Strong grocery sales put Sainsbury's back on track to beat profit targets

The UK's second largest grocer said robust sales offset the impact of "higher operating cost inflation" and investment into the business.

It reported that sales for the latest quarter to January 8 dipped by 1.1 per cent against the same period last year, but was 6.6 per cent higher than pre-pandemic levels.

The company was buoyed by sales over the Christmas period, with sales increasing by 0.1 per cent year-on-year over the six weeks to January 8.

Simon Roberts, chief executive of Sainsbury's, said: "I am really pleased with how we delivered for customers this Christmas.

"More people ate at home and our significant investment in value, innovation and service led to market share growth.

"At the same time, we are pleased to increase profit guidance for the full year.

"The backdrop was challenging and our teams worked hard throughout the year to make sure we had all of the products everyone wanted.

"Our suppliers did a great job in challenging conditions throughout the quarter and I thank them for all their support for our business."

---

Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson