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June 16, 2010    

Like-for-like sales grow 1.1% at Sainsbury’s

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by Kay Murchie
”Like-for-like

Supermarket giant Sainsbury’s announced today that it continues to see sales growth but at a slower rate.

Britain’s third largest supermarket said like-for-like sales (which excludes new store openings) rose by 1.1% in the 12 week period to 12 June, excluding petrol.

The rise represents the smallest in quarterly sales for five years - primarily due to low food price inflation and rising fuel costs, which has resulted in shoppers to cutting back on groceries.

Sainsbury’s figures come just a day after Tesco revealed similar quarterly growth. Tesco noted that the global economic recovery was well underway but joins other retailers saying the environment remains challenging.

Sainsbury, which runs more than 500 supermarkets and 300 convenience stores, said total sales grew by 4.4% excluding fuel.

According to chief executive, Justin King, the figures represented “another good performance”.

Sainsbury’s recently said it is bringing in a million more customers a week. The chain has benefited from the economic downturn after luring customers away from upmarket chains such as Marks and Spencer and Waitrose as cash-strapped consumers looked to save money.

Furthermore, bargain hunters have been opting for the supermarket’s ‘basics’ range which has boosted sales at the group.

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