Trading exceeds expectations
Supermarket giant Sainsbury's reported its fifth consecutive quarter of like-for-like sales growth, in its fourth-quarter trading update today.

Like-for-like sales excluding petrol were up 5.3 per cent for the 12 weeks to March 25. Total sales rose 6.5 per cent for the same period. Analysts had predicted 3.8 per cent growth.

The retailer also announced that it had attracted an extra 1 million customers to its stores over the period, or more than 16 million shoppers a week.

Sainsbury's chief executive Justin King said: 'This has been a significant quarter for Sainsbury's. This is an important stage in our recovery and we are pleased that our progress is also confirmed by good market share growth. We have delivered a solid first year and are well on track in our Making Sainsbury's Great Again plan but still have a long way to go.'

Sainsbury's will announce its preliminary results for the year ending March 25 on May 17.