Sainsburys Q4 Sales Performance In Line With Expectations

Sainsbury’s has reported a positive end to the year, with fourth-quarter like-for-like sales, excluding fuel, rising 1.7 per cent.
Although the figure is down from the 3.7 per cent growth recorded in the previous quarter, it is in line with company expectations and caps a “strong year” for the supermarket, with like-for-like sales for the full year to March 20 up 4.3 per cent, excluding fuel .
The UK’s third largest grocery retailer said it opened six supermarkets and completed five store extensions during the last quarter, creating some 1,500 new jobs along the way.
It added that customer numbers have increased by 1 million over the past 12 months to an average of more than 19 million per week.
Sainsburys chief Justin King commented: “We’ve delivered another good performance in line with our expectations on top of strong growth last year.”
“While we expect the consumer environment to remain challenging in 2010, our universal customer appeal together with our accelerated growth of space for new supermarkets, extensions and convenience stores means we are well placed to make continued good progress in the new financial year.”
King added that Sainsbury’s non-food offer “continues to perform well”, growing three times the rate of food, driven by the January sale and the popularity of its childrenswear brand.