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

The Sainsbury’s group includes the Argos and Habitat brands. Photograph: Roger Utting/Alamy

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 has 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 homeware remaining weak as households faced high mortgage and loan costs.