Sainsbury's recorded pretax profits of £354 million in the six months to October 1st, up 6.6 per cent from £332 million in the same period last year. Total sales were up 7.6 per cent.
Last month Sainsbury’s introduced a price-matching campaign in response to Tesco’s Big Price Drop promotion. Since the results period the grocer has also been competitive in the ongoing toy price-war, offering half-price on selected lines.
Looking to Q4, John Rogers, Sainsbury’s chief financial officer told Bloomberg : “We’re very much looking forward to the Christmas period. Traditionally we perform very well - last year we had a fantastic Christmas and we hope to repeat that performance this coming year.”
Non-food sales grew over 'three times faster' than food sales with certain categories growing more than 20 per cent.
This year the UK's third-largest supermarket has expanded its ‘Click and Collect’ service to 160 stores and said that one third of all online orders made use of the service.
In the past two years Sainsbury’s has opened 59 new stores while expanding 37 existing locations.