Sainsburys Enjoys Bumper Third Quarter Trading

Thu, 07 Jan 2010
 
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Sainsbury’s has reported better than expected third-quarter sales growth on the back of record customer numbers over Christmas and strong demand for its non-food ranges.

Like-for-like sales at stores rose 4.2 per cent, excluding petrol and VAT sales tax, in the 13 weeks to January 2.

While the figure is down on the 5.4 per cent growth recorded in the second quarter of 2009, due to lower food price inflation, it tops analysts' average Q3 forecast of 3.7 per cent.

Sainsburys said it was continuing to perform well in what remains a "challenging" environment, and was "well placed" for 2010.

The UK’s third-biggest supermarket chain served one million more shoppers each week over the quarter, with customer numbers hitting a record 24 million in the week leading to Christmas Eve.

Chief executive Justin King said the chain had seen a "reversion" to both a high-quality and traditional Christmas, with sales of turkey and trimmings up 14 per cent and a three-fold increase in sales of its own-brand champagne .

He added that sales of non-food products such as clothing and toys grew at over four times the rate of its food range during the three months to January 2.

According to research firm Nielsen, Sainsbury's increased its market share by 2 percentage points to 14.7 per cent in the 12 weeks to Boxing Day.

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