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14/01/2002
Sainsbury’s reveals continued upsurge in sales
Supermarket retail chain Sainsbury has reported an increase in sales for the fourth consecutive quarter, as the company continues to attempt to win back market share from their competitor Tesco.
The group revealed a 6.4 per cent increase in sales (excluding petrol) in the 12 weeks preceding 5 January, with sales peaking at 6.8 per cent during the Christmas and New Year period.
Announcing the news, Sainsbury chief executive Sir Peter Davis said that the figures represented “a very significant improvement” on the total achieved during the same three quarters of last year.
He added: This is the fourth quarter of increasingly strong like-for-like sales growth in the UK and the third consecutive quarter of like-for-like sales of 6.0 per cent or more.”
The news comes as a welcome boost to Sainsbury’s, who are currently implementing a three-year strategy to win back market share. Once known as the UK’s largest retailer, Sainsbury lost the lead to Tesco in 1995.
The supermarket chain has since embarked on a number of initiatives to win back shoppers, including an extensive store refurbishment programme, and the forging of a joint venture with The Boots Company that could see the latter becoming a store within a store at Sainsbury outlets. (CL)
The group revealed a 6.4 per cent increase in sales (excluding petrol) in the 12 weeks preceding 5 January, with sales peaking at 6.8 per cent during the Christmas and New Year period.
Announcing the news, Sainsbury chief executive Sir Peter Davis said that the figures represented “a very significant improvement” on the total achieved during the same three quarters of last year.
He added: This is the fourth quarter of increasingly strong like-for-like sales growth in the UK and the third consecutive quarter of like-for-like sales of 6.0 per cent or more.”
The news comes as a welcome boost to Sainsbury’s, who are currently implementing a three-year strategy to win back market share. Once known as the UK’s largest retailer, Sainsbury lost the lead to Tesco in 1995.
The supermarket chain has since embarked on a number of initiatives to win back shoppers, including an extensive store refurbishment programme, and the forging of a joint venture with The Boots Company that could see the latter becoming a store within a store at Sainsbury outlets. (CL)
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