Sainsbury’s sails on as M&S founders on the retail rocks

Outlook

Shop for life? Sainsbury’s shares are at an 11-year low (PA)

It feels a bit mean to compare Sainsbury’s to M&S. While both of their sales are falling, Sainsbury’s is making a pretty good fist of a difficult hand while M&S has been disappointing for just about as long as anyone can remember.

M&S’s core clothes business is struggling, but it’s food offering is in rude health. By contrast, sales at Sainsbury’s core grocery business are falling (although it’s doing better than most) but its clothing business is motoring.

If I had to pick one side of this looking glass, to be on, it would be Sainsbury’s. While M&S is seeking to squeeze margin from a diminishing band of customers, Sainsbury’s has ideas. It is dipping its toes in discount waters with Netto, an online clothing business has just made its debut and there are new store formats. It’s hard to see customers falling in love with self-service checkouts for trollies, but you can’t fault Sainsbury’s for trying.