THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sainsbury's grows profits and sales

Sainsbury's has reported that underlying profit before tax rose 6.6% to £354 million in its first half. Revenue increased by 6.1% to £11.7 billion.

CITY & CORPORATE

Sainsbury's grows profits and sales

In the 28 weeks to 1 October, total sales, including VAT and excluding fuel, were up 4.3% with like-for-like sales up 1.9%. 

The number of customer transactions increased by 1 million to nearly 22 million per week following the success of the Live Well for Less and Brand Match campaigns. The online business also grew, with an increase in grocery sales of around 20%.

Sainsbury’s opened seven new stores, 15 extensions and 37 convenience stores in the half year. It also expanded its Click and Collect service to 700 stores and said the service now accounts for over 40% of online general merchandise orders.

In addition, Sainsbury's achieved operational cost efficiencies of £50 million and said it is on track to achieve around £100 million cost savings over the year. This is a result of improved productivity, on-going procurement savings and simplification of in-store processes the retailer said. 

Justin King, chief executive, said he is optimistic about the outlook despite the tough trading conditions: "We expect the economic environment to remain challenging for the foreseeable future but we are confident of further good progress in the Christmas period ahead," he said.

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

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing