Sainsbury posts growth in H1
UK retailer Sainsbury’s posted 3.7% sales growth for H1 to GBP11.2 billion (USD18.28 billion). Like-for-like sales growth (excluding fuel) was up 5.7%. Underlying profit before tax as up 18.5% to GBP307 million (USD501.1 million) compared with the same period last year.
Non-food ranges like clothing grew around 2.5 times the rate of groceries and the retailer said weekly transactions were up 800,000 year-on-year to over 18.5 million.
Justin King, Chief Executive, said: “Sainsbury’s has continued to develop its offer to provide customers with a wide product range to suit all needs and budgets. We now have over 18.5 million weekly customer transactions, 800,000 more than this time last year. Total sales (excluding fuel) for the first half were up 7.9% and like-for-like sales were up 5.7%. Tight control on operating costs is enabling further investment in the customer offer and together with our good sales performance, has delivered further strong profit growth."
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