What profit forecast did Sainsbury’s issue for its retail operations, and how does it compare to the prior year?

Sainsbury’s forecast underlying operating profit from retail of between £975 million ($1.3 billion) and £1.08 billion for the current year, compared to £1.03 billion in the 12 months ended February 28 — a figure that was already slightly lower than the previous year and below analyst estimates.

How has the Middle East conflict — specifically the war involving Iran — affected Sainsbury’s business outlook?

The conflict has driven higher costs and consumer uncertainty, contributing to a projected dip in profit; it has upended global shipping and energy markets, fueled UK inflation, increased energy bills and import costs — especially for oil-linked products — and compounded pressure on stretched household budgets, all while retailers face additional headwinds from the government’s revenue-raising budget measures.

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