Sainsbury’s raises profit forecast as performance ‘better than expected’
Sainsbury’s has upgraded its profit outlook as it makes “good progress against the plan to put food back at its heart”.
Sainsbury’s recorded like-for-like sales up 1.6% in the first quarter to June 26 as all of its categories outperformed expectations.
Online grocery sales did particularly well, up 29%, while grocery sales in general inched up 0.8%.
Clothing sales also jumped 58%, while general merchandise sales dropped by 1.4% compared with last year’s elevated levels, but still performed better than expected.
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