Page last updated at 06:33 GMT, Wednesday, 18 June 2008 07:33 UK

Sales growth slows at Sainsbury's

Sainsbury's
Sainsbury's serves 18 million customers a week

Sales growth has slowed at supermarket chain Sainsbury's in the past three months as the firm experienced a "challenging economic environment".

Like-for-like sales excluding fuel were up 3.4% in the 12 weeks to 14 June, compared with a 4.1% increase in the previous three months.

The retailer said it was seeing strong sales growth in its expanded, lower-cost basics range.

Sainsbury's online sales operation continued to grow, with sales up 40%.

Including fuel, like-for-like sales were up 7.3% because of the rising price of petrol and diesel.

"Whilst we anticipate that the environment will remain challenging, we operate from a strong financial position," said chief executive Justin King.

Last month, Sainsbury's reported a 28% rise in underlying profits to 488m for the 2007 financial year.




SEE ALSO
Sainsbury's annual profits up 28%
14 May 08 |  Business
Sainsbury's reports rise in sales
10 Jan 08 |  Business
Sainsbury's enjoys jump in profit
14 Nov 07 |  Business

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