Gradual easing of quarantine measures are good for retailers. Sainsbury’s (FTSE:SBRY) has increased its outlook after sales increased last quarter. This was announced by the major British supermarket chain on Tuesday in an interim trade report.
FTSE:SBRY sales increased by 1.6 percent on a comparable basis and without fuel sales in the quarter that ran until 26 June this year. Including fuel, the growth was 8.4 percent.
Online Sainsbury FTSE:SBRY was able to increase its turnover by a whooping 29 percent on an annual basis. Compared to two years ago, the online sales increase was as much as 142 percent.
Sainsbury FTSE:SBRY expects an underlying pre-tax profit of GBP 660 million for the current financial year. That was, in the April forecast, approximately £ 620 million.
A year earlier, the FTSE:SBRY recorded a positive result of £ 586 million with this ticker.