UK: Sainsbury's records 2.6% like for like increase
The grocer said total sales rose 5.1% excluding fuel for the 10 weeks to March 17.
Sainsbury’s said like-for-like sales for the year to March 17 rose 4.5% and it has achieved its 7.3% gross space growth.
Sainsbury’s chief executive Justin King said the retailer’s strategy of "delivering universal customer appeal" had paid off in a tough economic climate.
Sainsbury’s invested £85m in its fresh food offer this year as the category increasingly becomes the key battleground in competition between the big four grocers.
Sales of its own label Basics range grew by 10% and Taste the Difference grew by almost 20% in the quarter.
The retailer said its convenience business, Sainsbury’s Local, is growing at a rate of over 20% driven by a combination of new space and strong like-for-like sales growth.
Sainsbury’s said it is the fastest growing online grocer with sales growth over 20% and that its non-food business is growing "ahead of the market".
