operational resilience.

The Operating Board maintains the overall corporate risk map, which captures the key risks to achieving our strategic objectives.

The Operating Board formally reviews the corporate risk map from a "top down" perspective twice a year, to discuss and agree the level of risk that the business is prepared to accept for each key risk. They also review and challenge the output of the bottom up risk process, considering new risks, movements in the position of risks and key themes.

The target risk position for the corporate risks is also captured to reflect management's risk appetite, where this differs to the current net position. This enables the Operating Board to agree and monitor appropriate actions as required. A risk dashboard is maintained for each corporate risk, setting out the risk, causes of the risk, key mitigations and any actions to reach the target risk position.

Operating Board members also confirm annually that the corporate risk map accurately reflects their view of key risk across the organisation, that they are responsible for managing risks relevant to their division and that internal controls exist to provide reasonable, but not absolute, assurance that the risks in their areas of responsibility are appropriately identified, evaluated and managed; this is also

reported to the Board.

The Risk and Internal Audit team provide the Audit Committee with a risk management update at each meeting, which includes an overview of changes to the corporate risk map and risk disclosures

agreed by the Operating Board for their review and comment.

Risk and Internal Audit also provide independent assurance to management and the Audit Committee over specific risk areas as part of their annual audit plan; risk deep dives were also undertaken with the Operating Board and/or Audit Committee for a selection of principal risks, as set out over the following pages.

The Audit Committee Chair provides updates to the plc Board.

 
 Emerging risks and opportunities 
  Emerging risks and opportunities are also formally reviewed 
  in the year as part of the bottom up divisional risk management 
  process. This allows emerging risks to be considered and discussed 
  by each division and then collated to perform a business-wide 
  assessment of how emerging risks and opportunities may impact 
  our business, considering their potential timeframe and degree 
  of certainty. The outcomes are reported to the Operating Board 
  and Audit Committee and relevant actions are agreed. 
 

Independent review of our risk management framework

During the year, an independent review of our risk management framework was carried out by a Big 4 firm; this review confirmed that we are compliant with the Risk Management requirements of the UK Corporate Governance Code. Actions to further enhance risk management activities were agreed in line with management's appetite. In particular, work continues to define the risk appetite for each corporate risk.

Changes to principal risk disclosures

As described above, the principal and emerging risks are discussed and monitored throughout the year to identify and respond to changes in the risk landscape.

The key change to the risks during the year relates to our previous "Environment and sustainability" principal risk. The risk has been expanded and broadened in line with the launch of our Plan for Better strategic priority (see page 13), which includes our previous Net Zero commitments, but has been broadened to include our responsibilities towards putting our planet and people at the core of our business. There are two key changes.

Firstly, the principal risk now also considers our social objectives, for example, to leave a measurable positive impact on the communities we serve and source from and to make Sainsbury's an inclusive place to work and shop.

Secondly, we consolidated all climate resilience risks - the impact of changes to the environment on our business model - under this principal risk, where previously climate resilience risks were assessed within each of the relevant principal risks. This change also reflects the related governance and oversight processes.

As a result, we are reporting this as a new risk, have renamed it "Environment and social sustainability" and given its increased scope, have reset the associated gross, net and target risk positions. Further information on our ongoing implementation of the TCFD recommendations can also be found on page 17.

The net position of all other corporate risks remain unchanged from last year.

Our Principal Risks

The most significant principal risks identified by the Board and the associated mitigations are set out below. This year, we have ordered them to first show those that have been included in the risk modelling undertaken as part of the preparation of the viability statement (see page 51). This reflects that these have the potential to have the largest impact on the business and is indicated with the following symbol: *

The other principal risks are then set out in no priority order.

We have also more clearly drawn out the link between each principal risk and the group's key performance indicators (see page 30) and continue to highlight the link with the strategy of the business.

The net risk movement from the prior year for each principal risk and uncertainty has been assessed.

Mitigations in place, supporting the management of the risk to a net risk position, are also described for each principal risk.

 
 Ukraine 
  We continue to monitor the situation in Ukraine and the associated 
  impacts this may cause across our principal risks, with regard 
  to our customers, our colleagues and our supply chain. 
 

Business continuity, operational resilience and major incident response*

 
 Risk 
  A major incident or catastrophic event could affect the business 
  or its individual brands' ability to trade. Sainsbury's exposure 
  to operational resilience and major incident risks may be 
  greater because of operational complexities and some ageing 
  systems. 
 
  COVID-19 continued to impact the business throughout the year. 
  For example, increased costs of global supply chains, the 
  availability of colleagues both within Sainsbury's and our 
  suppliers and differing responses across the devolved nations. 
  These disruptions are actively managed either through day-to-day 
  ways of working or if needed, through the Incident Response 
  Team. 
 Direct oversight 
  Group Operational Resilience Committee 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
 Mitigations 
  - The Group Operational Resilience Committee (GORC) meets 
  quarterly, chaired by the CFO, with support from the Company 
  Secretary and Chief Information Officer. The GORC sets the 
  operational resilience strategy for the business and monitors 
  progress against this 
  - The Operational Resilience Committee, which includes representatives 
  from functions across Sainsbury's, including the Bank, meets 
  regularly to implement the operational resilience policy and 
  strategy 
  - Business-wide resilience exercises are undertaken to imitate 
  real life business continuity scenarios and test our ability 
  to respond effectively. This includes testing our emergency 
  call cascade. Actions in response to lessons learnt are agreed 
  - Key business processes are assessed for operational resilience 
  against a set of minimum standards and contingency measures 
  regularly tested. Remote working solutions have reduced the 
  risk of loss of a key site 
 
