The retailer, which is vying for the position of the UK’s second largest supermarket, reported a 2.6% increase in like-for-like sales, in the three months to 17 March. Total sales for the quarter increased 4.6%.
For the full year, like-for-like sales, which strip out new stores, increased 4.5%.
CEO Justin King credited the “good performance” to a number of marketing initiatives.
He hailed the Live Well for Less initiative introduced last year as inspiring shoppers to find ways to make their money go further without compromising on quality.
King also hailed its Brand Match promise and the ongoing partnership with the Nectar loyalty scheme in helping Sainsbury’s retain competitive advantage and gain market share.
Sales of Sainsbury’s Basics range increased 10% during the year and its premium Taste the Difference range grew by 20% as customers turn to own label ranges to save money and treat themselves on special occasions.
Sainsbury’s claims that its convenience, online and non-food divisions are all growing ahead of market.
King says: “The economic climate is likely to remain challenging, and we are committed to helping customers make their money go as far as possible. Nonetheless, the Diamond Jubilee, Olympics and Paralympics are wonderful opportunities this year for the country to join together and celebrate, and we expect these to underpin our continued growth as customers trust Sainsbury’s to make their celebrations really special.”