Sainsbury’s reports strong online growth
UK supermarket Sainsbury’s has reported impressive online grocery sales and a “stellar growth in Argos Fast Track delivery and collection” in its third quarter trading statement.
In a statement issued today (10 January), Mike Coupe, Group Chief Executive Officer, said: “We’re pleased with our performance across the Group this quarter. We had a strong Christmas week, with record sales, over 340,000 online grocery orders and stellar growth in Argos Fast Track delivery and collection. Online accounted for 20% of the Group’s sales during the quarter.”
Grocery sales grew 2.3% with Groceries Online and Convenience were up 8.2% and 7.3% respectively.
Coupe added: “While market conditions remain challenging and we are cautious about the consumer environment in the year ahead, we now expect to achieve £80m-£85m of EBITDA (£72m-£77m EBIT) synergies from the Argos acquisition by March 2018, ahead of our previous guidance of £65m EBITDA (£58m EBIT). As a consequence we expect 2017/18 underlying profit to be moderately ahead of published consensus.”
POST&PARCEL LIVE: THE FOOD DELIVERY SEMINAR
The food and grocery delivery sector will the topic of Triangle Management’s upcoming Post&Parcel Live Senminar, which will take place on 25 January in London.
Click here to find out more about the seminar.
If you would like to attend as a delegate, please contact Aaron Dulai (Email: [email protected]).
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