UK: Sainsbury's reports 2.1% annual sales increase
Sainsbury’s chief executive Justin King said: “We have delivered strong sales in the fourth quarter, increasing market share and outperforming in what remains a tough retail environment. Over the quarter, we grew customer transactions to 22.9m per week, serving more customers than ever.
“Our multi-channel strategy continues to enable customers to shop when and how they want. Our convenience business is growing at over 18% year-on-year, driven by a combination of new space and strong like-for-like sales growth. Groceries online increased sales by nearly 20% year on year.
“Our general merchandise and clothing business is growing at nearly three times the rate of food. In February, we reached the milestone of £1bn annual sales from general merchandise, reflecting the investment we have made in the quality of our offer. We saw our best ever January sale, with sales up 19% year-on-year, and we have continued to see strong growth in clothing at nearly 20% year on year, and home accessories nearly 25% year on year.
“Over the full year, we have added 14 supermarkets, eight extensions and 87 convenience stores, bringing our total gross new space to just over 1 million square feet, an increase of approximately 5%, in line with our target.
“We expect the challenging economic environment to continue through the coming year. By helping our customers to live well for less through our ongoing commitment to great quality own-brand products, brand match, competitive pricing and targeted promotions via Nectar and coupon-at-till, we are well positioned to continue to outperform the market.”
Source: Sainsburys
