Sainsbury's half-year profits have fallen, as it tries to support customers through the cost-living-crisis.

The Big 4 supermarket, which also owns Argos, reported underlying pre-tax profit was down by eight per cent to £340 million in the 26 weeks to September 17.

Total revenues were up 4.4 per cent to £16.4 billion over the six months, compared with the same period last year, as reported by Retail Gazette.

Grocery sales increased by 0.2%, which Sainsbury's attributed to the easing of lockdown restrictions, warmer weather and market price inflation.

The retailer is investing £500 million by March 2023 in pricing, to help offset cost inflation for key products and keep prices lower for customers.

Sainsbury's is halfway through a £1.3 billion cost-saving programme, which has included closing standalone Argos shops and in-store restaurants.

It is set to close around 50 Argos stores this year, with around 25 Argos sites set to open within larger Sainsbury's shops. Three Sainsbury's stores in the county - two in Gloucester and one in Cheltenham - already have in-store Argos sites.

Sainsbury's said that, over the last 18 months, it has consistently passed on less price inflation than its competitors.

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