UK retailers face a tax burden equivalent to 72p per £1 of pre-tax profit, with business rates at the centre of industry concerns ahead of the Budget.
Standalone revenue for the first six months of FY27 reached Rs114.54bn, a gain of 21%.
The reported exploratory dialogue took place between November 2025 and February 2026 before Sainsbury's opted to discontinue discussions.
The retailer reported turnover of £13bn for the financial year ended 28th February 2026, compared with £11.7bn previously, an increase of 10.8%.
