Sainsbury’s Says Iran War Risks Hitting Profit as Costs Bite

J Sainsbury Plc said profit could slip again this year with higher costs and shopper uncertainty due to the war in the Middle East, just as Britain’s second-largest grocer tries to keep prices down to win market share.

The retailer forecast underlying operating profit from retail of between £975 million ($1.3 billion) and £1.08 billion, Sainsbury’s said Thursday. It was £1.03 billion in the 12 months ended Feb. 28, slightly lower than the previous year — even as sales rose — and short of analyst estimates.