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    Sainsbury registers 4.7 per cent growth

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    The third-quarter sales of UK’s third-largest grocer, Sainsbury, registered a growth of 4.7 per cent, but cautioned that the retail environment would remain competitive.

    The report released by the company read: like-for-like sales, excluding fuel, were up by 3.7 per cent for three months upto December 29, bringing some relief to retail sector in Britain as its rival Marks & Spencer reported falling quarterly food sales.

    “This is a good result for the Christmas quarter, and is particularly pleasing given the level of competition during this period,” Sainsbury Chief Executive Justin King said.

    “Consumer budgets are clearly under pressure and we expect the market to continue to be competitive. We have made improvement in business during our recovery means, and are well equipped to perform in this challenging environment,” King added.