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Sainsbury’s has more people buying in the aisles

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28/03/2007

The recovery at Sainsbury’s is gathering pace as the latest sales figures show the rate of improvement at the store is continuing to deliver on its targets, and the firm as a whole is responding to the UK investment being made into it.

Like-for-like sales, which strip out the effect of new store openings, grew 5.9% in the 12 weeks to 24th March. Sales including fuel grew 4.9%.

The company is now into its final year of a three-year recovery plan, which has seen many stores refurbished. The trading update said that these were doing well, with a 50% growth in the sales of Fair Trade products. Healthy eating products had also performed well after Christmas.

Last month a consortium of private equity firms said it was considering making a bid for Sainsbury’s, with many analysts valuing the retailer at around £10bn.

“It’s far from certain that the board would accept such an offer and the bid has to be made by April 13th at the latest,” said retail analyst Debbie Harrison.

Of the latest sales figures chief executive Justin King said: “We have now completed the second year of our Making Sainsbury’s Great Again recovery plan and have delivered strong sales growth in our fourth quarter, the ninth consecutive quarter of growth.”

 

 

 

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