Sainsbury’s says sales revival in big-ticket items depends on base rate cut

Chain is winning market share from rivals but discretionary spend remains cautious, CEO Simon Roberts says

Shoppers are beginning to spend more freely but it will take a cut in interest rates before sales of more expensive items such as TVs and sofas start to take off again, the boss of Sainsbury’s said.

Simon Roberts, the chief executive of the group, which owns Argos and Habitat as well as its supermarkets, said he was cautious about the outlook for general merchandise, with sales of furniture and homewares remaining weak as households faced high mortgage and loan costs.