UK: Sainsbury's reports strong clothing sales
By Katie Smith | 13 June 2012
- Q1 like-for-like sales increase 1.4%
- Total sales up 3.6%
- Company posts "strongest" clothing sales
UK supermarket retailer Sainsbury's highlighted the success of its Gok for TU womenswear range as it recorded its strongest ever sales week on clothing over its first quarter, boosted by Jubilee celebrations.
It said today that like-for-like sales, excluding fuel, rose 1.4% over the 12 weeks to 9 June, while total sales increased 3.6% and 3.8% excluding fuel.
Chief executive Justin King said: "Customers continued the habit of savvy shopping to save money in order to be able to treat themselves on special occasions, shown by strong sales in the lead up to the Jubilee celebrations."
Meanwhile, the retailer continued to gain market share in its core merchandise and clothing business. "Non-food continues to grow faster than food, and the quarter saw the strongest ever sales week on clothing. In particular, the fourth collection of our Gok for TU womenswear looks set to be our most successful to date," King added.
Looking forward, Sainsbury's is confident, despite expectations that the market will remain competitive. "We remain well placed to continue to outperform the market," King said.
Sectors: Apparel, Finance, Retail
Companies: Sainsbury’s
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