Sainsbury's sales are slipping
Sainsbury's sales are on the wane again, after the supermarket reported a 0.8% fall in like-for-like sales. These figures are for the first quarter to 4th June.
Are you ready for someone from a supermarket to say something along the lines of 'challenging conditions on the high street'?
Chief executive Mike Coupe said the business had seen a "solid start to the year", which actually saw the actual number of transactions going up for the supermarket.
So what could be the reason for this slip? Get your bingo cards out for struggling retailers.
Coupe said: "Market conditions remain challenging. Food price deflation continues to impact our sales and pressures on pricing mean the market will remain competitive for the foreseeable future."
"However, we are confident that our strategy to be a trusted multi-channel, multi-product and services retailer is delivering and will enable us to continue to outperform our major peers."
This follows Sainsbury's decision to stop offering their "brand match" service, where customers got money off vouchers if their groceries cost more than it would with one of their rivals.
They are vowing to simplify deals, and by August, most multi-buy promotions will have vanished.
TOPICS: High Street News