Sainsbury's posts solid Q4 sales as online and convenience sales rise

SUPERMARKET Sainsbury’s posted forecast-beating fourth quarter like for like sales this morning, as it was boosted by strong growth online and in its convenience stores.

Sales in stores open longer than a year rose 4.2 per cent in the 10 weeks to 16 March, the 33rd consecutive quarter of underlying sales growth. Total sales in the fourth quarter rose 6.3 per cent, excluding fuel.

The convenience business grew at a rate of more than 18 per cent year on year, Sainsbury’s said, with online grocery sales up almost 20 per cent year on year.

Chief executive Justin King said Sainsbury’s was “well positioned to continue to outperform the market” for the coming year.