Sainsbury’s report losses for the first time in 9 years
That big orange glowing beacon of supermarketness, Sainsbury’s has reported a 3.1% drop in like for like sales in the first three months of 2014. And despite having had Jamie Oliver on board for years, it’s the first time in nearly a decade that sales have slumped.
Sainsbury’s boss Justin King said that the grocery industry has slowed right down, and it had absolutely nothing to do with him or the fact that Sainsbury’s is loads more expensive than Lidl.
He said: ‘Although some economic indicators are showing an improvement in the health of the economy, we expect the outlook for customers to continue to be challenging for the coming year.’
He’s still confident, however, that their Brand Match (a little ticket that says ‘IOU 22p’ that nobody ever gets round to cashing) alongside the data they gather from Nectar cards, will see Sainsbury’s through this slump and make sure they’re ‘outperforming their peers’.
With Morrisons on its knees and waging a price war, Tesco desperately trying to turn stores into soft plays and cafes, and the budget shops ruling the roost on both price and quality – will the Premier League supermarkets soon end up in the McCain Oven Chips retail division, alongside Londis and the 50p Shop?