Strong finish to a good year
· Total sales for fourth quarter up 4.6 per cent (5.1 per cent excluding fuel)
· Like-for-like sales for fourth quarter up 2.5 per cent (2.6 per cent excluding fuel)
· Like-for-like sales for the year up 4.5 per cent (2.1 per cent excluding fuel)
· Achieved target 7.3 per cent gross space growth in the year
· Convenience, online and non-food all growing ahead of market
Justin King, Chief Executive, said, "We delivered like-for-like sales of 2.6 per cent excluding fuel this quarter, completing a good performance for the year against a challenging backdrop. Our strategy of delivering universal customer appeal is succeeding in the current economic climate. Our unique own label ranges enable customers to save money when they need to and to treat themselves, their friends and families on special occasions. Through Brand Match, customers are increasingly aware of the great value Sainsbury's offers. They are inspired by Live Well for Less, which helps them find ways to make their money go further without compromising on quality. Our Nectar loyalty programme is a key source of customer insight, and we have signed a new long-term contract ensuring we retain this competitive advantage. We continue to outperform the market and gain market share.
