Antaletriangle
01-09-2009, 11:56 AM
http://www.citywire.co.uk/professional/-/news/shares-news/content.aspx?ID=325482
A plc swimming against the tide.
By Nicholas Paler | 09:00:37 | 08 January 2009
Bucking the trend seen at rival stores, Sainsbury's today said it would look to create between 3,000 and 4,000 jobs next year in the wake of a record Christmas trading period and a surge in like for like sales throughout the last quarter.
Having reported sales on a like for like basis had climbed 4.5% (excluding fuel) in the last 13 weeks to 3 January, including a record Christmas performance during which it recorded its busiest ever day's trading on 23 December, Sainsburys said it intended to employ additional staff in the new year as it looked to expand a number of its stores.
Chief executive Justin King said the chain expected to create 'between 3 and 4,000 jobs next year' as it expands its floor space by around 3-4%.
It also said it expected the wide range of discounts it has been offering currently seen on around a third of its products to continue for the next couple of months at the very least.
King said: 'We see no reason for that to change in the next quarter or two, but it feels like a normal January price war.'
Elsewhere, it admitted its high end 'Taste the difference' range had seen sales decline slightly, as shoppers moved to buy cheaper goods in particular its 'Basics' range which it said had grown sales by 40%.
Shares climbed initially after the update ahead by 3.1% as the market opened before falling back. By 08:51am, they were down 1% or 3.75p, at 319p.
A plc swimming against the tide.
By Nicholas Paler | 09:00:37 | 08 January 2009
Bucking the trend seen at rival stores, Sainsbury's today said it would look to create between 3,000 and 4,000 jobs next year in the wake of a record Christmas trading period and a surge in like for like sales throughout the last quarter.
Having reported sales on a like for like basis had climbed 4.5% (excluding fuel) in the last 13 weeks to 3 January, including a record Christmas performance during which it recorded its busiest ever day's trading on 23 December, Sainsburys said it intended to employ additional staff in the new year as it looked to expand a number of its stores.
Chief executive Justin King said the chain expected to create 'between 3 and 4,000 jobs next year' as it expands its floor space by around 3-4%.
It also said it expected the wide range of discounts it has been offering currently seen on around a third of its products to continue for the next couple of months at the very least.
King said: 'We see no reason for that to change in the next quarter or two, but it feels like a normal January price war.'
Elsewhere, it admitted its high end 'Taste the difference' range had seen sales decline slightly, as shoppers moved to buy cheaper goods in particular its 'Basics' range which it said had grown sales by 40%.
Shares climbed initially after the update ahead by 3.1% as the market opened before falling back. By 08:51am, they were down 1% or 3.75p, at 319p.