Sainsbury’s: sales continue to fall amid challenging times
8 June 2016
Amid the Kantar Worldpanel results for the ferociously competitive UK grocery market, the tough times are continuing for Sainsbury’s which has recorded a further drop in sales.
In the 12 weeks to 4th June, sales at Sainsbury’s stores (excluding newer outlets) like-for-like sales fell by 0.8%. While this is actually better than expected following a forecasted fall of 1.4%, it represents another step back from the companys fractional increase of 0.1% in the last financial year.
It wasn’t all bad news for Sainsbury’s, however. Connor Campbell, senior analyst at spreadex.com, described the company as having “bounced back.
“Rising over 2.5% Sainsbury’s saw like-for-like sales fall 0.8% for the 12 weeks to June,” said Campbell, “better than the 1.2% slide seen in the 12 weeks to May 22nd, alongside a 0.3% jump in total group sales.”