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Sainsbury's same-store sales up Sainsbury's 'basics' boost sales
(about 4 hours later)
Supermarket chain Sainsbury's has said sales increased in the first three months of the year.Supermarket chain Sainsbury's has said sales increased in the first three months of the year.
It said sales in the fourth quarter of the financial year at stores open for at least a year rose 2.7%, or 6.2% excluding fuel.It said sales in the fourth quarter of the financial year at stores open for at least a year rose 2.7%, or 6.2% excluding fuel.
Sales in the 11 weeks to 21 March overall rose by 3.4%, the retailer said in a trading update. Sales of Sainsbury's cheaper "basics" products rose more than 60% as cash-strapped consumers sought bargains.
"We've delivered a strong performance in the final quarter of the year," said chief executive Justin King. Sainsbury's has also introduced campaigns such as "feed your family for a fiver".
Basics range "People are spending perhaps more money with supermarkets, perhaps a little bit less from takeaways and restaurants," chief executive Justin King told the BBC.
Sales are up more than 60% for Sainsbury's "basics" range of 550 cheaper products as cash-strapped consumers look for bargains.
Sainsbury's, the third-biggest supermarket retailer, has also introduced campaigns such as "feed your family for a fiver".
"People are spending perhaps more money with supermarkets, perhaps a little bit less from takeaways and restaurants," Mr King told the BBC.
Sales at supermarkets have held up despite the recession as competition has increased for customers.
Grocer gainsGrocer gains
Sales in the 11 weeks to 21 March overall rose by 3.4%, the the third-biggest supermarket retailer said in a trading update.
Sales at supermarkets have held up despite the recession as competition has increased for customers.
Morrisons reported a 7% increase in annual pre-tax profits to £655m and a rise of 7.9% in like-for-like sales excluding petrol on the year.Morrisons reported a 7% increase in annual pre-tax profits to £655m and a rise of 7.9% in like-for-like sales excluding petrol on the year.
The UK's fourth-biggest grocer said it was taking customers away from its more expensive rivals.The UK's fourth-biggest grocer said it was taking customers away from its more expensive rivals.
Waitrose said this month that sales for the first five weeks of 2009 increased by 5.2% to reach £4bn for the first time. Waitrose launched 11 shops last year and plans to open a further 22 this year.Waitrose said this month that sales for the first five weeks of 2009 increased by 5.2% to reach £4bn for the first time. Waitrose launched 11 shops last year and plans to open a further 22 this year.
Sainsbury's reported a 4.5% rise in like-for-like sales over the Christmas period.Sainsbury's reported a 4.5% rise in like-for-like sales over the Christmas period.
Tesco has said its sales rose 2.5% during that period.Tesco has said its sales rose 2.5% during that period.