J. Sainsbury comparable sales up 4.2%
MADRID (MarketWatch) — U.K. grocer J. Sainsbury PLC on Wednesday reported a 4.2% rise in comparable sales for the fourth quarter, a 1% gain excluding fuel, in an interim statement. Total sales for the quarter rose 6.8%, a 3.5% rise excluding fuel, while non-food sales grew at over three times the rate of food. Sainsbury said it attracted a record 21 million customers, a 1 million gain on the prior year. The company said it expects the consumer environment to remain difficult, owing to fuel price inflation, unemployment concerns and government spending cuts. The company said that it remains well-positioned for further growth in 2011/12.
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