LONDON - Sainsbury's has announced sales increases in the first three months of year as consumers spend less eating out.
Sales in the fourth quarter of the financial year rose by 2.7%, or 6.2% excluding fuel for stores open for at least one year. The retailer also said that sales are up more than 60% for Sainsbury's "basics" range of 550 cheaper products.
Chief Executive Justin King said that consumers were spending more in supermarkets and less on takeaways and eating out.
Sainsbury's reported a 4.5% rise in like-for-like sales over the Christmas period with Tesco sales increasing by 2.5% during the same period.
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