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News Release

FEATURE ARTICLE

JLL reacts to Sainsbury’s annual results out today

Reporting their first annual loss for 10 years


​​Tim Vallance, Head of UK Retail at JLL comments: “Although Sainsbury’s announced a loss today, it isn’t as bad as some analysts were predicting and in relation to Tesco’s huge impairments last week, Sainsbury’s write-downs seem modest. The large UK grocers have been reacting to unprecedented and more worryingly, unpredicted changes in consumer habits which have led to grocery shopper promiscuity and smaller more frequent shopping trips. The reason that Sainsburys has been able to weather the storm of change better than some of its competitors is undoubtedly due to their loyal customer base, who have always been attracted to the brand, variety of offer, convenience, price and quality. Perhaps one of the main reasons for their resilience is that they emerged as one of the few innocent parties in the 2013 “horsemeat scandal” and provenance of product will remain key to most consumers when choosing a grocer.”