UK retailer Sainsbury’s has recorded an increase in like-for-like sales over the last ten weeks, helped by strong growth in online and convenience.
The grocer said today (19 March) it managed to deliver “strong” like-for-like sales growth of 4.2%, excluding fuel, in the period to 16 March, increasing market share and outperforming in what it said remains a tough retail environment.
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Sainsbury said its convenience business is growing at over 18% year-on-year, driven by a combination of new space and strong like-for-like sales growth. Online grocery sales increased nearly 20% year-on-year.
The retailer also benefited from the success of its Brand Match pricing initiative, competitive pricing, own-brand sales growth and a push into non-food areas such as clothing, which it said is growing at nearly three times the rate of food.
Sainsbury’s total sales in the quarter climbed 6.3%, excluding fuel.
Chief executive Justin King, said: “We expect the challenging economic environment to continue through the coming year … we are well positioned to continue to outperform the market.”
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By GlobalData
