Sainsbury's has reported the first quarter trading results showing a sales uplift of 2.7% (excl. fuel), and a like-for-like sales rise of 2.3% (excl. fuel). The supermarket giant's grocery sales increased by 3% and it saw transaction growth of 1.9%.
The company launched 430 new and improved products in the quarter including over 250 new Summer eating lines, and launched 43 new or improved meals within its Just Cook range.
During the period, Sainsbury's opened one supermarket and ten convenience stores, including one EuroGarages franchise store.
Sainsbury's is on track to achieve £145m of cost savings this year, delivering on its three-year target of £500m.
Mike Coupe, Group Chief Executive, (pictured) said, “We have delivered a strong performance, driven by our differentiated strategy, offering customers quality, value and choice across food, general merchandise, clothing and financial services. Grocery sales are up three per cent and transactions up two per cent, with like-for-like transaction growth in all channels.
'We have seen strong food sales where we have invested in product innovation, such as our new Summer eating ranges. Our Produce category, where we know quality matters most to customers, performed particularly well, outperforming the market4 with volume growth of over one per cent.'
He continued, “Customers recognise that we offer a leading combination of quality and value and we have worked with suppliers to improve our price position versus competitors5. We are proud of the service our colleagues give customers day in day out and were delighted to have been recognised for best service and availability for the fifth year in a row.
“Groceries Online sales grew by eight per cent and Convenience delivered strong growth of ten per cent, in line with our strategy of being there for customers whenever and wherever they want to shop.'
Coupe concluded, “The market is competitive and we continue to manage cost price pressures closely. Our strategy is delivering and we are well placed to navigate the external environment.”