Sainsbury’s reports higher half-year revenue as grocery sales grow
The retailer recorded £16.2bn in revenue for the 28 weeks to 12 September, while quarterly like-for-like growth slowed.
J Sainsbury plc reported higher revenue and underlying operating profit for the first half of its financial year. Grocery sales rose, although quarterly like-for-like growth slowed, and its shares fell in early trading.
J Sainsbury plc reported that total revenue rose 4.1% to £16.2bn for the 28 weeks to 12 September, compared with the same period a year earlier.
Sales from continuing operations, excluding fuel, increased 2.6%. Grocery sales rose 2.9% to £13.2bn, while general merchandise sales fell 3.4%. The company reported underlying operating profit of £525m, up 3.6%.
Quarterly sales growth slowed
City A.M. reported that Sainsbury’s like-for-like sales growth slowed to 1.2% in the three months to September, from 2.3% in the previous quarter. Grocery sales growth eased to 2.2% from 3.5%, while general merchandise and clothing sales declined by 2.9%, compared with a 3.7% fall in the preceding quarter.
The company’s annual results announcement separately said its full-year grocery sales had increased by 5.2%, with volume growth and market-share gains through the year. That full-year figure covers a different reporting period from the half-year trading update.
Shares fell in early trading
City A.M. reported that Sainsbury’s shares fell by nearly 4% to 346p in early trading after the trading update. The article also reported that the chief executive, Simon Roberts, described volume growth during the period as “a bit subdued”.
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ARGOS LIMITED filing history - Companies House - GOV.UK
This Companies House record provides the official legal profile and filing history for Argos, a key subsidiary mentioned in the article, allowing readers to verify its status and governance as a distinct entity.
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This official CMA document includes a glossary and methodological notes on grocery sales data, helping readers understand the specific metrics and definitions used when evaluating supermarket performance.
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Working Paper C Grocery Retailing - Greater London Authority
This working paper from the Greater London Authority offers a structured analysis of grocery retailing, including market shares of major supermarkets, which provides essential background for understanding Sainsbury's position in the sector.
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