Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news

MetiNews.Com - Sainsbury’s has posted an 8.2% surge in sales for the 16 weeks to June 27 as lockdown saw panicked Brits stockpile and also divert restaurant spending towards the supermarkets. In Simon Roberts' first update as the supermarket group's new boss, the grocer said that like-for-like sales would have been up 19% if the 600 stores which were temporarily closed during lockdown were

Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news

MetiNews.Com - Sainsbury’s has posted an 8.2% surge in sales for the 16 weeks to June 27 as lockdown saw panicked Brits stockpile and also divert restaurant spending towards the supermarkets. In Simon Roberts' first update as the supermarket group's new boss, the grocer said that like-for-like sales would have been up 19% if the 600 stores which were temporarily closed during lockdown were

Uk news  Sainsbury's see sales surge as lockdown boosts supermarkets London news
01 July 2020 - 06:08

Breaking News ! Sainsbury’s has posted an 8.2% surge in sales for the 16 weeks to June 27 as lockdown saw panicked Brits stockpile and also divert restaurant spending towards the supermarkets. In Simon Roberts' first update as the supermarket group's new boss, the grocer said that like-for-like sales would have been up 19% if the 600 stores which were temporarily closed during lockdown were excluded. Roberts took over as the FTSE 100 grocer's new chief executive at the start of June, replacing Mike Coupe, who held the position for six years. In April, Sainsbury's reported an 8% jump in sales for the first seven weeks of the quarter, which started on March 8.

. Clothing and general merchandise sales have also been under pressure as customers focus their spending on essential groceries. Despite strengthening sales, analysts have also suggested that the increase in costs caused by reacting to the pandemic could weigh on earnings for the year. The retailer has had to spend on hiring staff to replace those absent due to the coronavirus, PPE and increasing logistics to meet the surge in demand for online shopping. The company has not taken up Government support in the form of the furlough schemes or delayed VAT payments, although it has accepted £450 million in business rates relief for the year.

Source = MetiNews.Com

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Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news


Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news


Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news


Uk news Sainsbury's see sales surge as lockdown boosts supermarkets London news

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