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Sainsbury boasts record Christmas trading performance during strong third quarter

In its third quarter trading statement for the 13 weeks to January 2 2010, UK supermarket giant Sainsbury (LSE: SRBY) revealed a company record Christmas trading performance which helped drive strong total sales growth of 6.2%. In the seven days leading up to Christmas the FTSE100 retailer served a record 24 million customers.

Overall the supermarket retailer achieved a 3.8% increase in like-for-like sales during the quarter, reflecting a 4.2% increase excluding fuel and VAT. Online grocery sales grew by 15%in the quarter, delivering a record half million online orders over the four key trading weeks before Christmas. 

“Our strategy of delivering great food at fair prices has resulted in a record Christmas performance, completing a strong third quarter on top of good growth last year” Sainsbury Chief Executive Justin King commented, “While food price inflation eased in the quarter as expected, a winning combination of more customers, enjoying even better products and prices through more stores delivered total sales growth of 6.2 per cent.”

According to Sainsbury it is well placed to make continued good progress in 2010 as it continues to perform well in what remains a challenging consumer environment.

Disclosure: The author holds no positions in the company