UK: Own label growth boosts Sainsbury's H1 sales
- H1 like-for-like sales up 1.7%
- Total first-half sales climb 4%
- Q2 like-for-like sales grow 1.9%
- Total Q2 sales increase 4.4%
Sainsbury's opened 49 convenience stores in the first-half
Sainsbury's has booked an increase in first-half sales driven by own label growth and the roll out of its convenience stores.
Like-for-like sales excluding fuel in the 16 weeks to 29 September were up 1.7%, the UK retailer reported this morning (3 October).
Total sales, which includes income from shops that had not been opened by this time last year, were up over the same period by 4%, or 4.1% excluding fuel.
Chief executive Justin King said Sainsbury's had outperformed the market during a "unique and special summer" and a period of "unseasonal weather".
The retailer said own label penetration is "increasing at a faster rate than any of the major supermarkets".
Sainsbury's opened 49 convenience stores in the first-half, reaching its target of one to two per week.
The group's online business, it said, "continues to perform strongly" with growth of over 20% year-on-year.
In the second quarter, like-for-like sales, excluding fuel, climbed 1.9%, while total sales were up 4.4%.
Sainsbury's share price rose 1.9% to 348 pence at 09:20 BST.
Sainsbury's today (9 January) reported that third-quarter like-for-like sales, excluding fuel, came in at 0.9%. While this represents a slow-down from the company's previous 31 consecutive quarters of...
- just-food's pick: Innovation on show at ISM 2016
- Mondelez results and outlook - 7 things to learn
- What are the implications of Brexit for UK food?
- Richelieu Foods CEO eyes growth - interview
- Foodservice focus: McDonald's/Five Guys/Starbucks
- Chobani targets growth after rejecting offers
- Mars to cut artificial colours from global foods
- Private-equity firm HKW acquires Panos Brands
- PepsiCo's Nooyi: "macro challenges" will continue
- WWF launches food security platform