British supermarket group Sainsbury's forecast full-year profit towards the upper end of its guided range as a better-than-expected performance in general merchandise drove a 5.9% rise in underlying sales for the Christmas quarter.
showing Britain's grocers performed relatively strongly in the Christmas quarter, likely gaining share of overall spend from non-food retailers.
"Investment in value, innovation, service and product availability delivered stronger volume trends across grocery and general merchandise, particularly at Christmas," CEO Simon Roberts said. "Customers shopped early, buying Christmas treats and fizz more than once and looked for deals, taking advantage of Black Friday and other seasonal offers," said Roberts.
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