8% Items excluded from underlying results £95m £31m Profit before tax £372m £339m 9.
7% Basic earnings per share 14.
Promotional participation is down from 37 per cent two years ago to 24 per cent3.
These will form part of the rollout of 200 new digital collection points where customers can collect Tu clothing, eBay and DPD parcels Convenience sales growth of over six per cent.
this business contributes around £2.
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,valentino shoes price in paris ,"We have invested in the quality of our products while reducing prices on everyday items, delivering volume growth and outperforming the market in customer service and availability.
To meet growing demand for home delivery groceries in London, we opened a new online fulfilment centre.
By Christmas we will open 30 Argos digital stores and create a further 30 Argos digital collection points in our supermarkets.
These will form part of a rollout of 200 new digital collection points where customers can collect Tu clothing, eBay and DPD parcels.
We continue to benefit from a strong balance sheet, with net debt reduced by £485 million from March 2016 to £1.
1% Like for Like sales (inc VAT, ex fuel) (Sainsbury's only) (1.
0)% Underlying profit before tax(2) £277m £308m (10.
1)% Underlying basic earnings per share(3) 11.
7)% Return on capital employed (excluding pension fund deficit)(4) 8.
5% (57)bps Statutory Reporting* Group sales (ex VAT, inc fuel) £12,642m £12,419m 1.
The combination of our products, services, customer data and fast delivery networks gives us a strong platform for growth and enables us to deliver clear synergies.
" Outlook The market remains competitive and pricing pressures continue to impact margins.
The full impact of the devaluation of sterling on retail prices is as yet uncertain.
However, we are well placed to navigate the external environment and remain focussed on delivering our strategy.
Financial highlights 28 weeks to 24 September 2016 28 weeks to 26 September 2015 % Total Change Business Performance Underlying Group sales (inc VAT) £13,923m £13,641m 2.
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Refer to Alternative Performance Measures disclosure on page 57 Certain statements made in this announcement are forward looking statements.
A results presentation for analysts and investors will be held at 09:30 on 9 November 2016.
To view the slides of the results presentation and the webcast: We recommend that you register for this event in advance.
uk and follow the on screen instructions.
To participate in the live event, please go to the website from 09:00 on the day of the announcement, where there will be further instructions.
Valentino Rockstud Ankle-Wrap Noir Leather Flat Sandals 3 billion(1) Interim dividend of 3.
We have made good progress delivering this in challenging market conditions.
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,3 billion and we are committed to paying an affordable dividend, fixed at 2.
0 times cover for the full year.
Consistent with our policy to pay an interim dividend of 30 per cent of the previous full year dividend, our interim dividend will be 3.
" Mike Coupe added: "The acquisition of HRG accelerates our strategy to give customers choice, convenience, speed and flexibility in when, where and how they shop.
Food will always be at our heart and we are strengthening our Clothing, General Merchandise and Financial Services offers to realise the potential of the Group.
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