Strong first-quarter sales performances for Sainsbury’s has seen its total retail sales rise by 9.8% in the 16 weeks to June 24, 2023, against the backdrop of price cuts.
The latest results also show a strong grocery performance, with sales up 11% in the 16 weeks to June 24.
According to the supermarket giant 100% of its of fresh pork, milk and eggs are supplied by British farmers.
According to Simon Roberts, chief executive of Sainsbury’s, food price inflation is decreasing.
Roberts said: “Food inflation is starting to fall and we are fully committed to passing on savings to our customers.
“Customers are choosing us when they want to celebrate and we grew ahead of the market over Easter, the coronation and the bank holidays.”
Sainsbury’s price cuts
Roberts said: “Since March, we have invested over £60 million in lowering prices, leading on price cuts across more than 120 essentials like bread, butter, milk, pasta, chicken and toilet roll.
“Prices on our top 100 selling products are now lower than they were in March, against a market where prices have gone up.
“Customers can see that prices at Sainsbury’s has improved and this combination of great value and some good weather in recent weeks means we have grown our food volumes and market share,” he said.
Roberts added: “We are putting all of our energy and focus into battling inflation so that customers get the very best prices when they shop with us, particularly now as household budgets are under more pressure than ever.”
Rhian Bartlett, food commercial director at Sainsbury’s, also highlighted that in the last two years the retailer has invested £560 million “in keeping prices low”.
“More recently we’ve reduced the price of high-volume essentials including bread and butter, milk, tuna and toilet roll,” he added.
Sainsbury’s recently announced that its own brand of two-pint bottles of milk have been reduced from £1.25 to £1.20.
The supermarket also announced that Sainsbury’s whole chicken breast fillets will be price-matched to Aldi for the first time.
“We hope that these continued price cuts will help reassure customers that we are passing on savings as soon as we can, especially on the everyday essentials people buy the most,” a spokesperson for Sainsbury’s said.