SAINSBURY’S REPORTS A SLOWDOWN IN SALES

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SAINSBURY’S REPORTS A SLOWDOWN IN SALES – Trading at the business was hit by wet spring weather

Sainsbury’s has reported a slowdown in sales after the soggy spring weather hit trading at its Argos business. 

The UK’s second-largest supermarket said it had seen strong food sales, but the wet weather hit demand for garden equipment and outdoor furniture at Argos. Cost of living pressures also hit non-food sales, and Sainsbury’s boss Simon Roberts said he expected consumers to remain cautious until interest rates start to fall.

Sainsbury’s said Sales were up 3% in the 16 weeks to 22 June, but this was slower than in the previous quarter. Food sales rise 4.8%, with Nectar offers and Aldi price matching helping to attract shoppers. Sainsbury’s also said its ‘Taste the Difference’ premium own-brand range had seen sales jump by 14%.

However, sales of non-food items were down and Argos saw sales drop 6.2%. Along with the wet weather, the retailer said cost-of-living pressures meant shoppers were still cautious about spending on big-ticket items.

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