Sainsbury's reports FY20 sales of £32 billion

Sainsbury’s, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company’s underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).

 

Sainsbury's, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company's underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).#

Operating profit for the year were £650 million (FY19: £601 million). However, retail operating profit fell 4 per cent to £938 million (FY19: 981 million).

 

Sainsbury's, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company's underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).#

Sainsbury’s reported a reduced clothing and general merchandise sales in Sainsbury’s stores, reflecting different customer priorities and reduced stocks of clothing in stores.

 

Sainsbury's, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company's underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).#

Further, strong grocery demand since the start of March was registered, with particularly high demand over week 52 of FY20 and weeks 1 to 2 of our current financial year (FY21) and some normalisation over recent weeks. Also, higher sales at Argos were reported in the early days of lockdown, as customers equipped themselves for home working and spending more time in their homes. 

 

Sainsbury's, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company's underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).#

Groceries online sales during the year grew 7.6 per cent, convenience grew 1.3 per cent and supermarket sales declined 0.1 per cent, impacted particularly by general merchandise sales decline. Clothing grew 1.2 per cent and performed well online, growing 47 per cent.

 

Sainsbury's, a UK-based retailer, has posted marginal 0.1 per cent sales decrease to £32.4 billion in fiscal 2020 ended on March 7, 2020. Company's underlying profit before tax over the year fell 2 per cent to £586 million (FY19 £601 million). Sales of Clothing segment dropped during the lockdown resulting in overall decline in second-half (H2).#

For the upcoming fiscal 2021, Sainsbury’s expects to open around 2 new supermarkets and around 15 convenience stores while expects to close around 8 supermarkets and around 14 convenience stores, as part of announced property closure programme.