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Sainsbury’s posts fourth quarter trading statement
J Sainsbury plc has announced its fourth quarter trading statement to 21 March 2009.
The highlights of the statement are as follows:
- Total sales for the fourth quarter are up 3.4% (6.8% excluding fuel).
- Like-for-like sales for fourth quarter are up 2.7% (6.2% excluding fuel).
- Like-for-like sales for the second half are up 3.4% (5.3% excluding fuel).
- Increased customer numbers and basket growth.
“We’ve delivered a strong performance in the final quarter of the year, with like-for-like sales, excluding fuel, up 6.2%,” said Justin King, chief executive. “Adjusting for the negative impact of the change in the rate of VAT, like-for-like sales growth in the quarter, excluding fuel, was 7.0%. Second half like-for-like sales, excluding fuel, grew by 5.3% with full-year like-for-like sales, excluding fuel, increasing by 4.5%. These sales reflect the strength and resilience of the Sainsbury’s brand, as we’ve continued to develop our offer to help customers get the best value from their household budgets.
“We expect the current economic environment to remain challenging, but our focus on delivering universal appeal through great products at fair prices means we’re well positioned to continue our good progress.”
Source: Sainsbury’s
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