UK: Sainsbury's CEO confident of good Christmas sales
Asked whether Sainsbury’s shoppers are likely to spend less this festive season, chief executive Justin King said that while times are tough, shoppers intend to treat themselves and their families.
"People are spreading the cost of Christmas, but they will splash out. We think it will be a quality, celebratory Christmas."
The group expects strong sales of its upmarket Taste the Difference range, which shoppers will balance out by paying less for the group’s own label and basics ranges.
Mr King was speaking as the group reported a 5.4 per cent rise in half-year profits to £373m.
Last week Bradford-based Morrisons announced a 2.1 per cent fall in third-quarter underlying sales and said a third of families are saying they will consciously cut back on Christmas spending.
Source: yorkshirepost.co.uk
