British retailer Sainsbury’s posted its 2012 results, delivering a solid performance for the full year. Like-for-like sales increased 2.1 per cent (excluding fuel) to £24,511 million. Underlying operating profit saw a 6.9 per cent hike to £789 million, while underlying pre-tax profits totalled £712 million, a 7.1 per cent rise.
During the year the retailer expanded its store network, adding 14 supermarkets and 87 convenience stores, increasing sales space by some 5 per cent.
Acknowledging the difficulties posed by the economic downturn, chief executive Justin King said, “Succeeding and growing market share in this environment requires better customer understanding than ever. Through our Nectar loyalty scheme we have a wealth of data about our customers’ behaviour. We combine this with listening and engaging customers, across a broad range of channels,to create real insight.” (19 March)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor
