Ray Fowler, Director, Transform, for Campaign
Sainsbury’s latest results are – at first – a confusing mixed bag. While, overall, they have suffered a 9% fall in half-year profits, like-for-like sales actually went up 1.6% which, when compared to the rest of the retail world at the moment – is actually not too shabby.
The supermarket giant is facing the same issues as a lot of other retailers currently but has some distinct elements that sets it apart.
For example, last year’s acquisition of Home Retail Group has played out pretty positively for the brand. A lot of its recent investment has been focused on bringing Argos in-store – which involved closing hundreds of Argos stores around the country and freeing up space in supermarkets in order to bring the retailer closer to home….