Sainsbury’s has seen a first-quarter like-for-like sales growth of 1.4%. The period included the extended Jubilee bank holiday, and the retailer said sales had been “strong” in the build-up to the long weekend.
“Customers continued the habit of savvy shopping to save money in order to be able to treat themselves on special occasions,” said chief executive Justin King.
Sainsbury’s opened 21 c-stores during the period and refurbished eight stores. The retailer’s convenience estate increased sales growth by 16%, with online growth by over 20%.
The retailer remarked, “Universal appeal, supported by market leading own label ranges, Brand Match and loyalty insight, ensures we help our customers to ‘Live Well for Less’. We remain well placed to continue to outperform the market.”
The performance comes in contrast to Tesco, which earlier this week reported a 1.5% drop in first-quarter like-for-like sales. However, Tesco’s results – for the 13 weeks to 26 May – did not include the Jubilee bank holiday.
Its positive to see how such a prestigious national event can have positive impacts in contrast to the lost days of work, with the European Cup Final and Olympic games can the sector continue to benefit?