Sainsbury’s chief says grocery inflation not as bad as feared so far
Summary
The head of Sainsbury’s says grocery price rises in the UK are not as bad as expected so far, though uncertainty remains. The supermarket chain has seen a rise in sales and market share as customers look for ways to save money amid worries about the Middle East conflict and inflation.Key Facts
- Grocery inflation in the UK has been lower than feared, with prices steady in June compared to the previous year.
- Sainsbury’s sales rose by 2.7% to £9.1 billion in the three months ending June 20.
- Grocery sales increased by 3.6% as Sainsbury’s matched prices with cheaper rival Aldi on many items.
- Sainsbury’s Argos store sales dropped slightly due to discounts and customers choosing cheaper goods.
- Customers are cautious about buying non-food items, with more promotions and subdued spending.
- Hot weather and World Cup games boosted sales of fresh foods, ice cream, pizza, and salads.
- Sainsbury’s is investing hundreds of millions in refrigeration upgrades at about 100 stores.
- The company is expanding the use of facial recognition technology to reduce shoplifting, after a successful trial.
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