Sainsbury’s achieves highest market share for almost a decade

Sainsbury’s saw turnover up 4.1% (excluding fuel) for the 28 weeks to 29 September 2012, while like-for-like sales increased 1.7%.

Underlying profit before tax stood at £373m, up 5.4% on the comparable period last year.

During the period, Sainsbury’s increased its market share to 16.7% – its highest for nearly a decade, following 31 consecutive quarters of like-for-like sales growth.

Continued growth in online and the expansion of its convenience store business were cited as key to the retailer’s growth.

Among its strategy highlights, the supermarket noted the continued investment and growth in its own-brand food range, with penetration increasing at a faster rate than any other supermarket, it claimed.

It is currently 85% of the way through the relaunch of its core ‘By Sainsbury’s’ range, which will see 6,500 new or improved products introduced to stores by April 2013.

Justin King, chief executive, said: “Our long-standing consistent strategy, combined with our customer insight and strong value-driven culture, will continue to deliver for customers, colleagues and shareholders.”

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