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Sainsbury's food sales rise as it battles discount kings

Evening Standard

|

November 02, 2023

SAINSBURY'S today claimed it was grabbing market share from every competitor, including discount kings Aldi and Lidl for the first time, as it put food "back at the heart" of the business

- Simon English

Sainsbury's food sales rise as it battles discount kings

More and more customers watching budgets want to dine at home, says chief executive Simon Roberts.

"Customers are choosing to treat themselves to a night in. They want a Taste the Difference meal in front of Strictly," he said.

In the half-year to September overall sales rose 2.9% to £18.8 billion. But notably, grocery sales are up 10.1% while clothing sales fell 8.4%.

Analysts say that is due to a damp summer that saw Sainsbury's clothing range shunned.

Full-year profit should be between £670 million and £700 million - a boost to previous guidance.

But for the half-year profits fell 27% to £275 million, partly due to a one-off legal settlement in the previous year.

Roberts said: "We've never been more competitive on price and our focus on value, innovation and service is giving more customers more reasons to shop with us.

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