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Prices & Quotes - UK Markets - Sainsbury (J) (SBRY)

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Share Price:
Up 245.60p
Change Today:
0.90p
Market Cap:
5,486m
Sector:
Food & Drug Retailers

Sainsbury's to match Aldi prices in new battle on market share

By Frank Prenesti

Date: Wednesday 10 Feb 2021

LONDON (ShareCast) - (Sharecast News) - UK supermarket Sainsbury's said it was slashing the prices of hundreds of essential groceries to match discount rival Aldi.
The supermarket chain is launching an Aldi price match scheme as the UK's largest grocers continue attempts to thwart the rapid growth of the German discounter and its compatriot Lidl.

Around 250 products will see prices reduced to match the equivalent items at Aldi, such as meat, chicken, fresh fruit and dairy.

Sainsbury's chief marketing officer Mark Given told the Press Association newswire the price cuts would be funded by a "significant investment".

"When we've completed research, our shoppers have highlighted our quality and value for money, but with customers who also shop in other supermarkets we need to improve our price perception," he said.

"We need to communicate this better with customers because the value is there."

Price reductions will include reducing a kilo of plain flour from 80p to 45p, a kilo of baby potatoes from 95p to 65p and a 21-day matured rump steak from 2.50 to 2.32.

The cuts, which will primarily involve own-brand products, come almost a year after Tesco launched its own Aldi price match scheme to keep its prices in competition with the fast-growing discounters. Sainsbury's said the price match was the first initiative of chief executive Simon Roberts' strategy update, announced in November.

Aldi has seen its rapid sales growth fall behind some of its rivals during the pandemic, as its smaller online proposition meant it has not been able to fully take advantage of the booming demand for home deliveries.

Figures from Kantar showed that Aldi sales grew by 5.7% in the 12 weeks to January 24, compared with 12.2% growth across the UK grocery market as a whole.

Sainsbury's sales were 12% higher for the period after expanding its online delivery capacity, according to the data.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Sainsbury (J) Market Data

Currency UK Pounds
Price 245.60p
Change Today 0.90p
52 Week High 252.90p
52 Week Low 179.15p
Volume 3,615,364
Shares Issued 2,233.53m
Market Cap 5,486m
Beta 0.00

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 8
Sell 1
Strong Sell 1
Total 15
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sainsbury (J) Dividends

  Latest Previous
  Special Interim
Ex-Div 12-Nov-20 12-Nov-20
Paid 18-Dec-20 18-Dec-20
Amount 7.30p 3.20p

Trades for 09-Apr-2021

Time Volume / Share Price
16:38 6,606 @ 245.60p
16:35 1,820,834 @ 245.60p
16:29 244 @ 245.90p
16:29 3,873 @ 245.90p
16:29 1,200 @ 245.90p

Sainsbury (J) Key Personnel

CFO Kevin O'Byrne
Chair Martin Scicluna
CEO Simon Roberts