Sainsbury’s booked a jump in fourth-quarter sales this morning (21 March) as its own-label proposition, marketing initiatives and expansion as a multi-channel retailer helped it gain market share.
The UK’s third-largest supermarket operator, booked an increase in like-for-like sales, excluding fuel but including VAT, of 2.6% for the ten weeks to 17 March. Total sales, including revenue from stores open for less than one-year, rose 4.6% in the quarter, the company added.
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“We continue to outperform the market and gain market share,” CEO Justin King said.
King said Sainsbury’s had benefited from its Brand Match price comparison scheme, the strength of its “unique” private label offering and growth in convenience, non-food and online sales. The company also saw sales boosted by new store openings, with space expansion “on target” at 7.3%.
For the full year, total sales rose by 4.5%, the group revealed.
“Underpinning our performance is our quality food offer. We have invested over GBP85m (US$135m) this year to make our fresh food better than ever, and this is delivering real results. Customers rate Sainsbury’s best for great tasting food,” King added.
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By GlobalDataAccording to Sainsbury’s, growth of its own-label lines “continues to lead the market” with basics sales up by about 10% and Taste the Difference sales growth of “almost” 20%.
While King said that the economic climate was likely to remain challenging, he added that Sainsbury’s expects a number of events – including celebrations to mark the Queen’s Diamond Jubilee and the London Olympics and Paralympics – presented opportunities for growth.
