Sainsbury’s CEO Mike Coupe, has bowed to the inevitable and is stepping down from his role in May. He’s being replaced by current Retail and Operations Director Simon Roberts, who’s been at the firm for three years.
There was good news and bad from UK supermarkets giant Sainsbury's on Wednesday as the company’s third-quarter trading statement (the 15 weeks to January 4) showed weak sales, although fashion was stronger.
Sainsbury's can't seem to catch a break. As some rivals in the UK supermarkets sector start to recover, the company has turned in another sales fall and even its previously resilient fashion offer's sales dropped in Q1.
Sainsbury’s may be bruised after its merger plan with Asda failed to get competition authority approval, but the company is still getting on with business as usual even if meaningful sales growth remains elusive.