Sainsbury’s has reported a fall in sales as shoppers cut back on spending amid intensifying “pressure on household budgets”.
The company saw a 4% drop in like-for-like sales, excluding fuel, over the 16 weeks to 25 June, compared with the same period last year.
The slump was largely driven by weakness in sales of general merchandise and clothing.
Sainsbury’s saw its grocery sales dip by 2.4% when compared with last year’s levels, which had benefitted from pandemic restrictions that saw fewer people eating in restaurants and cafes.
Simon Roberts, chief executive of the supermarket group, said the company is “working hard to reduce costs” across its business.
“We really understand how hard it is for millions of households right now and that’s why we are investing £500 million and doing everything we can to keep our prices low, especially on the products customers buy most often,” he said.
“The pressure on household budgets will only intensify over the remainder of the year and I am very clear that doing the right thing for our customers and colleagues will remain at the very top of our agenda.”
