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07/10/2005
Sainsbury’s announce sales boost
Supermarket chain Sainsbury’s has announced an increase in sales in its quarterly figures.
The firm, which is the third biggest supermarket chain in the UK behind Tesco and Asda, announced that sales had risen by 2.8% during the past 16 weeks, excluding petrol sales.
The group also reported that same-store sales also rose by 4.1% in the second quarter, in spite of continued price cuts.
Sainsbury’s, which was once Britain’s top supermarket chain, has reduced prices over the last year, in order to gain market share from main rivals, Tesco and Asda. Chief Executive Justin King introduced the price cuts as part of a three-year business recovery plan, announced last October.
Last month, Sainsbury’s also launched an extensive re-branding campaign. A new slogan, ‘Try something new today’, was launched, although celebrity chef Jamie Oliver still remains as the focal point of the supermarket’s advertising campaign.
Mr King said that the figures showed that his business recovery plan was “on track” and said that that investment into the price, quality and availability of the company’s products would continue.
However, Sainsbury’s also revealed that its banking division would post a “small loss” for the first half of the year, due to an increase in provision for bad and doubtful debts.
(KMcA/GB)
The firm, which is the third biggest supermarket chain in the UK behind Tesco and Asda, announced that sales had risen by 2.8% during the past 16 weeks, excluding petrol sales.
The group also reported that same-store sales also rose by 4.1% in the second quarter, in spite of continued price cuts.
Sainsbury’s, which was once Britain’s top supermarket chain, has reduced prices over the last year, in order to gain market share from main rivals, Tesco and Asda. Chief Executive Justin King introduced the price cuts as part of a three-year business recovery plan, announced last October.
Last month, Sainsbury’s also launched an extensive re-branding campaign. A new slogan, ‘Try something new today’, was launched, although celebrity chef Jamie Oliver still remains as the focal point of the supermarket’s advertising campaign.
Mr King said that the figures showed that his business recovery plan was “on track” and said that that investment into the price, quality and availability of the company’s products would continue.
However, Sainsbury’s also revealed that its banking division would post a “small loss” for the first half of the year, due to an increase in provision for bad and doubtful debts.
(KMcA/GB)
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