When Tesco ([[TSCDF]], [[TSCDY]]) released its recent quarterly trading results (COVID-19 Means Supermarket Sales Increase, But Flat Profits: Analyzing Tesco's Results), I suggested that its results (sales up, profits flat or even down) might be indicative of what to expect across the sector as a consequence of COVID-19 and the lockdown. J Sainsbury plc ([[JSNSF]], [[JSAIY]]) has now released its Q1 trading statement and the message it shares is very similar to Tesco's.
COVID-19 Saw Sales Increase and Online Sales Surge
Grocery sales increased by 10.5%. Like-for-like sales growth was slightly lower, reflecting