Sainsburys Q3 Report 2022
Simon Roberts, Chief Executive of J Sainsbury plc, said:
“We prioritised keeping our prices low and giving our customers great value at Christmas. We went bold on the traditional fresh turkey roast dinner with all the trimmings and dessert, which was the best value in the market at under £4 per head. Sales were also boosted by the World Cup as people celebrated more at home. Our determined focus on delivering the best value alongside new and exciting festive food plus outstanding customer service and availability meant we delivered record sales, and market outperformance at both Sainsbury’s and Argos.
“We understand money will be exceptionally tight this year particularly as many people wait for Christmas bills to land. We are working together with our suppliers to battle cost inflation and we’re keeping prices low again this year with our biggest value campaign yet in January, price matching Aldi on around 300 of our most popular products.
Trading Highlights
Christmas and Q3 Grocery volume performance ahead of the market for the third consecutive year1, driven by investment in value, innovation, service and availability. General Merchandise growth stronger than expected, reflecting market share gains2 as customers trusted Sainsbury’s and Argos for value and the speed and certainty of Argos Fast Track delivery and Click & Collect. Q3 retail (exc. fuel) sales up 5.2%. Like-for-like sales up 5.9%, reflecting inflation and relatively resilient volume trends
- Q3 Grocery sales up 5.6% and General Merchandise sales up 4.6%. Grocery sales 12.5% ahead of pre-pandemic levels
- Christmas sales up 7.1%, with Grocery sales up 7.1%, General Merchandise sales up 7.4% and Clothing sales up 5.1%
- Profits expected to be towards upper end of guidance range £630m to £690m3
- Retail free cash flow expected to be around £600m, ahead of previous guidance of at least £500m