  Crisis management 
  - In the event of any unplanned or unforeseen events, the 
  Incident Response Team (IRT) is convened to manage the response 
  and any associated risk to the business 
  - The IRT Chair reports to the Operating Board, which provides 
  strategic direction and decision making across financial, 
  operational and regulatory matters, considering all stakeholders 
  - The IRT was convened at various times through the year including 
  to respond to the high demand for fuel, the impact of the 
  Omicron variant on business operations, Storm Eunice and to 
  co-ordinate contingency measures with supplier challenges 
 

Business strategy and change*

RISK DEEP DIVE

 
 Risk 
  The strategy requires significant, concurrent change activities 
  to be delivered in the right sequence and at pace to drive 
  business value. Key risks associated with this include an 
  inability to prioritise resources to deliver competing change 
  activities and/or not having the right skills, capabilities 
  and culture in place to deliver and embed the required changes/within 
  required timescales. 
 Direct oversight 
  Business Performance Review, Operating Board 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  All metrics, associated with our objective of delivering for 
  customers and driving stronger financial results 
 Movement 
  No change 
     Mitigations 
      - Our business strategy, as set out in this Strategic Report, 
      is focussed on the following priorities: 
      - Food First 
      - Brands that Deliver 
      - Save to Invest 
      - Connected to Customers 
      - Plan for Better 
      - We have created the new role of Chief Transformation Officer 
      to drive end to end transformation. This will mean we can 
      bring together all of the key elements of transformation across 
      the business and ensure that we deliver on our Save to Invest 
      priority, making the business simpler and more efficient, 
      while reducing costs to support our plans to Win in Food and 
      create Brands that Deliver 
      - The Operating Board has regular sessions to discuss strategy, 
      supported by a dedicated Strategy team. The Operating Board 
      engages with a wide range of stakeholders - including shareholders, 
      colleagues, customers and suppliers - to ensure our strategy 
      remains relevant. Reflecting this, one of our strategic priorities, 
      Net Zero 2040, was broadened this year to set out our sustainability 
      goals across three critical areas. See page 13 for more detail 
      on Plan for Better. 
      - To ensure focus is maintained on delivering the strategic 
      priorities of the business, new transformational change projects 
      are approved by the Business Performance Review (BPR) forum, 
      once they have been through robust challenge on expected costs 
      and benefits, proposed timeframes for achieving the benefits 
      and risks associated with their delivery. The BPR also monitors 
      and reviews the "in year" implementation of the plans to meet 
      budget targets 
      - This year, to further develop the culture required to deliver 
      our strategy, we launched our Valued Behaviours - Own It, 
      Make It Better and Be Human. These Valued Behaviours were 
      communicated widely across our business and they have been 
      embedded in all our development materials, performance management 
      and recruitment processes 
 

Customer*

 
 Risk 
  Our business includes Sainsbury's, Argos, Habitat, Tu clothing, 
  Nectar and Sainsbury's Bank. The business, across all brands, 
  must continue to evolve to meet customer needs and maintain 
  customer loyalty. 
 
  A failure to align with, and respond to changes in customer 
  sentiment, behaviours, expectations and circumstances, exacerbated 
  by changes in customer behaviours as the COVID-19 pandemic 
  continues to evolve, will impact our ability to retain existing 
  and attract new customers. 
 Direct oversight 
  Operating Board and Sainsbury's Bank Management Board; Customer, 
  Commercial and Channels Forum 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Connected to Customers 
 Link to key performance indicators 
  Customer satisfaction 
 Movement 
  No change 
 Mitigations 
  - The Customer, Commercial and Channels Forum, chaired by 
  the Chief Marketing Officer, is responsible for ensuring the 
  customer is at the heart of our decision making 
  - Customer trends, attitudes and behaviours are continually 
  monitored over time through their response to our propositions 
  and feedback, as well as reviewing future customer and macro 
  trends on a quarterly basis, to help set our future direction 
  - We continue to invest in digitising the Nectar Loyalty scheme 
  which provides us with a rich source of customer data and 
  insight that is reviewed and embedded right across our business 
  - We continued to focus on value, quality, and convenience, 
  reflecting both what our existing customers want and what 
  will attract new customers 
  - In terms of value and quality, we delivered the Sainsbury's 
  Quality, Aldi Price Match campaign throughout the year, refreshing 
  it regularly to respond to customer feedback, launched 1,950 
  new products and introduced Nectar Prices, providing personalised 
  pricing for customers 
  - In terms of convenience, we continue to monitor and flex 
  our ways of working to meet customer demand for how they want 
  to shop, particularly as the COVID-19 pandemic continues to 
  evolve. As well as our traditional channels, we have invested 
  in our contactless channels such as SmartShop, Click & Collect 
  and Groceries Online. In particular, SmartShop Mobile Pay 
  has now also been rolled out to nearly all convenience stores 
  - We continue to innovate and trialled our first SmartShop 
  Pick & Go store during the year to gain customer feedback 
 

