Sainsbury's not fazed by industry takeover frenzy

CEO says his focus is on delivering results for the British retailer rather than the acquisitions fever that has gripped the sector

The boss of Sainsbury's has said his focus is on delivering the British supermarket group's strategy rather than the takeover frenzy that has gripped the sector.

Shares in Sainsbury's, Britain's second-largest grocer after market leader Tesco, are up 24% so far this year, buoyed by bid speculation.

That started in April when Czech billionaire Daniel Kretinsky raised his stake in Sainsbury's to just under 10% and has been fuelled over the last two weeks by a bid battle for rival Morrisons.

Asked if Sainsbury's board had received any takeover approaches, CEO Simon Roberts said: "If we had anything to update on, we'd be updating on it, so we've nothing to update you on."

I'm not going to speculate on where things are in the wider sector. 

The group's like-for-like sales, excluding fuel, rose 1.6% in the 16 weeks to June 26, its fiscal first quarter.

Meanwhile, online grocer Ocado said the pandemic has resulted in a permanent shift to web-based shopping, helping drive demand for groceries it sells with partner Marks & Spencer. and for its technology which helps retailers expand online.

Ocado announced a 20% rise in first-half retail revenue and a new contract in Spain.

• Reuters