Latest news with #SimonRoberts
Yahoo
16 hours ago
- Business
- Yahoo
Sainsbury's like-for-like sales grew 4.7% in Q1 FY25/26
British supermarket chain Sainsbury's has reported a 4.7% increase in like-for-like sales, excluding fuel, for the first quarter (Q1) of the fiscal year 2025/26 (FY25/26). Grocery sales rose 5%, total retail (excluding fuel) by 4.9% and general merchandise and clothing 4.2%. Argos saw a 4.4% increase in sales, ahead of a subdued and intensely competitive general merchandise market facing deflationary pressures, aided by favourable warm and dry weather conditions. Sainsbury's has delivered wjat it describes as the 'highest market share since 2016,' gaining share for the third consecutive year. J Sainsbury chief executive Simon Roberts stated: 'We know how important it is that we provide consistently great value and we have built further on our strong competitive position, improving our prices against all key competitors year-on-year. 'We're now offering even more opportunities for customers to save on the items they buy most often through the biggest Aldi Price Match commitment in the market, covering around 800 everyday essentials. As a result, our value for money customer satisfaction scores are the highest they have ever been.' The company continues to expect to deliver a retail underlying operating profit of £1bn ($1.3bn) and retail free cash flow of more than £500m in FY25/26. The profit delivery will be supported by growth in Nectar profit contribution and cost-saving delivery, with a greater weight towards the second half of the year compared to the previous year. Sainsbury's stated: "Our value proposition is stronger than ever and we've improved our price position against all key competitors year-on-year. Value for money customer satisfaction scores are the highest they have ever been". Sainsbury's has also seen an 18% increase in sales of its Taste the Difference range and launched 450 new products in the first quarter, with more than 250 of these in Taste the Difference. Roberts added: 'We have great momentum, growing faster than the market for three consecutive years and we are well set to deliver another strong performance over the summer. Boosted by a sunny spring, we're already off to a great start with Taste the Difference fresh food sales up 20% as customers enjoy our delicious new deli and picnic ranges, which are perfect for sharing with friends and family.' Convenience sales grew 6%, with high customer satisfaction scores reflecting a positive response to the Aldi Price Match commitment. Groceries Online sales also increased by 6%, with growth in both orders and basket size. The company said it is progressing with its 'More for More' plan, opening seven new convenience stores and two new supermarkets, both performing ahead of expectations. Tu Clothing sales grew by 8%, with womenswear up by 13%. Sainsbury's is investing in reducing fulfilment costs, tighter stock management, and optimising the store operating model to support its customer proposition. Sainsbury's added: 'We are confident in delivering £1bn of cost savings by March 2027, investing in high-returning activity across the customer proposition, productivity, operations and technology stability and resilience.' Sainsbury's has reported a significant rise in its after-tax profit to £242m ($320m) for the fiscal year 2024/25 (FY24/25) – a 76.6% increase from the previous year's £137m. "Sainsbury's like-for-like sales grew 4.7% in Q1 FY25/26" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Scottish Sun
a day ago
- Business
- Scottish Sun
Sainsbury's sees sales boost thank to Marks & Spencer cyber attack
Grocery sales for the supermarket jumped by 5 per cent, SAINSBURY'S MARK UP Sainsbury's sees sales boost thank to Marks & Spencer cyber attack Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SAINSBURY'S has seen a boost in sales, partly thanks to the cyber attack that disrupted rival Marks & Spencer earlier this year. The supermarket reported a 4.7 per cent rise in group sales for the 16 weeks to June 21, excluding fuel. Sign up for Scottish Sun newsletter Sign up 1 Sainsbury's has seen a sales boost thanks to the cyber attack on Marks & Spencer Credit: Getty Grocery sales jumped by 5 per cent, while Argos saw a 4.4 per cent increase as shoppers bought fans and paddling pools during the warm weather. Sainsbury's said it had achieved its highest market share since 2016, growing share three years in a row. Boss Simon Roberts admitted that the M&S disruption had helped, saying: 'If a store is low on stock, customers will go somewhere nearby. 'We've had a little bit of benefit.' At yesterday's annual general meeting, M&S boss Stuart Machin said he expects online services to be fully restored within four weeks. Sainsbury's said strong first quarter performers included Taste the Difference fresh food, which saw sales surge 20 per cent as customers snapped up picnic and deli ranges in the sunny weather. Tu Clothing sales jumped 8 per cent, driven by a 13 per cent womenswear leap. Sainsbury's also confirmed it is on track to meet its £1billion profit target for the year, despite the impact of price cuts. Meanwhile, food price inflation rose 3.7 per cent in June, up from 2.8 per cent in May. Money News Today - Daily Episode RATE CUT HINT MILLIONS of borrowers could see their costs drop as interest rate cuts look more likely next month. Bank of England governor Andrew Bailey said the labour market is 'softening', with pay rises slowing down. Markets now predict a 75 per cent chance of rates being cut from 4.25 per cent to four per cent. Mr Bailey said: 'The path of interest rates will be gradually downwards.' PLUGS A HOLE SOUTHERN WATER's owner has pumped £1.2billion into the struggling utility to shore up its finances. Australian firm Macquaire, which used to own Thames Water, has already handed over £655million, with another £545million expected by December. Southern Water, which serves 4.7 million people in the South and South East, has built up nearly £9billion in debt. SQUEEZE ON CASH ISAS SAVERS are set to be dealt a blow as the Chancellor plans to slash the cash ISA allowance. Right now, you can save up to £20,000-a-year tax-free across four ISAs: cash, stocks and shares, lifetime, and innovative finance. The £20,000 limit will stay, but the amount allowed in cash ISAs is set to be reduced, according to The Financial Times. It is intended to encourage more money into stocks and shares ISAs, which potentially offer better returns and more support to the economy. Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club.