Data security*

RISK DEEP DIVE

 
 Risk 
  It is essential that the security of customer, colleague and 
  company confidential data be maintained. A major breach of 
  information security could have a significant negative financial 
  and reputational impact on the business. The risk landscape 
  is increasingly challenging with deliberate acts of cybercrime 
  on the rise, targeting all markets and heightening the risk 
  exposure to broader business disruption as well as to data 
  breaches. 
 Direct oversight 
  Data Governance Committee 
      Link to strategy 
        *    Connected to Customers 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
 Mitigations 
  - A Data Governance Committee (DGC) is in place to oversee 
  the management of colleague, customer and commercial data, 
  information security and associated awareness and training. 
  Metrics to measure alignment to risk appetite are discussed 
  in each meeting of the DGC 
  - The Data Governance and Information Security function, with 
  the support of colleagues in the Technology division, continue 
  to develop information security strategies and to build the 
  necessary capability to respond to the increasing number and 
  sophistication of attacks, alongside focusing on improving 
  how we handle data and protect systems across the organisation 
  - A suite of information security policies are in place, which 
  focus on encryption, network security, access controls, system 
  security, data protection and information handling 
  - All colleagues are required to complete mandatory training 
  on how to keep our information safe. This is supplemented 
  by regular colleague awareness campaigns, focusing on specific 
  aspects of data and information security, for example e-mail 
  phishing exercises, with results reported to the DGC 
  - Reviews of key third parties who hold sensitive customer 
  or colleague data continue to take place and progress is monitored 
  by the DGC 
  - A risk based security testing approach across IT infrastructure 
  and systems is in place to identify and address vulnerabilities 
  and allow us to adapt and improve our defences 
 

Financial and treasury*

RISK DEEP DIVE

 
 Risk 
  The main financial risk relates to availability of short and 
  long-term funding to meet business needs and fluctuations 
  in interest, commodity and foreign currency rates. 
 Direct oversight 
  The Board of J Sainsbury plc 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  Retail free cashflow: GBP500m+ pa average 
 Movement 
  No change 
 Mitigations 
  - Treasury policies, approved by the plc Board, are in place 
  to address liquidity, refinancing, financial markets and counterparty 
  credit risks. In addition, the business funding strategy is 
  approved annually by the plc Board 
  - The Treasury function is responsible for managing liquid 
  resources, funding requirements, commodity, interest rate 
  and currency exposures as set out in line with the Treasury 
  policy and overseen by the Treasury Committee 
  - The Audit Committee reviews and approves the viability and 
  going concern statements on an annual and half-yearly basis 
  respectively 
  - The Treasury function has clear operating procedures and 
  adherence to these is regularly reviewed and audited 
  - A long-term funding plan is developed as part of the annual 
  corporate plan process, which includes an assessment of short 
  and long-term core funding requirements and contingent funding 
  requirements 
  - A short-term funding plan is formalised as part of the annual 
  budget process, which includes an assessment of the core and 
  contingent funding requirements for the following year and 
  the market conditions for each of the debt markets accessible 
  to the business 
  - There is a long-term funding framework in place for the 
  pension deficit and there is ongoing communication and engagement 
  with the Pension Trustees 
  - Detailed cashflow forecasts are produced by the Finance 
  and Treasury functions. Finance commercial reviews are also 
  held each period, chaired by the CFO, with relevant actions 
  and mitigations agreed 
  - Financial and Treasury risks in respect of Sainsbury's Bank 
  are detailed separately 
 

Health and safety*

RISK DEEP DIVE

 
 Risk 
  Prevention of injury or loss of life for both colleagues and 
  customers is of utmost importance and is paramount to maintaining 
  the confidence our customers have in our business. 
 
  In the last year, the impact of COVID-19 has continued to 
  affect the health and safety of our customers and colleagues. 
  This was and continues to be actively managed, although many 
  of our mitigations are now part of day-to-day ways of working. 
 Direct oversight 
  Group Safety Committee 
      Link to strategy 
        *    Connected to Customers 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
 Mitigations 
  - The Group Safety Committee (GSC) met four times during the 
  year, receiving detailed reports on a wide range of topics 
  including COVID management and control, growth of online operations, 
  building fabric review and safety training. The GSC were also 
  supported by additional working groups to manage the ever-changing 
  risks associated with COVID-19 
  - In particular, the Customer Journey Team ensured COVID-19 
  mitigations throughout Sainsbury's were proportionate and 
  aligned with legislation 
  - The Operating Board receives quarterly reports on safety, 
  including an annual deep dive facilitated by the Head of Group 
  Safety, who also provided an annual safety update to the plc 
  Board 
  - Clear policies and procedures are in place detailing the 
  controls required to manage health and safety across the business, 
  aligned to Assured Primary Authority advice, to comply with 
  all applicable regulations. These cover the end-to-end operations, 
  including the auditing and vetting of construction contractors 
  and the health and safety processes in place in our depots, 
  stores, offices and for home working colleagues 
  - Process compliance is supported through oversight from our 
  Primary Authority, internal training programmes and management 
  monitoring, all which align to both health and safety laws 
  and our internal policies. We invested in technology solutions 
  to direct and monitor process completion, with oversight provided 
  by field teams in both Safety and Internal Audit 
  - The new Group Head of Health, Safety and Insurance was appointed 
  in June 2021 and completed a full review of the Safety team 
  and processes. As a result, new measures of success were defined. 
  Key areas include a renewed focus on reducing harm and its 
  associated costs by removing unnecessary complexity and enhancing 
  the use of data to prioritise the team's work 
 

