10-01-2008
Sainsbury's offers optimistic sales figures
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
J Sainsbury has reported better than expected sales results. According to data released by the group, over the third quarter of 2007, like-for-like sales grew at a rate of 3.7 per cent.
The company's 3.7 per cent reported growth does not take fuel sales over this period into account.
"This is a good result for the Christmas quarter and is particularly pleasing given the level of competition during this period," said Justin King, chief executive of the group, which has a history going back to 1869. "[However,] consumer budgets are clearly under pressure and we expect the market to continue to be very competitive."
Like-for-like sales growth, including fuel, increased by a total of 5.1 per cent over the same period.
Following the announcement, shares in the group increased by four per cent during this morning's (January 10th) trading.
