Sainsbury hails record Christmas

Sainsbury enjoyed record-breaking Christmas trading as it increased its market share in the last three months of 2012.

Sainsbury enjoyed record-breaking Christmas trading as it increased its market share in the last three months of 2012.

But the firm warned the celebrations would probably not last into the new year.

"We expect the challenging economic backdrop to persist, with customers looking to re-balance their household budget after the festivities and so spending cautiously in the first few months of 2013," said Chief Executive Justin King.

Like-for-like sales excluding fuel were up 0.9% in the 14 weeks to January 5th, while total sales were up 3.3% (excluding fuel).

The week before Christmas was the supermarket's strongest trading week ever, with customer transactions of over 27m.

The company made a record breaking £16m of sales in one hour between 12pm and 1pm on Sunday 23rd December.

It also enjoyed its best ever Christmas Eve, at both its supermarket and convenience stores, with over £100m of sales.

But savvy customers also redeemed a record level of loyalty promotions over the Christmas period, with 22bn Nectar points worth over £110m redeemed.

The supermarket said its convenience stores had grown 17%, while online business grew 15%.

Its general merchandise and clothing ranges continued to grow at a faster rate than food, taking market share from rivals in the non-food arena.

Clothing performed particularly well, Sainsbury's said, growing at over 10% year-on-year.

Small electricals, such as toasters and kettles, rose 24% year-on-year, and cookware, grew at nearly 15% year-on-year.

Recommended

Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
These 3 top value stocks offer
Share tips

These 3 top value stocks offer

Professional investor Adam Rackley of Cape Wrath Capital highlights three overlooked value stocks to buy.
29 Sep 2022
Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022

Most Popular

What to do as the age of cheap money and overpriced equities ends
Investment strategy

What to do as the age of cheap money and overpriced equities ends

The age of cheap money, overpriced equities and negative interest rates is over. The great bond bull market is over. All this means you will be losin…
29 Sep 2022
Why everyone is over-reacting to the mini-Budget
Budget

Why everyone is over-reacting to the mini-Budget

Most analyses of the chancellor’s mini-Budget speech have failed to grasp its purpose and significance, says Max King
29 Sep 2022
Mini-Budget: will Kwasi Kwarteng’s gamble on growth work?
Budget

Mini-Budget: will Kwasi Kwarteng’s gamble on growth work?

The government has launched the biggest dash for growth in 50 years, relaunching an approach known as supply-side economics. What is the plan – and wi…
30 Sep 2022