Political and regulatory environment*

 
 Risk 
  There is a trend of increasing regulation, together with enforcement 
  action, across all areas of our business. This increases the 
  risk of non-compliance, adds additional cost as we respond 
  to the regulations and drives complexity into our business 
  processes. 
 Direct oversight 
  Operating Board 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
      Mitigations 
       - We complete a bi-annual risk assessment to review key regulatory 
       risks, which functions are impacted and at a high level, how 
       they are managed 
       - Accountability and responsibilities for key regulatory risks 
       are confirmed as part of this. Our key regulatory risks include 
       Competition Law, GDPR, GSCOP and Anti-Bribery and Corruption. 
       A high-level of assessment of the key elements of a compliance 
       framework for each of these key risks is completed and the 
       results are shared with the Operating Board 
       - Mandatory training is in place for the key regulatory areas, 
       including data governance, anti-bribery and corruption, competition 
       law and GSCOP 
       - In terms of emerging regulatory risk, we liaise with external 
       parties and our internal stakeholders to monitor changes to 
       existing regulations that would impact the business, so that 
       we can respond appropriately. Areas of focus remain the same 
       as the previous year and include: 
        *    the impact of complying with the post-Brexit 
             regulatory and enforcement regime, including what it 
             means to be trading under both UK and EU regulations 
             in Ireland and the implications of any changes to the 
             NI Protocol 
 
 
        *    responding to proposed new rules associated with high 
             fat, sugar and salt products, plastic, packaging and 
             food waste 
 
 
        *    anticipating and responding to emerging areas of 
             regulatory focus on environment and climate change, 
             and associated reporting requirements 
 
 
       - As a responsible business, we proactively engage with Government, 
       devolved administrations, regulators and industry bodies in 
       the areas in which we operate, on public policy issues impacting 
       our customers and colleagues. Our engagement is transparent, 
       and we allow our responses to government consultations to 
       be made public 
 

Product safety and sourcing *

 
 Risk 
  Failure to manage safety and sourcing risks for both food 
  and non-food products leads to injury or loss of life, breach 
  of regulation and/or reputational damage. 
 Direct oversight 
  Group Safety Committee 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
 Mitigations 
  - Clear policies and procedures are in place detailing the 
  controls required to manage product safety, product fraud 
  and ethical risks across the business and to comply with all 
  applicable regulations 
  - These cover the end-to-end operations, including safety 
  processes in place in our depots and stores and the quality 
  management controls in place to ensure product safety and 
  integrity 
  - During the year, Food Safety policies were refreshed and 
  simplified to ensure they were clear to colleagues and suppliers 
  - In addition, established supplier audit and product testing 
  programmes are in place to support rigorous monitoring of 
  supplier sites, product safety, traceability, integrity and 
  ethical issues, including modern slavery. Where on-site visits 
  are not allowed due to COVID-19 restrictions, remote audit 
  and assurance programmes are in place 
  - Product recall escalation procedures are in place to quickly 
  resolve issues for food and non-food product incidents 
  - Supplier terms, conditions and product specifications set 
  clear standards for product/raw material safety and quality 
  with which suppliers are expected to comply 
  - The Group Safety Committee receive regular reports on product 
  safety from the Director of Technical, Food, Head of Technical 
  & Ethical, GM&C and from the Group Head of Health, Safety 
  and Insurance on operational food safety risks. In addition, 
  the Corporate Responsibility & Sustainability Committee discussed 
  matters related to product sourcing risk, including supply 
  chain transparency, modern slavery and human trafficking 
 

Sainsbury's Bank*

 
 Risk 
  Sainsbury's Bank is exposed to a number of risks, including 
  those related to operational, regulatory, credit, capital, 
  funding, liquidity and market risks. 
 
  The COVID-19 pandemic means uncertainty around the economic 
  outlook will continue, particularly with regard to how the 
  path of inflation, interest rates and levels of unemployment 
  will evolve. This is actively managed through our normal economic 
  scenario modelling analyses and corresponding playbooks. 
 Direct oversight 
  The Boards of J Sainsbury plc and Sainsbury's Bank plc 
      Link to strategy 
        *    Brands that Deliver 
 Link to key performance indicators 
  N/A 
 Movement 
  No change 
      Mitigations 
       - The Bank is managed through defined governance structures 
       that include the Board of Sainsbury's Bank plc, its Risk Committee 
       and Audit Committee. The Board of Sainsbury's Bank plc is 
       comprised of Executive Directors, independent Non-Executive 
       Directors and a J Sainsbury plc Executive Director 
       - The Bank has a defined risk appetite aligned to delivery 
       of strategic objectives and has implemented a risk management 
       framework that is overseen by its Risk Committee. This Committee 
       monitors the effectiveness of risk management activities against 
       strategic, operational, compliance and financial risks, and 
       is updated on, and discusses, emerging risk areas. In particular, 
       the Risk Committee reviews the results of stress testing including 
       the internal Liquidity and Capital Adequacy Assessments 
       - The actual management of risks is through an executive governance 
       structure, which manages the day-to-day operations of the 
       business. This includes the Sainsbury's Bank Management Board, 
       an Executive Risk Committee and an Asset and Liability Committee 
       - Oversight by J Sainsbury plc is provided through: 
        *    Membership of the Board of Sainsbury's Bank plc - one 
             J Sainsbury plc Operating Board member is on the 
             Board of Sainsbury's Bank plc and provides updates to 
             the Board of J Sainsbury plc on Bank matters 
 
 
        *    Updates on key matters arising from meetings of the 
             Risk Committee and Audit Committee are reported to 
             the J Sainsbury plc Audit Committee 
 
 
        *    There are a number of reserved matters that require 
             Sainsbury's Bank plc to obtain permission from J 
             Sainsbury plc 
 

Trading environment and competitive landscape*

 
 Risk 
  We operate in a highly competitive market during a time of 
  economic uncertainty, primarily driven by the COVID-19 pandemic. 
  Whilst the UK has now left the European Union, uncertainties 
  around the final trading relationship with Northern Ireland 
  and UK border checks create additional complexities for our 
  business and our suppliers. 
 
