Sainsbury's price cuts pay off

Sainsbury's discount fashion brand Tu have seen competitive price cuts in the past quarter, which paid off as the company saw "exceptionally" strong sales over Christmas, according to head of clothing Richard Jones. Prices across the Tu autumn range were cut by between 10 per cent and 20 per cent. Star performers included £10 ballet wrap cardigans, and a £30 faux sheepskin jacket.

Sainsbury's group like-for-like sales grew 5 per cent for the 12 weeks to December 31st.