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Sainsbury’s online sales explode, but CEO plays down lasting impact

The supermarket's new chief executive does not expect the hot sales run to last
Sainsbury’s online sales explode, but CEO plays down lasting impact

Simon Roberts rounded off his first month as J Sainsbury (SBRY) chief executive with the news that first quarter online sales had more than doubled from the same period last year. But the supermarket group warned that its sales growth would falter, observing that the benefits of this surge, and the government’s business rates relief, would be wiped out by a £500m blow to underlying pre-tax profits caused by the pandemic.

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