  With the outlook set to remain broadly the same for the immediate 
  future, we need to respond appropriately to external market 
  conditions while maintaining clear focus on delivering our 
  strategic objectives. 
 
  We also need to be mindful of the ongoing risk of supplier 
  failure, either through insolvency or through an inability 
  to deliver products due to global supply chain challenges. 
 Direct oversight 
  Customer, Commercial and Channels Forum; Operating Board 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 Link to key performance indicators 
  Grocery market share performance 
 Movement 
  No change 
 Mitigations 
  - We have a wide, differentiated portfolio of brands, including 
  Sainsbury's, Argos, Habitat, Tu clothing, Nectar and Sainsbury's 
  Bank, which provides some inherent resilience to unforeseen 
  changes 
  - We continually monitor current market trends and price points 
  across competitors, and respond through actively managing 
  price positions, developing sales propositions and adjusting 
  promotional and marketing activity 
  - We put the customer at the heart of our decision making 
  to ensure we retain existing and attract new customers - see 
  the "Customer" principal risk for further details 
  - We are in regular contact with the government and other 
  external bodies to understand decision making in relation 
  to Northern Ireland so we, and our suppliers, can adapt our 
  ways of working as needed 
  - In terms of supplier continuity specifically, we maintain 
  regular, open dialogue with key suppliers concerning their 
  ability to trade and collaborate with them on solutions where 
  appropriate. This year, we subsumed the operations of one 
  key supplier into our business, to ensure continuity of supply 
  - Reflecting the impact of COVID-19 on global supply chains, 
  we have continued to work collaboratively with all our suppliers 
  this year to maintain availability of products for the customer. 
  Actions taken include onboarding alternate suppliers, rationalising 
  products and providing logistics support 
 

Colleague engagement, retention and capability

 
 Risk 
  The business employs over 171,000 colleagues who are critical 
  to the success of our business. Attracting talented colleagues, 
  investing in training and development and rewarding colleagues 
  fairly are all essential to the sustainability of our operations. 
  An inability to attract, motivate and retain talent, specific 
  skillsets and capability impacts our ability to deliver our 
  strategic objectives. The availability of skills in specific 
  areas is a key area of focus. 
 
  COVID-19 continues to affect our store, depot and office-based 
  colleagues. Many of our mitigations are now part of day-to-day 
  ways of working. 
 
  The challenging trading environment requires a focus on efficient 
  operations, which may include change initiatives that affect 
  colleagues, impacting trust or engagement. 
 Direct oversight 
  Operating Board 
      Link to strategy 
        *    Food First 
 
 
        *    Brands that Deliver 
 
 
        *    Save to Invest 
 
 
        *    Connected to Customers 
 
 
        *    Plan for Better 
 Link to key performance indicators 
  Colleague engagement 
 Movement 
  No change 
 Mitigations 
  - Employment policies and remuneration and benefits packages 
  are regularly reviewed and are designed to be fair, consistent 
  and competitive. Our base rate of pay for Sainsbury's and 
  Argos store colleagues is GBP10 an hour nationally, ahead 
  of the Living Wage, and GBP11.05 an hour in London, in line 
  with the London Living Wage. Over the course of the year, 
  we also made exceptional payments for areas with specific 
  skills shortages, 
  for example drivers 
  - We have processes in place to nurture talent and provide 
  fulfilling career opportunities. Formal processes are in place 
  to discuss performance and development, identify talent, actively 
  manage succession planning and enable colleagues to progress 
  into management roles 
  - We have invested in leadership immersion sessions focused 
  on our new valued behaviours, as well as ongoing behavioural 
  and leadership development, to build capability and support 
  a positive working culture 
  - We continue to take action to be an inclusive place to work. 
  We've set stretching gender, ethnically diverse and Black 
  representation targets for 2024, which form part of our leaders' 
  long-term incentives 
  - We continue to listen closely to colleagues to inform and 
  adapt our future plans and actions. Our annual colleague survey 
  was updated this year to ensure we are measuring the things 
  that matter most to our people and that support the culture 
  we seek to have 
  - In September 2021, we went live with our new hybrid ways 
  of working, giving colleagues greater flexibility to come 
  together in our offices, stores and depots for collaboration, 
  coaching or community purposes and work remotely the rest 
  of the time 
  - We design and run specific programmes to target hard to 
  recruit areas, presenting a wide range of opportunities for 
  colleagues from across our business, as well as attracting 
  new talent. We have introduced a new HGV driver apprenticeship 
  as well as an HGV driver academy 
  - We have upweighted our recruitment teams, to support hiring 
  in difficult and competitive markets, and embraced new ways 
  of attracting talent 
 

Environment and social sustainability

RISK DEEP DIVE

 
 Risk 
  Understanding and mitigating the impact of the climate on 
  our business operations, reducing our environmental impact 
  as well as using our size and scale as a business to have 
  a positive impact on society and our communities is a core 
  part of our strategy. 
 
