NEWS

Sainsbury’s reports first sales fall for nine years

Published on: 18th March 2014

Sainsbury’s has reported its first fall in sales for nine years and says the grocery market is growing at its slowest rate since 2005.

_73644126_73644123

In the 10 weeks to 15 March, like-for-like sales, which strip out trading at new stores, fell 3.1% excluding fuel. It blamed a fall in food prices, the later timing of Easter and unseasonable weather for the decline in sales. In addition, Sainsbury’s sales had been boosted last year by the discovery of horsemeat in competitors’ products.

Prior to the fourth quarter, Sainsbury’s had reported growth in like-for-like sales for 36 consecutive quarters. Chief executive Justin King said that the supermarket chain had maintained its 17% market share, and he was still confident it would outperform its supermarket peers in the year ahead.

The group said sales of its own-brand ranges, were “significantly ahead” of branded products. And it said general merchandise and clothing had also performed well, with menswear sales up 23% year-on-year. However, it said it expected shoppers would still be under pressure for some months to come.

Mr King is due to leave the supermarket chain in July, after 10 years at the helm. Mike Coupe, Sainsbury’s group commercial director, will succeed him as chief executive.

If you would like to receive our daily newsflash email, please enter your email address in the “sign-up” box at the top of the page; you can also follow us on Twitter and Facebook and request a print subscription here.

RECENT ARTICLES

Ricky Zoom marketing

Tomy prepares to roll-out Ricky Zoom marketing campaign

Build Your Own launches eco-friendly Microscope kit

Exclusive: Indie toy retailers welcome back looking forward

Lego Young Explorer

Lego and National Trust partner on Young Explorer competition

Exclusive: Looking ahead with Simba Smoby Toys UK

Panini poised to launch new NFL and NFLPA collection

Flowhaven announces new London office

WWE collectibles

WWE collectibles range proves a sell-out success for PMI

KAP Toys

Exclusive: To KAP it all – KAP Toys MD Nat Southworth talks to Toy World

first half toy sales

NPD Group reveals global first half toy sales