Supermarket retailer Sainsbury’s this morning unveiled a 4.3% increase in sales and said its underlying profit before tax had grown by 6.6% to £354m.
In its intermin management statement the company said it had been aided by its new ‘live well for less’ campaign and a previous ‘feed a family of four for £50’ initiative.
The company said these two moves had helped it to increase the amount of customers at its stores.
Like-for-like sales excluding fuel, the industry benchmark for supermarkets, increased 1.9% and the retailer said the number of weekly transactions increased by 1m to 22m,
Justin King, chief executive, said: “Our further good sales growth reflects our continued hard work to help our customers cope with the tough economic environment.
“They are recognising the efforts we are making to help them manage their budgets and to ‘Live Well For Less’. This is reflected in customer visits, with transactions up almost one million on last year, to nearly 22 million a week. We continue to apply a tight control on costs, achieving £50 million savings so far this year. Combined with our strong sales this has helped us to grow profits, with underlying operating profit up seven per cent.”