  During the year, the Plan for Better strategic priority was 
  launched, putting our responsibilities towards our planet 
  and people at the core of our business. 
 
  Reflecting this, this risk was broadened from focussing on 
  our Net Zero commitments, to include consideration of environmental 
  and social sustainability risks and the impact of climate 
  change on our business operations; the latter was previously 
  considered within each relevant Principal Risk. As a result, 
  the gross, net and target positions of this risk were reset. 
 Direct oversight 
  Corporate Responsibility and Sustainability Committee, Plan 
  for Better Steering Committee 
      Link to strategy 
        *    Plan for Better 
 Link to key performance indicators 
  Plan for Better commitment 
 Movement 
  New risk 
 Mitigations 
  - The Corporate Responsibility & Sustainability (CR&S) Committee 
  provides oversight of the Plan for Better strategy. The CR&S 
  Committee, Plan for Better Steering Committee and Audit Committee 
  review and approve our external reporting and provide oversight 
  of programme risks 
  - Our Plan for Better strategy, explained on page 13 of this 
  report, was launched this year and sets out our environmental 
  and social sustainability goals across our whole business, 
  outlining our priority areas of focus, our key commitments 
  and our progress against these. We have identified areas which 
  matter most to our stakeholders, have the greatest impact 
  on our business and which are aligned to the UN Sustainable 
  Development Goals, so that we can make the biggest difference 
  - Our Plan for Better strategy has three interlocking pillars: 
  Better for you, Better for the planet and Better for everyone 
  - The Plan for Better Steering Committee (Steering Committee) 
  met six times during the year and provided regular updates 
  to the CR&S Committee and to the Operating Board as required. 
  This Steering Committee oversees delivery of the Plan for 
  Better programme, supported by three working groups responsible 
  for driving and executing the strategy 
  - One of our key metrics to measure and report on Plan for 
  Better performance is our progress towards becoming Net Zero 
  across our own operations by 2035 and supply chain by 2050. 
  We will continue to monitor our progress in achieving our 
  targets, flexing our approach as needed. We also publicly 
  report on progress towards achieving our Net Zero targets, 
  as well as our other targets within Plan for Better twice 
  a year, to ensure transparency 
  - See page 17 for more information on our ongoing implementation 
  of the TCFD recommendations 
 

DISCLOSURES ABOUT THE FAIR VALUE OF FINANCIAL INSTRUMENTS

Financial assets and liabilities by category

Set out below are the accounting classification of each class of financial assets and liabilities as at 5 March 2022 and 6 March 2021.

 
                                                                   Fair 
                                                        Fair      value 
                                                       value    through 
                                        Amortised    through     profit 
                                             cost        OCI    or loss     Total 
                                             GBPm       GBPm       GBPm      GBPm 
-------------------------------------  ----------  ---------  ---------  -------- 
 Cash and cash equivalents                    825          -          -       825 
 Trade and other receivables                  552          -          -       552 
 Amounts due from Financial Services 
  customers and other banks                 5,189          -          -     5.189 
 Financial assets at FVOCI                      -        800          -       800 
 Trade and other payables                 (4,218)          -          -   (4,218) 
 Borrowings                                 (761)          -          -     (761) 
 Amounts due to Financial Services 
  customers and banks                     (5,259)          -          -   (5,259) 
 Derivative financial instruments               -          -        259       259 
 Lease liabilities                        (6,621)          -          -   (6,621) 
-------------------------------------  ----------  ---------  ---------  -------- 
 At 5 March 2022                         (10,293)        800        259   (9,234) 
-------------------------------------  ----------  ---------  ---------  -------- 
 
 
                                                                 Fair value 
                                                    Fair value      through 
                                        Amortised      through       profit 
                                             cost          OCI      or loss     Total 
 Restated                                    GBPm         GBPm         GBPm      GBPm 
-------------------------------------  ----------  -----------  -----------  -------- 
 Cash and cash equivalents                  1,575            -            -     1,575 
 Trade and other receivables                  609            -            -       609 
 Amounts due from Financial Services 
  customers                                 5,407            -            -     5,407 
 Financial assets at FVOCI                      -          844            -       844 
 Trade and other payables                 (4,102)            -            -   (4,102) 
 Borrowings                               (1,104)            -            -   (1,104) 
 Amounts due to Financial Services 
  customers and banks                     (6,289)            -            -   (6,289) 
 Derivative financial instruments               -            -        (124)     (124) 
 Lease liabilities                        (5,834)            -            -   (5,834) 
-------------------------------------  ----------  -----------  -----------  -------- 
 At 6 March 2021                          (9,738)          844        (124)   (9,018) 
-------------------------------------  ----------  -----------  -----------  -------- 
 

c) Fair value estimation

Set out below is a comparison of the carrying amount and the fair value of financial instruments that are carried in the financial statements at a value other than fair value. The fair values of financial assets and liabilities are based on prices available from the market on which the instruments are traded. Where market values are not available, the fair values of financial assets and liabilities have been calculated by discounting expected future cash flows at prevailing interest rates. The fair values of short-term deposits, trade receivables, other receivables, overdrafts and payables and lease liabilities are assumed to approximate to their book values.

