UK: Sainsbury's report a positive year despite difficult retail climate
Justin King, Chief Executive said in a statement on the website: “Our share of the grocery market is the highest for a decade at 16.8% following 35 consecutive quarters of like-for-like sales growth. Whilst customers' budgets remain tight and any recovery in the economy may take time to take effect, our consistent strategy and strong values-driven culture mean we are well placed to continue to deliver for customers, colleagues and shareholders.”
Sainsbury's has also been rewarded for their achievements this year. They received awards for customer service levels by winning 15 out of the 28 grocer awards, along with 33 for Service and Availability. This is to add to their 6th (during the span of eight years) Supermarket of the Year award, 4th consecutive win as Convenience Chain of the Year, Grocer Gold Awards, National Business Awards and FTSE 100 Business of the Year.
One of Sainsbury's strategies for this year has been to focus on their in-house brand, which has been growing at over twice the rate of branded goods. They have relaunched their 'Taste the Difference' line which has shown double-digit growth.
They have also been in line with other grocery retailers in shifting focus to online sales. Online grocery sales have been growing at 15%, with over £1 billion in annualised sales and orders regularly exceeding 180,000 a week. In response, plans have been announced for an online fulfilment centre at Bromley-by Bow.