Sainsbury, the well-known British fashion retailer, is elated over its Q1 performance and has said that sales have been better-than-expected.
The quarter that ended 26 June 2021 saw the retailer’s Tu clothing brand post sales jump of 57.6 per cent, with full price sales going up by 95 per cent.
While releasing the figures through a statement released to media, Sainsbury also reported a 15.5 per cent rise in apparel sales, compared to what it was during the same period in 2019.
The multi-channel retailer also saw strong growth in seasonal and womenswear ranges and gained market share on both volume and value.
Talking of overall retail sales, the jump was 1.6 per cent from 2020, while it was up by 10.3 per cent when compared to 2019.
The growing good numbers have now helped the retailer forecast a full year profit before tax of at least £660 million.
With shopping habits changing fast and restrictions getting eased, Simon Roberts, CEO, J Sainsbury, Plc believes the retailer is all set up to serve the customers however they want to shop.
Founded in 1869, the London-based retailer generated £28.993 billion in 2020.
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