 
                                                    Carrying     Group 
                                                      amount      fair 
                                                        GBPm     value 
                                                                  GBPm 
 At 5 March 2022 
 Financial assets 
 Amounts due from Financial Services customers(1)      5,189     5,216 
 Financial liabilities 
 Loans due 2031                                        (575)     (717) 
 Tier 2 capital due 2023                               (179)     (180) 
 Amounts due to Financial Services customers and 
  other banks                                        (5,259)   (5,260) 
--------------------------------------------------  --------  -------- 
 
 
                                                    Carrying     Group 
                                                      amount      fair 
                                                        GBPm     value 
                                                                  GBPm 
------------------------------------------------------------  -------- 
 At 6 March 2021 
 Financial assets 
 Amounts due from Financial Services customers(1)      5,407     5,418 
 Financial liabilities 
 Loans due 2031                                        (627)     (761) 
 Bank loans due 2021                                   (199)     (199) 
 Tier 2 capital due 2023                               (179)     (183) 
 Amounts due to Financial Services customers and 
  other banks                                        (6,289)   (6,298) 
--------------------------------------------------  --------  -------- 
 

1 Included within a portfolio fair value hedging relationship with GBP3,235 million (2021: GBP3,984 million) of interest rate swaps.

The fair value of the financial assets has been calculated by discounting cash flows at prevailing interest rates and is within Level 2 of the fair value hierarchy (see below for fair value hierarchy description). The fair value of financial liabilities have been calculated by discounting cash flows at prevailing interest rates and are within Level 2 of the fair value hierarchy.

Fair value measurements recognised in the balance sheet

The following table provides an analysis of financial instruments that are recognised at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable:

- Level 1 fair value measurements are derived from quoted market prices (unadjusted) in active markets for identical assets or liabilities at the balance sheet date. This level includes listed equity securities and debt instrument on public exchanges;

- Level 2 fair value measurements are derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments is determined by discounting expected cash flows at prevailing interest rates; and

- Level 3 fair value measurements are derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

 
                                           Level    Level   Level   Total 
                                               1        2       3    GBPm 
                                            GBPm     GBPm    GBPm 
---------------------------------------  -------  -------  ------  ------ 
 At 5 March 2022 
 Financial instruments at fair value through other comprehensive 
  income 
 Other financial assets                        -       15     367     382 
 Investment securities                       418        -       -     418 
 Derivative financial assets                   -      111     180     291 
 Derivative financial liabilities              -     (32)       -    (32) 
---------------------------------------  -------  -------  ------  ------ 
 At 6 March 2021 
 Financial instruments at fair value through other comprehensive 
  income 
 Interest bearing financial assets             -        1       -       1 
 Other financial assets                        -       15     291     306 
 Investment securities                       537        -       -     537 
 Derivative financial assets                   -        7       6      13 
 Derivative financial liabilities              -    (137)       -   (137) 
---------------------------------------  -------  -------  ------  ------ 
 

Reconciliation of Level 3 fair value measurements of financial assets and liabilities:

 
                                       Financial 
                                     instruments      Commodity 
                                       at FVTOCI    derivatives    Total 
                                            GBPm           GBPm     GBPm 
------------------------------------------------  -------------  ------- 
 At 7 March 2021                             291              6      297 
 In cost of sales in the Group income 
  statement                                    -             76       76 
 In other comprehensive income                76             98      174 
--------------------------------------  --------  -------------  ------- 
 At 5 March 2022                             367            180      547 
--------------------------------------  --------  -------------  ------- 
 
 
 
                                      Financial 
                                    instruments      Commodity 
                                      at FVTOCI    derivatives    Total 
                                           GBPm           GBPm     GBPm 
-----------------------------------------------  -------------  ------- 
 At 8 March 2020                            237            (3)      234 
 In finance cost in the Group income 
  statement                                   -              9        9 
 In other comprehensive income               54              -       54 
-------------------------------------  --------  -------------  ------- 
 At 6 March 2021                            291              6      297 
-------------------------------------  --------  -------------  ------- 
 
 

The financial instruments at fair value through OCI relate to the Group's beneficial interest in a property investment pool. The net present value of the Group's interest in the various freehold reversions owned by the property investment pool has been derived by assuming a property growth rate of zero per cent per annum (2021: zero per cent) and a discount rate of seven per cent (2021: seven per cent) - see note 18. The sensitivity of this balance to changes of one per cent in the assumed rate of property rental growth and one per cent in the discount rate holding other assumptions constant is shown below:

 
                                                                          2021 Change 
                    2022 Change in     2022 Change                        in discount 
                       growth rate     in discount         2021 Change           rate 
                           +/-1.0%    rate +/-1.0%           in growth        +/-1.0% 
                              GBPm            GBPm    rate +/-1.0%GBPm           GBPm 
----------------------------------  --------------  ------------------  ------------- 
 Financial instruments 
  at fair value through 
  OCI                        6/(6)           (5)/5               9/(9)          (6)/6 
------------------------  --------  --------------  ------------------  ------------- 
 
 

The Group has entered into several long-term fixed price Power Purchase agreements with independent producers. Included within derivative financial assets is GBP180 million (2021: GBP6 million) relating to these agreements. The Group has entered into a new Power Purchase Agreement during the year, and this has been designated as a cash flow hedge.

