Sainsbury’s announces record Christmas sales

Sainsbury’s has announced record Christmas sales and predicts profits for the year will come at the upper end of previous predictions.

Sales at the supermarket jumped seven per cent, boosting its third quarter performance where sales rose almost six per cent compared to the same period the previous year.

Sainsbury’s now expects profits to be towards the upper end of its guidance of between £630-690 million.

The supermarket attributed the increased sales to the football world cup, people hosting larger gatherings again after the pandemic and customers treating themselves over the festive season.

Growth areas included its own brand range, where sales grew by ten per cent.

Commenting on the news Simon Roberts, chief executive of J Sainsbury plc, said: “We prioritised keeping our prices low and giving our customers great value at Christmas.

“We understand money will be exceptionally tight this year particularly as many people wait for Christmas bills to land. We are working together with our suppliers to battle cost inflation and we’re keeping prices low again this year.”

Other supermarkets have also announced better than expected results over the festive season. Sales at Lidl jumped by 25 per cent while sales at Aldi reached £1.4 billion during December.

Sainsbury’s recently announced it would increase the pay of its employees to at least £11 per hour and bringing forward its annual pay rise to February 2023. The company is investing a total of £205 million and hopes the pay rise will help employees with the rising cost-of-living.

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