Sainsbury's and sales boost

Sainsbury’s sales have risen 1.4% as a direct result of the diamond jubilee, the retailer has announced. This will come as excellent news for the company, as its main rival Tesco announced a 1.5% fall in sales for the same period.

Sainsbury's saw 24m customer transactions - about 2m more than normal - in the week of the Jubilee and sold 550 miles of bunting, 670,000 Union Flags and more than 600,000 bottles of Champagne and sparkling wine.

Sainsbury's also recorded its strongest ever week for clothing sales in the 12 weeks to June 9, as non-food continues to outperform the food sector.

Sainsbury's convenience stores also continue to perform well and are a strong driver of growth for the business and create employment. Sales at the convenience stores rose 16pc and 21 new stores have already been opened in 2012, with more planned for later in the year.

Abintegro
June 12