The Group values its Power Purchase agreements as the net present value of the estimated future usage at the contracted fixed price less the market implied forward energy price discounted at the prevailing swap rate. The Group also makes an assumption regarding expected energy output based on the historical performance and the producer's estimate of expected electricity output. The sensitivity of this balance to changes of 20 per cent in the assumed rate of energy output and 20 per cent in the implied forward energy prices holding other assumptions constant is shown below:

 
 Not in a hedge relationship                           2022 Change         2021       2021 Change 
                                     2022 Change    in electricity       Change    in electricity 
                                       in volume           forward    in volume           forward 
                                        +/-20.0%    price +/-20.0%     +/-20.0%    price +/-20.0% 
                                            GBPm              GBPm         GBPm              GBPm 
----------------------------------  ------------  ----------------  -----------  ---------------- 
 Derivative financial instruments        23/(23)           16/(16)        1/(1)             7/(7) 
----------------------------------  ------------  ----------------  -----------  ---------------- 
 
 
 Designated in a cash                                  2022 Change                     2021 Change 
  flow hedge relationship            2022 Change    in electricity   2021 Change    in electricity 
                                       in volume           forward     in volume           forward 
                                        +/-20.0%    price +/-20.0%      +/-20.0%    price +/-20.0% 
                                            GBPm              GBPm          GBPm              GBPm 
----------------------------------  ------------  ----------------  ------------  ---------------- 
 Derivative financial instruments        32/(32)           20/(20)           N/A               N/A 
----------------------------------  ------------  ----------------  ------------  ---------------- 
 

Related party transactions

a) Key management personnel

The key management personnel of the Group comprise members of the J Sainsbury plc Board of Directors and the Operating Board. The key management personnel compensation is as follows:

 
                                      2022    2021 
                                       GBPm    GBPm 
-----------------------------------  ------  ------ 
 Short-term employee benefits          12       9 
 Post-employment employee benefits      1       1 
 Share-based payments                   6       5 
-----------------------------------  ------  ------ 
                                       19      15 
-----------------------------------  ------  ------ 
 

Three key management personnel had credit card balances with Financial Services (2021: five). These arose in the normal course of business and were immaterial to the Group and the individuals. One key management personnel held saving deposit accounts with Financial Services (2021: three). These balances arose in the normal course of business and were immaterial to the Group and the individuals.

b) Joint ventures and associates

Transactions with joint ventures and associates

For the 52 weeks to 5 March 2022, the Group entered into various transactions with joint ventures and associates as set out below. All transactions with joint ventures and associates are at arm's-length.

 
                                         2022    2021 
                                          GBPm    GBPm 
--------------------------------------  ------  ------ 
 Dividends and distributions received      2       4 
 Rental expenses paid                     (8)     (6) 
--------------------------------------  ------  ------ 
 

Year-end balances arising from transactions with joint ventures and associates

 
                   2022    2021 
                    GBPm    GBPm 
----------------  ------  ------ 
 Other payables     (1)     (2) 
----------------  ------  ------ 
 

c) Retirement benefit obligations

As discussed in note 37, the Group has entered into an arrangement with the Pension Scheme Trustee as part of the funding plan for the actuarial deficit in the Scheme. Full details of this arrangement are set out in note 37 to these financial statements.

S tatement of Directors' responsibilities

The Directors are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Group and the Company as at the end of the financial year, and of the profit or loss of the Group for the financial year. Under that law, the Directors have prepared the Group financial statements in accordance with UK-adopted international accounting standards. The Directors have elected to prepare the Parent Company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS 101 'Reduced Disclosure Framework' (UK Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of the profit or loss of the Group for that period. In preparing these financial statements, the Directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether UK-adopted international accounting standards have been followed, subject to any material departures disclosed and explained in the Group and Company financial statements respectively; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group and the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group's and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and enable them to ensure that the financial statements and the Directors' Remuneration Report comply with the Companies Act 2006 and, as regards the Group financial statements, Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Having taken all the matters considered by the Board and brought to the attention of the Board during the year into account, we are satisfied that the Annual Report and Financial Statements, taken as a whole, is fair, balanced and understandable.

The Board believes that the disclosures set out in this Annual Report provide the information necessary for shareholders to assess the Group's performance, business model and strategy.

The Directors are responsible for the maintenance and integrity of the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Each of the Directors, whose names and functions are listed on pages 54 to 57, confirms that, to the best of their knowledge:

- the financial statements, which have been prepared in accordance with the relevant financial reporting framework give a true and fair view of the assets, liabilities, financial position and profit of the Group and Company; and

- the Strategic Report and Directors' Report contained in the Annual Report and Financial Statements include a fair review of the development and performance of the business and the position of the Group, together with a description of the emerging and principal risks and uncertainties that it faces; and

- the Annual Report and Financial Statements, taken as a whole, are fair, balanced and understandable and provide the information necessary for shareholders to assess the Group's position and performance, business model and strategy.

By order of the Board

Tim Fallowfield OBE

Company Secretary and Corporate Services Director

27 April 2022

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSBKABKBBKDNAK

(END) Dow Jones Newswires

June 06, 2022 08:15 ET (12:15 GMT)

Sainsbury (j) (LSE:SBRY)
Gráfica de Acción Histórica
De Jul 2022 a Ago 2022 Haga Click aquí para más Gráficas Sainsbury (j).
Sainsbury (j) (LSE:SBRY)
Gráfica de Acción Histórica
De Ago 2021 a Ago 2022 Haga Click aquí para más Gráficas Sainsbury (j).