As pale crowds emerged from quarantined cities they wanted desperately to celebrate life. In the realities of the third millennium it usually manifest itself in the shopping frenzy. It wasn’t too expressed because people don’t feel safe for the future. Anyway the drive to malls reflected itself in positive retail stats.
Supermarket chain Sainsbury’s has seen significant sales growth in the past quarter, driven by increased food sales and growth in online sales during the quarantine. In the period from 16 weeks to June 27, comparable sales increased 8.2 percent year-over-year.
It is Sainsbury’s first trade update under new CEO Simon Roberts who will lead the company effective June 1. Because of the quarantine, the British hoarded en masse and Sainsbury’s took advantage of this. Sales of clothing and fuel actually decreased. Sainsbury’s thinks revenue growth will weaken in the near future.
The impact of the corona crisis on annual profit estimates Sainsbury’s at more than £ 500 million, partly because higher costs had to be incurred for the safety of personnel in stores. This impact will be partially offset by higher government sales and relief measures, the company said.