Retailer giant Sainsbury's has announced that while general merchandise sales has remained steady at £6 billion, its Home and Furniture sales has experienced a decline due to unfavourable weather conditions and challenging market conditions.
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In the company's Preliminary Results for the 52-week period ending on March 2, 2024, the total sales of the group rose by 3.4% to £36.3 billion compared to £35.1 billion in 2023. The underlying pre-tax profit also saw an increase of 1.6% to £701 million from £690 million.
Regarding its Habitat range, the group mentioned their expansion efforts, particularly highlighting the success of their new home fragrance collection. Habitat is set to celebrate its 60th anniversary in May with an innovative collection in collaboration with designers like Sebastian Conran.
As for Argos, Sainsbury's emphasised their focus on enhancing digital capabilities to drive traffic, increase basket spend, and improve conversion rates. They are working on developing the website, app, and customer relationship management systems to provide a better online shopping experience.
Source: www.bigfurnituregroup.com