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UK: SAINSBURY posts 6.2% rise in like-for-like sales in Q4 (Progressive 06/04/2009)

UK retailer Sainsbury reported a 6.2% rise in like-for-like sales for its fourth quarter, bolstered by consumer demand for less-expensive groceries during the economic downturn. Sainsbury’s attributed the rise to the migration of some shoppers from upscale grocers Waitrose and Marks & Spencer. Total sales for the fourth quarter were up 6.8% excluding fuel. Chief Executive Justin King said: "We expect the current economic environment to remain challenging but our focus on delivering universal appeal through great products at fair prices means we are well positioned to continue our good progress."

 

 

 

 

 

 
 

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