Sainsbury's hails 'good sales performance'
Wednesday 05 October 2011
Tesco's major rival Sainsbury's hailed a "good sales performance" today after enjoying success in fashion and in its convenience stores.
The group's like-for-like sales were up 1.9% excluding fuel in the quarter to October 1, although unlike Tesco its figures include VAT.
Chief executive Justin King said general merchandise and clothing continued to do well, with sales "well ahead" of the main grocery business.
In line with the consumer trend for local shopping, its convenience stores business continued to grow at a rate of 20%, with like-for-like sales stronger than in its supermarkets. Its 400th convenience store at Wolverhampton was one of 24 such outlets opened by Sainsbury's in the quarter.
Sainsbury's has responded to pressure on household finances by launching its "Live Well for Less" promotion and said 3,000 new or improved lines were in store under its "by Sainsbury's" own label range.
Mr King said: "We expect the market environment to remain very competitive for the foreseeable future but we are confident in our ability to grow by doing a great job for our customers."
Sainsbury's will be eyeing a further boost to its clothing sales with the launch of a number of collections created by television presenter and fashion consultant Gok Wan under the Gok for TU brand.
His debut womenswear collection will be launched in 200 stores on Thursday, featuring 13 styles with prices starting from £20.
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered
- 3 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Benefits 'smart cards' plan revealed by Iain Duncan Smith to stop claimants spending welfare money on alcohol
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...