UK grocer Sainsbury’s has reported that its total sales rose 5.6 per cent to £22.3 billion (excl. VAT) for the year ended March 17. Convenience is now worth £1.3 billion to the company. The retailer’s online revenue increased by 20 per cent to £800 million; this activity was aided by its ‘Click & Collect’ service being rolled out to more than 900 stores. A rise in demand for private label products meant its Basics range experienced a 6.8 per cent rise in sales. The ‘Taste the Difference’ premium range saw an 8.2% increase in sales. “We are succeeding by understanding what our customers want, supporting and inspiring them to Live Well For Less. Delivering quality and value is a compelling offer, in tune with what today’s savvy shoppers want,” said CEO Justin King. “Whilst the wider economic situation remains uncertain, we remain confident that our clear strategy, market insight and strong values will enable us to make further progress both in our core food and non-food businesses, as well as new channels and services in the year ahead".
Sainsbury’s market share now stands at 16.6 per cent. (9 May) © 2012 ESM: European Supermarket Magazine
