Shoppers going “all out for a big Christmas dinner” and returning to Argos stores amid the rail and postal strikes have helped put Sainsbury’s on track to achieve annual profits at the top end of expectations (The Guardian).
Early Christmas shopping and customers watching the World Cup at home helped boost Sainsbury’s sales over the festive quarter, Britain’s second biggest supermarket has said (The Mail).
Profits at Sainsbury’s could reach £690m this financial year after it reported robust Christmas sales despite the cost of living squeeze and reduced its costs (The Financial Times £).
Overall sales grew by 7.6% in the 16 weeks to January 7, with grocery and general merchandise revenue increasing by 7.1% and 7.4% respectively (The Times £).
Walk-in sales at Argos over the Christmas week were up 50% compared to the same week last year, as industrial action at the Royal Mail left shoppers wary of ordering online and posting goods (The Telegraph).
Supermarket giant Sainsbury’s said people are shopping more in-store, as they want to see what they are buying amid the cost-of-living crisis (BBC News).
The market report in The Times (£) focuses on Deliveroo after its shares sank following warnings from analysts that deliveries ordered in the fourth quarter will likely fall short of expectations.
Sales at cosmetics firm Warpaint London soared as it cashed in on Christmas. The Buckinghamshire mascara maker, which operates brands Technic and W7, said annual sales are expected to hit £64m, up from to £50m in 2021, when it releases results in April (The Mail).
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