Mike Coupe, Group Chief Executive of J Sainsbury’s stated that he was pleased with the progress made in the quarter, with headline numbers reflecting the level of price reductions that have been made in key areas such as fresh meat, fruit and vegetables since March.
Going forward, Sainsbury’s are prioritising on further enhancing Sainsbury’s differentiated food proposition. Sainsbury’s have invested £150m to lower prices, aiming to improve Sainsbury’s price position across key categories. This suggested that they are aiming to remain competitive. They are also investing in food quality, and have completed 51 range reviews covering 27% of grocery sales. Sainsbury’s have also agreed a financing package between Asda and Sainsbury’s of £3.5bn.
You can read Sainsbury’s first quarter trading statement here
The NFU continues to have conversation with Mike Coupe on what the merger between Asda and Sainsbury's means for producers.
Click here to view the NFU’s initial response to the merger between Asda and Sainsbury’s.