Sainsbury’s has reported a rise in quarterly grocery sales of 11% as the supermarket shifts its focus to “battling inflation”.
Sainsbury's has experienced a significant increase in quarterly grocery sales, with a focus on combating inflation. The supermarket, one of the Big 4 UK grocers, saw its revenues soar by 9.2% in the 16-week period leading up to 24th June.
Like-for-like sales, excluding fuel, also rose by 9.8% during this time. Sainsbury's attributed this growth to a return in volume sales as customers continued to visit their stores. In an effort to provide the best prices to its customers, the supermarket has invested over £60 million since March, resulting in price cuts on over 120 essential household items including bread, milk, pasta, chicken, and toilet roll.
Additional price drops were recently implemented, specifically in their own-brand milk range.
Sainsbury's CEO, Simon Roberts, emphasised the company's dedication to battling inflation and ensuring customers receive the best deals.
He mentioned that prices on their top 100 selling products are now lower than they were in March, despite the overall market increase in prices. Roberts also revealed that customers have saved over £90 million since the launch of their Nectar Prices program in April, with more than one million new customers joining the digital loyalty scheme. Sainsbury's has also prioritized value by rebranding their Stamford Street entry price range in May, and by launching their Aldi Price Match campaign. With this strong momentum in grocery sales, Sainsbury's anticipates delivering an underlying profit before tax between £640 million and £700 million.
This article first appeared in Grocery Gazette.
