Sainsbury's

Ticker SBRY

Today's data summary

Market closed
% change
-0.20%
Price Pence
203.10
Change
-0.40
As of 02:06 07 Feb 2020
Market cap. Pound sterling
4,494.36 million
As of 02:06 07 Feb 2020

Latest updates

Big supermarkets see market share drop again

Tesco sign
Reuters

Despite the increased demand for non-alcoholic drinks and the growing popularity of Veganuary, Britain's supermarkets struggled to increase sales last month, according to the latest data from Kantar Worldpanel.

The retail analysts reported muted sales growth of 0.3% across the sector in the 12 weeks to 12 January, with the Big Four all suffering declines.

Tesco's market share dropped to 27.3% from 27.7% a year earlier, Sainsbury's to 15.8% from 15.9%, Asda to 14.9% from 15.3%, and Morrisons fell to 10.3% from 10.6%.

Sales of non-alcoholic beer rocketed 37% in the past three months, but more than 15 million households still bought alcohol during the past four weeks of dry January.

Sainsbury's to check suppliers' carbon emissions

Today Programme

BBC Radio 4

Sainsbury's branch in north London
Getty Images

Sainsbury's has promised to reduce its net carbon emissions to zero over the next 20 years.

Outgoing chief executive Mike Coupe tells the Today programme that the supermarket would be writing to its suppliers to ensure "they are playing their part in reducing our carbon emissions".

He adds: "We need to understand further up our supply chains how we impact the environment and make sure our suppliers are working towards eliminating their carbon emissions as well."

Asked whether it would help carbon emissions to sell more UK produce instead of food from overseas, he said: "We have to find a balance regarding 'food miles'.

"We have to bring our customers on the journey with us. It is more environmentally-friendly to grow products in environments that are suitable for those products. But equally there is a trade-off between doing that, our customers having availability of those products and the way that we bring them to the market."

I promised myself I'd stop working at 60, says Sainsbury's boss

Today Programme

BBC Radio 4

Mike Coupe
Getty Images

Sainsbury's chief executive Mike Coupe, who announced last week that he is stepping down from the role in May, denies he is leaving because of the supermarket's failed merger with Asda.

"I am approaching my 60th birthday and I always promised myself I wouldn't work beyond that," he tells the Today programme.

"I'm going to take some time off, spend some time with my family and see where it goes from there. I’ve done this role for six years, I’ve worked for Sainsbury’s for 15 years and I’ve worked in this industry for 35 years," he says.

"If you look at our AGM (annual general meeting) last year, 99.5% of our shareholders voted for me to carry on doing what I’m doing.

"This is absolutely my choice, and something I promised myself throughout my career that at the age of 60 I will stop and do something different with my life."

'It's very tough in retail'

Maureen Hinton, retail research director at Global Data, didn't consider Mike Coupe's decision to stand down as Sainsbury's boss a shock.

After the Asda deal didn’t go through it needed a period of stability to get the company back on track.

So it probably needs someone else to take over. You need a fresh eye. It’s very tough in retail generally, but there’s a big argument for saturation in the grocery sector. There’s only so much we can eat."

Maureen HintonRetail research director at Global Data

Sainsbury's took 'its eye off the ball'

Editor of Retail Week tweets about Mike Coupe's departure...

BreakingSainsbury's appoints new chief executive

Sainsbury's store entrance
GETTY IMAGES

Sainsbury's has announced that its current retail and operations director Simon Roberts will take up the role of chief executive from 1 June.

It confirmed that Mike Coupe would retire later this year, having spent 15 years in total working for the supermarket chain.

Stepping down after nearly six years as chief executive, Mike Coupe said: "I feel very privileged to have spent almost six years running Sainsbury’s, in a period that has been the most challenging and competitive of my 35 year career in retail.

"Adding Argos and Nectar to the business improves our ability to make shopping increasingly convenient for customers and to reward them for their loyalty. We have also been focused on investing in value so that customers feel confident they are getting quality food at great prices when they shop with us.

"This has been a very difficult decision for me personally. There is never a good time to move on, but as we and the industry continue to evolve, I believe now is the right time for me to hand over to my successor."

BreakingHundreds of management jobs to go at Sainsbury's

Sainsbury's branch
Getty Images

Sainsbury's is to cut "hundreds of management roles" in the next few months by "streamlining its structure".

The supermarket chain - which also owns Argos - said it has already cut its leadership team by 20% since last March.

"We have to adapt to continue to meet the needs of our customers now and in the future and, while change can be hard, it’s also necessary," said chief executive Mike Coupe.

The company has been busy cutting costs since its attempt to merge with Asda was blocked in April by the Competition and Markets Authority and is now busy integrating further with Argos, that it bought in 2016.