Sainsbury’s reports 8.4 per cent sales growth

Sainsbury’s revealed strong sales growth in the face of difficult trading conditions in its second quarter trading statement. Total sales for Q2 were up 8.4 per cent (or 5.3 per cent excluding fuel), with the grocer citing non-food ranges a major factor in fuelling growth.  

Like-for-like sales for Q2 were up 7.5 per cent (4.3 per cent excluding fuel) and like-for-like first half sales were up 7.4 per cent (3.9 per cent excluding fuel).

“This is a good result and given the current environment shows how the strength and broad appeal of the Sainsbury’s brand has improved substantially during the past four years,” said chief executive Justin King.

King acknowledged that customer’s wallets were feeling the strain: “During the quarter we continued to develop our offer to help customers manage tighter budgets without the need to sacrifice food quality. Customers have responded well and transaction numbers continue to grow.

“We have also refocused our promotional offers with simple and effective deals and updated the look and feel of our stores with new point-of-sale materials which highlight key offers and promotions,” the chief exec added.

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