Sainbury's fashion sees faster growth than food
Supermarket fashion may not be the type of garments that graces the pages of Vogue, but it's business is nothing to be sneered at. Sainsbury's this week revealed its general merchandise division is growing three times faster than its food business,according to the supermarket’s interim financial releases.
latest figures show the retailing giant's sales were up 4 percent. in the 28 weeks to September 29, that translates into the company earning 13.4 billion pounds. Like for like sales were up 1.7 percent.
Sainsbury’s said it had outperformed the market over this period, increasing market share to the highest point for nearly a decade at 16.7 percent.
Within clothing and general merchandise, it claimed this growth was even more significant. Although it did not split out the figures, Sainsbury’s said this division was seeing sales climb at three times the pace of its food arm.
Last month, the supermarket revealed its collaboration with TV presenter Gok Wan had been its most successful clothing tie up ever, driving the fashion division to reach 17 percent year on year growth.
Justin King, chief executive said: “We continue to succeed by remaining focused on delivering quality products, best-in-class service and value for our customers, without compromise.
“Brand Match, Nectar and our highly targeted coupon-at-till all reinforce our price competiveness. Whilst the wider economic situation remains challenging, we are well positioned to help our customers Live Well For Less.”
Images: Sainsbury's AW11 fashion