Great article from Oliver Shah at The Times showing that elevated sales in Britain’s supermarkets may be here to stay, quoting Shore Capital’s Clive Black view that the sector ‘now enjoys a permanently “elevated sales base” from which to trade’.
The UK’s big four grocers are approaching near double-digit sales growth at Christmas, with UK grocery market LFL total sales up 8% vs 2019. JP Morgan’s analysts predict Tesco to report 10% Yo2Y LFL sales growth, with Sainsbury’s at 8.5%. M&S has also been predicted to hit c.10% on food sales.
These sales are expected to remain with working from home expected to continue, resulting in increased consumption at home.
To read more, please see here