Sainsbury’s shares up after sales boost

<p>Sales are up at Sainsbury’s.</p>

The share price of Sainsbury's was up this morning (March 19th) after the supermarket chain revealed its sales have gone up.

It was announced by the company that sales rose by 2.1 per cent from a year ago, with the last quarter of the year proving to be particularly strong for the firm.

Clothing was a good area of growth for the company, with sales up by 20 per cent.

Sainsbury's chief executive Justin King said: "Valentine's Day and Mother's Day were both particularly strong this year and we closed the quarter with a very successful Red Nose Day, presenting a record cheque for £10.5 million on behalf of customers and colleagues."

Following the announcement from the firm, stocks in Sainsbury's were up by eight points, a rise of more than two per cent.

Its share price was recorded at 08:00 GMT as standing at 373.90, which is close to a new 52-week high for the company.

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