Positive Trading Update from Sainsbury's

Impressive trading results from Sainsbury's despite the backdrop of supply chain issues. Real estate remains at the core of their food first strategy, with further confirmation of the profitability of online sales.

  • Grocery sales up 9.1% YO2Y (or 1% YOY)

  • Online sales are up 128% YO2Y (or 13% YOY)

  • Groceries online now 17% of grocery versus

  • 15 per cent this time a year ago

  • 8 per cent two years ago

  • 254 stores providing home delivery, 325 stores providing click and collect

  • + 9% improvement in store picking productivity (IPH)

  • + 10% delivery drop densities

  • Strong retail free cash flow of £554m. On track to meet net debt reduction targets

To read more please see here