Preliminary Results 2021 / 22
Simon Roberts - Chief Executive Officer
Responding to a year of unprecedented change
Pace of change driving Food First momentum
We are delivering on our priorities
One year into our plan, we're making good progress on our metrics
One year into our plan, we're making good progress on our metrics
We’ve made significant investments in 21/22
We have momentum and are in a strong position to navigate 22/23
Kevin O'Byrne - Chief Financial Officer
Retail sales growth by category
Group performance overview
Group performance overview
Underlying profit before tax
Retail underlying operating margin
Strategic cost reduction plan on track
Items excluded from underlying results
Net debt and Retail free cash flow
Significant Free Cash Flow generation over the last 5 years
Updated capital allocation framework
Simon Roberts - Chief Executive Officer
We are delivering on our priorities
Customer behaviour continues to normalise
Digital participation significantly ahead of pre-pandemic
Supermarket customer satisfaction ahead of competitors
Focus on key customer satisfaction metrics
Value: our strongest relative price position in years
Continuing to inflate behind the market
Food Innovation: highest number of new products in a decade
Food Innovation: Helping Everyone Eat Better
Significant investment to improve our stores
Improvements across our food halls
Food Service transformation underway
Online: market share winner
Online: productivity gains
Convenience recovery and On Demand growth
Nectar: growing digital customer base, advancing personalisation
Nectar360 Profit Growth: strong performance across services
General Merchandise and Clothing: structural profit improvement
Strategic choices on promotions and focus categories
Encouraging Argos trajectory
Clothing: a stronger, more profitable business
Strong Financial Services platform
Cost reductions creating headroom to invest
Key Cost Saving Programmes
Plan for Better: bold commitments to drive positive change
Plan for Better: progress against our priority pillars
Plan for Better: deforestation free supply chains by 2025
Moving at pace to change our business
Delivering for shareholders