It's Britain's third largest supermarket and it's bound to be making the Top Two in the game very nervous indeed. Sainsbury's half-year pre-tax underlying profits are up to £373m and its share of the market is the highest in almost a decade, to 16.7%. Sales, including VAT and fuel, were up 4% as well to £13.4 billion.
31 straight quarters of sales growth could give Tescos and Asda the jitters. Asda's preparing to post its figures for July – September tomorrow and market leader, Tesco reported a fall in profits last month – the first fall in 20 years.
Sainsbury's is revamping its stores and it's got a bank - a joint venture with the Bank of Scotland - where its share of the profits is up from £7 to 12 million. CEO Justin King reckons the company's 'Live Well For Less' motto seems to be driving the message home. He says "Whilst the wider economic situation remains challenging, we are well positioned to help our customers."
With more and more people buying online too, the supermarket's business from internet orders is growing at 'more than 20%' according to the latest briefing, regularly more than 165,000 baskets of shopping placed online each week. Today's roar from the firm means it's very much looking like a force to be reckoned with.
Written and presented by Marverine Cole.