UK grocery retailer Sainsbury's experienced a profitable Christmas, with sales at the supermarket operator rising by 3.6 per cent during the third quarter of 2010 compared with the same period a year before.
In its third quarter trading statement for the 14 weeks to 8 January 2011, the retailer said it had achieved its “best ever” festive result, in spite of “challenging” weather conditions.
Citing figures from market researcher Kantar Worldpanel, Sainsbury's said that it grew its market share over the quarter by 0.3 per cent to 16.6 per cent, outstripping the achievements of its closest rivals during the period.
The retailer said that it also added 65,000m2 of new store space during the quarter, including nine new supermarkets and 13 new convenience outlets, along with two replacement stores, 14 extensions and 16 store refurbishments.
Chief executive Justin King said: “The business continues to perform well in a challenging consumer environment, as customers are faced with fuel and VAT increases, combined with uncertain employment prospects.
“Our universal customer appeal together with our accelerated growth plans means we are well placed to make continued good progress in 2011.”
Sainsbury's has also announced that it will create 20,000 new jobs over the next three years, which it said would be generated as part of its “ambitious expansion plans”.
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