Sainsbury’s has recorded first-quarter like-for-like sales growth of 1.9% thanks to good spring weather, the Royal Wedding and a bumper Easter.
Total sales in the 12 weeks to 11 June rose 4.3% excluding fuel, while the retailer said its convenience and online businesses grew at 20%.
Despite declaring in March that the Royal Wedding was “not a sales opportunity in any meaningful way," chief executive Justin King revealed that the supermarket had sold nearly 300 miles of bunting, 159,000 flags and 49,000 mugs to help Brits celebrate the big day.
Sainsbury’s also had its biggest-ever childrenswear sales week during the quarter and was the number one retailer for The King’s Speech DVD, which was released on 9 May.
“We’ve delivered a solid sales performance, in line with our expectations, in spite of the continued tough consumer environment,” King added.
Sainsbury’s latest performance again trumps that of Tesco, which yesterday reported a 0.1% fall in like-for-like sales in the UK for the three months to 28 May.
Tesco blames price of petrol for latest like-for-like dip (14 June 2011)
King's pay shrinks by £5m in a year (8 June 2011)
A million more shoppers a week drive surge in Sainsbury’s profits (11 May 2011)
The royal bandwagon: what Wills and Kate's wedding means for grocery (analysis; 2 April 2011)