Chris Choi

Consumer Editor

Chris Choi is Consumer Editor for ITV News and covers a wide range of economic, industrial and social issues. He delivers some of the most powerful stories for ITV News by getting to the heart of consumer issues, holding businesses to account and interviewing ordinary people directly affected.

  1. Chris Choi

Sainsbury's losses reflect new wave of consumer power

Sainsbury's profits have taken a hit Credit: PA Wire

Sales at Sainsbury's have taken a battering - with the chain's first full-year loss for a decade. A barrage of fierce discounting and competition has knocked Britain's third largest supermarket. It's been hit in profits, sales and market share.

Sainsbury's reported a £72m loss in the year to March. Like-for-like sales fell 1.9% to £26 billion.

Scratch the surface - and this isn't just about Sainsbury's. Britain's largest grocery chains are being transformed - reshaped by the biggest changes in 30 years. Consumers are shopping more frequently, more locally, more online. But with a lot less loyalty.

On one side discounters like Aldi and Lidl are strengthening - on the other Waitrose is gaining...leaving middle ground grocers like Sainsbury's under growing pressure. Sainsburys results were hit by one-off costs, most significantly a drop in the value of some of its property. But there's no doubt that other factors are far more long term.

Big grocery chains are being forced to pour money into discounts. And the price war is far from over.

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