It was reported by the BBC that Sainsbury’s failed merger with Asda cost the supermarket retailer £46m.
The Competition and Markets Authority blocked the merger between the two supermarket giants due to fears that it would cause an increase in prices for consumers.
Sainsbury’s has said that sales growth has ‘slowed’ during the fourth quarter, especially over the Christmas period.
It also said that it would speed up investment into its store estate and technology.
Fourth quarter sales dropped 0.9%, after dropping 1.1% over Christmas.
In the year ending 9th March, profit before tax fell from £409m the previous year, to £239m.
