THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
Omnichannel Futures Conference 2020
Online Conversion Summit 2020
Future of Retail Marketing 2020
The HR Summit 2020
AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Sainsbury’s sales boosted by summer heatwave

Sainsbury’s saw its like-for-like sales edge up 0.6% in its first half after its food and general merchandise sales benefited from this year’s hot summer. The… View Article

FOOD & DRINK

Sainsbury’s sales boosted by summer heatwave

Sainsbury’s saw its like-for-like sales edge up 0.6% in its first half after its food and general merchandise sales benefited from this year’s hot summer.

The growth was driven by an investment in lowering prices as the supermarket looks to compete with the likes of Morrisons, Aldi and Lidl. 

In the 28 weeks to 22 September, grocery sales rose by 1.2% and general merchandise sales by 1.5%, although clothing sales fell by 1% due to changes in promotional phasing.

Revenue increased by 3.5% to £16.9 billion while underlying pre-tax climbed by 20.3% to £302 million. However, statutory pre-tax profit was down 40% to £132 million when costs relating to the restructuring of store management teams, the integration of Argos, and the supermarket’s proposed merger with Asda were included. 

Mike Coupe, Sainsbury’s group chief executive, said the company’s market remains very competitive as it works to transform its business to meet the changing needs of shoppers.

He added: “We have delivered a solid first half performance and profit has increased because we have delivered significant Argos synergies ahead of schedule. Sales of food and general merchandise were boosted by the hot summer, but general merchandise margins remain under pressure.”

The Competition and Markets Authority is currently conducting its phase two review of the supermarket’s proposed merger with Asda.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY