UK Grocer Sainsbury’s Has Record Quarter
British supermarket retailer Sainsbury’s has seen a growth in sales of over 6% in the first quarter of 2009 – the best spike in sales they’ve seen in ten years. Consumers seem to have switched from branded goods to their ‘value’ offering. The FT gives a little more insight:
Justin King, who next week celebrates five years as chief executive of Britain’s third largest supermarket chain, said he had achieved the growth by poaching shoppers from rivals and getting them to spend more.