CEO Simon Roberts noted, "We're making the biggest market share gains in the industry, with continued strong volume growth," highlighting a shift towards premium product purchases as dining out becomes more expensive.
Roberts explained that around 25% of Sainsbury's shoppers are new customers, indicating that strategic initiatives such as Aldi price-matching and launching new products are effectively attracting a broader customer base.
Despite a strong performance in groceries, Argos experienced a 5% sales decline, affected by external factors like weather and cautious consumer spending on big-ticket items, prompting Sainsbury's to implement promotional strategies.
Sainsbury's total retail sales, excluding fuel, reached £16.3 billion, marking a 3.1% increase. However, statutory pre-tax profits fell sharply due to planned business investments, demonstrating the balance of growth and strategic expenditure.
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