Sainsbury's sales continue to fall amid supermarket price war
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Loading... - SUTH INTHUVARMAN
- 10 Jun 2020
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Sainsbury’s has fallen victim to the supermarket price war.
The supermarket chain’s sales have fallen for the sixth consecutive quarter as rival stores Tesco, Asda and Morrisons slash prices and dish out special offers to entice customers.
Chief exectutive of Sainsbury’s Mike Coupe shrugged off the loss, claiming ‘food deflation and highly competitive pricing’ were to blame for the decrease in sales.
He added: ‘These pressures, including the effect of our own targeted price investment, have led to a fall in like-for-like sales for the quarter.’
The brand announced their first annual loss in a decade last month, falling into the red by £72million.
Although Sainsbury’s had a 0.3% sales fall, they clung on to 16.5% of the market share, which is being gobbled up by discounters Aldi and Lidl as shoppers look to fill their trolleys with bargains.
Mr Coupe said Sainsbury’s would fight to ‘match whatever our competitors throw at us’ after Morrisons fired the latest missile in the price war by announcing 200 everyday items like milk, bread and butter would be slashed as much as a third.
So it’s your move, Sainsbury’s.
