Sainsbury’s has said that total sales in the second quarter grew by 8.4%, with like-for-like sales seeing growth of 7.5%.
Excluding fuel, like-for-like sales in the 16 weeks until 4 October jumped by 4.3% and in total without fuel rose by 5.3%, the supermarket revealed. Like-for-like sales for the first half of the year are up by 7.4%.
Chief executive Justin King claimed that the retailer’s emphasis on own label products has helped to sustain its popularity.
According to King, consumers are turning down more expensive alternatives at a time when they have to stick to tighter budgets.
He said: “During the quarter we continued to develop our offer to help customers manage tighter budgets without the need to sacrifice food quality. Customers have responded well and transaction numbers continue to grow.
“Customers are cooking more for themselves and our successful ‘Feed your Family for a Fiver’ advertising campaign helps customers find great value, whilst maintaining food quality.”
The company’s own label Basics range now extends to 550 products, King added, while he said that the Switch and Save promotion has enabled shoppers to see the benefits of seeking out cheaper groceries.
He concluded: “The economic environment remains particularly challenging and we expect this to continue throughout the second half, but we have developed the Sainsbury’s offer to perform in these conditions.”
Analysts had predicted earlier this week that Sainsbury’s would have been hit by discount retailers, along with Morrisons and Tesco.
Marks and Spencer recently revealed that food sales at its stores in the second quarter dropped by 5.9%.
