Following Kantar’s new data showing UK grocery inflation has fallen to single digits (9.7%) for first time in 16 months, Marks and Spencer has this week followed the path of Tesco and Sainsbury’s by reporting strong results.
Sainsbury’s reported strong interim results this week and is ‘confident’ going into the festive peak trading season, having made ‘record market share gains’ in the first half of the year.
Tesco has recently celebrated its 500th electric home delivery van, with the 500th going to the Tesco Extra in Sheffield, owned by SUPR.
Tesco becomes one of the first companies globally to set validated science-based targets on all greenhouse gas emissions with the Science Based Targets initiative.
Two interesting items in the grocery space today, firstly Kantar’s latest grocery inflation figures,
Major grocers are buying more of their own stores in a bid to manage the risk of higher rents from high inflation. Demonstrating how essential physical stores are to operators.
Strong performance from one of our key tenants Sainsbury’s in its Q1 trading update, with grocery sales up 11%.
Discounters are having to pass through price increases to consumers quicker than any other major grocer, with price inflation of c.24% as shown in the chart
One of SUPR’s key tenants Tesco has published their Q1 results, demonstrating the resilience of the grocery market despite the challenging economic environment.
