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Sainsbury's finally on the up...

Sainsbury's finally on the up again

25 Mar 2005
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Sainsbury's 1.7% rise comes as competitor Wm Morrison loses ground.

25/03/05 The UK’s third largest supermarket, Sainsbury’s has reported its first rise in underlying quarterly sales in more than two years. The group announced a 17 per cent rise in like-for-like sales over the past three months, excluding petrol, buoyed by extra sales linked to Valentine’s Day, Mother’s Day and the comic relief campaign.

Sainsbury’s is recovering from years of underperformance, when it has lost ground on lower price rivals Tesco and Asda. The news came as Sainsbury’s direct competitor Wm Morrison reported a 1.2 per cent drop in sales during the six weeks to March 13. According to Chief Executive Justin King, Sainsbury has gained customers from the former Safeway stores following their takeover from Wm Morrison Supermarkets last year.

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