The Sun
a day ago
- Business
- The Sun
Sainsbury's sees sales boost thank to Marks & Spencer cyber attack
SAINSBURY'S has seen a boost in sales, partly thanks to the cyber attack that disrupted rival Marks & Spencer earlier this year. The supermarket reported a 4.7 per cent rise in group sales for the 16 weeks to June 21, excluding fuel. 1 Grocery sales jumped by 5 per cent, while Argos saw a 4.4 per cent increase as shoppers bought fans and paddling pools during the warm weather. Sainsbury's said it had achieved its highest market share since 2016, growing share three years in a row. Boss Simon Roberts admitted that the M&S disruption had helped, saying: 'If a store is low on stock, customers will go somewhere nearby. 'We've had a little bit of benefit.' At yesterday's annual general meeting, M&S boss Stuart Machin said he expects online services to be fully restored within four weeks. Sainsbury's said strong first quarter performers included Taste the Difference fresh food, which saw sales surge 20 per cent as customers snapped up picnic and deli ranges in the sunny weather. Tu Clothing sales jumped 8 per cent, driven by a 13 per cent womenswear leap. Sainsbury's also confirmed it is on track to meet its £1billion profit target for the year, despite the impact of price cuts. Meanwhile, food price inflation rose 3.7 per cent in June, up from 2.8 per cent in May. RATE CUT HINT MILLIONS of borrowers could see their costs drop as interest rate cuts look more likely next month. Bank of England governor Andrew Bailey said the labour market is 'softening', with pay rises slowing down. Markets now predict a 75 per cent chance of rates being cut from 4.25 per cent to four per cent. Mr Bailey said: 'The path of interest rates will be gradually downwards.' PLUGS A HOLE SOUTHERN WATER's owner has pumped £1.2billion into the struggling utility to shore up its finances. Australian firm Macquaire, which used to own Thames Water, has already handed over £655million, with another £545million expected by December. Southern Water, which serves 4.7 million people in the South and South East, has built up nearly £9billion in debt. SQUEEZE ON CASH ISAS SAVERS are set to be dealt a blow as the Chancellor plans to slash the cash ISA allowance. Right now, you can save up to £20,000-a-year tax-free across four ISAs: cash, stocks and shares, lifetime, and innovative finance. The £20,000 limit will stay, but the amount allowed in cash ISAs is set to be reduced, according to The Financial Times. It is intended to encourage more money into stocks and shares ISAs, which potentially offer better returns and more support to the economy. Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club.
