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Sainsbury’s good performance grows market share

The company’s second quarter trading statement for 16 weeks to 2 October 2010 shows total sales and like-for-like sales up

CITY & CORPORATE

Sainsbury’s good performance grows market share

 

Total sales for the second quarter were up 6.6 per cent (5.2 per cent excluding fuel) and like-for-like sales up 4.3 per cent (2.9 per cent excluding fuel).

Total sales for first half up 7.0 per cent (4.8 per cent excluding fuel) and like-for-like sales for first half up 4.4 per cent (2.0 per cent excluding fuel).

Justin King, Chief Executive, said, "We've delivered another strong performance and grown market share. New space has continued to perform ahead of our expectations delivering a further 2.3 per cent contribution to sales growth (excluding fuel). Fuel price inflation has continued to act as a pressure on household budgets with total sales including fuel up 6.6 per cent.

Customer response to the relaunch of our £1 billion Taste the Difference brand in September has been fantastic. Our complementary non-food offer continues to perform well, growing at three times the rate of food.

Our space growth plans continue apace and we opened 7 supermarkets, 12 convenience stores and completed 7 extensions - in total adding 460,000 sq ft of new space to our store estate We are pleased with our progress in the first half of the financial year.

We expect the consumer environment to remain challenging and will continue to work hard to deliver universal appeal through providing great value, great quality products to our customers. Our accelerated growth strategy is providing access to Sainsbury's winning offer to ever more customers and we are well placed to make continued good progress."

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