Source: esmmagazine.comUK: Sainsbury's reports a 27% drop in profitsSupermarket Sainsbury’s has revealed a 27% fall in half-year profits, but cheered soaring grocery sales as it focused on keeping food costs down for cash-strapped customers. It will stock a range of everyday essentials including toiletries, washing essentials, over-the-counter medicines and store cupboard staples (non-perishables - there won’t be any fresh fruit and vegetables). Source: grocerydive.comUS: Grocery, fresh food spur Costco’s October comparable-sales growthFor the four weeks ended Sunday, net sales rose 4.5% to $18.53bln from $17.73bln a year earlier, Costco reported. The uptick trailed the 6% year-over-year net sales gain in September and came against a 7.7% increase in October 2022. The eight-week year-to-date period saw Issaquah, Washington-based Costco lift net sales by 5.3% to $36.5bln from $34.74bln a year ago.

Source: The Guardian November 02, 2023 14:02 UTC