As of 15.07 BST, Sainsbury’s share price had added 1.14 per cent to 338.40p, outperforming the UK benchmark index which has fallen into the red standing at 0.27 per cent lower at 7569.74 points. Sainsbury’s stock value experienced a monthly high of 338.2 on the 16th of August, with its low point being 323.20 on the 26th of July.
Summer sun aided supermarkets
According to the Kantar data, market leader, TESCO saw growth of 1.8 per cent, ASDA grew 2.6 per cent and Morrisons grew 2.7 percent, all ahead of Sainsbury’s with a growth of 1.2 per cent, reported in Reuters. The data revealed that the heatwave assisted the overall strong growth of the supermarket sector. It reported that in July, as additional $67 million was spent on alcoholic drinks, and sales of non-alcoholic beers also rose to 58 per cent compared to 2017.
Own-labels outstripped by brands
Head of retail and consumer insight at Kantar Worldpanel, said: “Willingness to spend that little bit extra to fully enjoy the summer sunshine has helped push brands ahead of their own-label counterparts. “At Tesco and Sainsbury’s branded growth has outstripped own-label for a while and – as the two biggest retailers in the grocery market – this has contributed to the market shift.” As reported by Marketing Week.
Share price increases
Overall, it has been a moderate morning for supermarkets listed on FTSE 100 (INDEXFTSE:UKX) with share price increases for both Morrisons (LON:MRW) and Sainsbury’s (LON:SBRY), but in contrast a fall for Tesco’s (LON:TSCO). Reflecting the good news for Morrison’s, the value of stocks has risen 3.75 to a value of 267.55GBX (1.42%) as of 11:47 this morning.