Sainsbury’s reports positive Q1
Sainsbury’s has reported positive trading for the first quarter (in the 12 weeks ending 9 June) with like-for-like sales up 1.4% and sales growth of 3.8% (excluding fuel).
In a report published today, chief executive Justin King said the positive figures have been attributed to helping customers “manage both their weekly budgets and celebrate special occasions”.
He said: “Just as in 2011, the quarter was characterised by five Bank Holidays, a royal event and periods of unseasonal weather. Consistent performance year-on-year puts our two year like-for-like sales growth at 3.3%.”
The retailer reported a 20% year-on-year boost in online sales, which it said was largely the result of an improved website that can be accessed more easily from handheld devices. There was also a 16% year-on-year growth in convenience store sales.
In the last year, Sainsbury’s has added 21 new stores, giving an extra 63,000sq ft of trading space, and has refurbished eight stores.
King said: “Looking forward, we expect the market to remain competitive. Universal appeal, supported by market-leading own-label ranges, brand match and loyalty insight, ensures we help our customers to live well for less. We remain well-placed to continue to outperform the market.”
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