Sainsbury's reveals latest trading results
Sainsbury's has announced its fourth quarter trading results for 2006/07, covering the 12 weeks to 24 March 2007.
The key highlights from the results are: nine consecutive quarters of like-for-like sales growth; like-for-like sales growth of 5.9% excluding fuel (4.9% including fuel) over the final quarter of 2006/07; total sales growth of 7.8% excluding fuel (6.6% including fuel); full year like-for-like sales of 5.9% excluding fuel.
Sainsbury's chief executive, Justin King, said: "We have now completed the second year of our Making Sainsbury's Great Again recovery plan and have delivered strong sales growth in our fourth quarter, the ninth consecutive quarter of growth.
"Like-for-like sales excluding fuel were up 5.9%, slightly ahead of our expectations as we continued to grow market share in a strong market.
"As expected, grocery inflation continued throughout the quarter and was recorded at 2.3%.
"We continue to maintain our competitive price position and reduced prices on over 1,000 products in the quarter."
IGD's Sainsbury's Trade Briefing 2007 in London on 7 June, will allow the Sainsbury's senior team the opportunity to reveal how the retailer intends to build on its success to date.
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