Sainsbury’s profits boosted by Christmas trading

Sainsbury's shopperImage copyright
Getty Images

The UK’s second largest supermarket, Sainsbury’s, has raised its profit guidance after “record” sales during Christmas week.

Sainsbury’s said it now expected annual profits to be up to £20m better than expected despite supermarkets facing a “challenging” market.

The chain sold 1.1% more in the 15 weeks to 6 January, with grocery sales up 2.3%.

Boss Mike Coupe said online sales and premium food ranges helped growth.

The company expects to achieve £80m-£85m of their measure of profit by March 2018, ahead of its previous guidance of £65m.

Source Article from http://www.bbc.co.uk/news/business-42632020

Leave a Reply

Your email address will not be published.