Supermarket chain Sainsbury's has announced it recorded a rise in sales for the last three months of the year.
The firm's like-for-like sales UK sales, excluding fuel, were up by 0.7 per cent and its market share has also been increased by 0.2 per cent to 16.8 per cent in the in the 12 weeks up to June 8th.
Sainsbury's latest results come only a short time after its major rival Tesco announced a fall in its own sales.
Chief executive Justin King called the figures "a solid performance in what continues to be a tough consumer environment" and pointed out that his company has now recorded 34 quarters of like-for-like growth.
Sales from Sainsbury's convenience stores were shown in the results to have increased by a fifth compared to last year.
The share price of the supermarket chain is up this morning (June 12th) on the back of the news its sales in the UK are rising.
At 08:30 BST, stocks were trading for 363.80, up 0.3 per cent on the start of the day.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.