Blog: Where is the recession for Sainsbury's?
Dean Best | 25 March 2009
You'd have to look pretty hard for signs of that the recession is hitting UK grocer Sainsbury's.
The country's third-largest retailer today (25 March) booked some pretty impressive figures, with sales growth gaining pace during the last quarter of its fiscal year.
The numbers, which prompted praise from retail analysts, look to have poured cold water on claims among some industry watchers that Sainsbury's status in the middle ground of the UK retail scene would hurt the company during the downturn.
Sainsbury's chief executive Justin King struck an upbeat tone at last week's Retail Week Conference - some said too upbeat - but he clearly knew he had these numbers ready to pull out of his back pocket.
King, a self-proclaimed optimist, has much to smile about. Sainsbury's innovative marketing campaigns, including "Switch and Save" and "Feed Your Family For A Fiver" have proved a hit with more and more cash-strapped UK consumers in recent months.
While Wal-Mart's Asda and Morrisons may be seeing sales rise faster than Sainsbury's, King's success in breathing fresh life in Sainsbury's will not have gone unnoticed at Tesco, which has not enjoyed the same kind of like-for-like sales as its more upmarket competitor.
Sainsbury's, right now, is anything but stuck in the middle.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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