North Wales Chronicle
a day ago
- Business
- North Wales Chronicle
Sainsbury's buoyed by M&S cyber disruption and sunny weather
The UK's second largest supermarket said the hack at M&S, which left some of its shelves empty at the height of the crisis, helped drive customers into Sainsbury's stores. Chief executive Simon Roberts said: 'If a particular store is lower on stock, in the moment, a customer will go somewhere nearby.' 'Everybody has benefited a little bit as a result (of the attack),' he added. The group saw customers turn to Sainsbury's for lunchtime food and sandwiches in the early days of the M&S disruption, which forced the group to suspend all online orders and impacted some stock availability. M&S has since resolved the stock issues and has reopened its website for orders with aims for its online operations to be fully restored within four weeks. Sainsbury's said sunny weather also helped total sales jump in its first quarter, up 4.9% in the 16 weeks to June 21. The group said it had achieved its highest market share since 2016, having grown share for three years in a row. Its latest update showed grocery sales lifted by 5% in the quarter, with growth of 4.2% for general merchandise and clothing, while the Argos business saw sales rebound by 4.4%. On a like-for-like basis, excluding fuel and VAT, group sales rose by 4.7% in the best performance for at least a year. Warm weather boosted demand for Taste the Difference fresh food, which saw sales surge 20% as customers snapped up picnic and deli ranges. Tu Clothing sales jumped 8%, driven by a 13% leap for womenswear, which the group put down to better design and strong availability. Its Argos business also enjoyed a sales bounce back, with growth increasing to 4.4% from 1.9% in the previous three months – the second quarter in a row of rising sales. It said Argos trading was helped by 'warm and dry weather against a weak comparative'. The group said it was making progress on efforts to revamp the Argos division, focusing on driving more shopping visits and higher basket sizes. But the figures come amid further signs of mounting food price inflation, with the latest BRC (British Retail Consortium)-NIQ Shop Price Index figures on Tuesday showing food prices were 3.7% higher in June, up from 2.8% in May. Simon Roberts, chief executive of Sainsbury's, said: 'We know how important it is that we provide consistently great value and we have built further on our strong competitive position, improving our prices against all key competitors year-on-year. 'We're now offering even more opportunities for customers to save on the items they buy most often through the biggest Aldi price match commitment in the market, covering around 800 everyday essentials.' Sainsbury's confirmed it was on track with guidance for the full-year, which is set to see underlying operating profits remain flat at about £1 billion as stronger sales volumes are expected to be offset by weaker profitability amid investment in price cuts. 'Profit delivery will be supported by continued growth in Nectar profit contribution and industry-leading, cost-saving delivery and will be weighted more towards the second half versus last year,' according to the group.
South Wales Argus
a day ago
- Business
- South Wales Argus
Sainsbury's buoyed by M&S cyber disruption and sunny weather
The UK's second largest supermarket said the hack at M&S, which left some of its shelves empty at the height of the crisis, helped drive customers into Sainsbury's stores. Chief executive Simon Roberts said: 'If a particular store is lower on stock, in the moment, a customer will go somewhere nearby.' 'Everybody has benefited a little bit as a result (of the attack),' he added. Marks & Spencer suffered some stock issues at the height of the cyber woes (Holly Williams/PA) The group saw customers turn to Sainsbury's for lunchtime food and sandwiches in the early days of the M&S disruption, which forced the group to suspend all online orders and impacted some stock availability. M&S has since resolved the stock issues and has reopened its website for orders with aims for its online operations to be fully restored within four weeks. Sainsbury's said sunny weather also helped total sales jump in its first quarter, up 4.9% in the 16 weeks to June 21. The group said it had achieved its highest market share since 2016, having grown share for three years in a row. Its latest update showed grocery sales lifted by 5% in the quarter, with growth of 4.2% for general merchandise and clothing, while the Argos business saw sales rebound by 4.4%. On a like-for-like basis, excluding fuel and VAT, group sales rose by 4.7% in the best performance for at least a year. Warm weather boosted demand for Taste the Difference fresh food, which saw sales surge 20% as customers snapped up picnic and deli ranges. Tu Clothing sales jumped 8%, driven by a 13% leap for womenswear, which the group put down to better design and strong availability. Its Argos business also enjoyed a sales bounce back, with growth increasing to 4.4% from 1.9% in the previous three months – the second quarter in a row of rising sales. It said Argos trading was helped by 'warm and dry weather against a weak comparative'. The group said it was making progress on efforts to revamp the Argos division, focusing on driving more shopping visits and higher basket sizes. But the figures come amid further signs of mounting food price inflation, with the latest BRC (British Retail Consortium)-NIQ Shop Price Index figures on Tuesday showing food prices were 3.7% higher in June, up from 2.8% in May. Simon Roberts, chief executive of Sainsbury's, said: 'We know how important it is that we provide consistently great value and we have built further on our strong competitive position, improving our prices against all key competitors year-on-year. 'We're now offering even more opportunities for customers to save on the items they buy most often through the biggest Aldi price match commitment in the market, covering around 800 everyday essentials.' Sainsbury's confirmed it was on track with guidance for the full-year, which is set to see underlying operating profits remain flat at about £1 billion as stronger sales volumes are expected to be offset by weaker profitability amid investment in price cuts. 'Profit delivery will be supported by continued growth in Nectar profit contribution and industry-leading, cost-saving delivery and will be weighted more towards the second half versus last year,' according to the group.
