Day: 8 December 2020

Sainsbury’s announced this morning that due to stronger than expected sales they would be increasing their full year profit before tax expectations to be 5% higher than in 2019. The increased forecasts and market visibility has also allowed the grocery operator to support its shareholders by issuing a special dividend of 7.3p that will be paid in lieu of the final 2019/2020 dividend.

The combination of a second lockdown and Christmas shopping has certainly had an impact on the UK grocery market with the latest Kantar figures showing a 13.9% increase in take home grocery sales in the four weeks to 29th November 2020, Representing the fastest growth since August.