Sainsbury outperforms rival Tesco

Justin King, chief executive, said: "This has been a unique and special summer, during which we have delivered another quarter of good sales, outperforming the market in what remains a challenging retail environment. Our total sales are up 4.3 per cent, and like-for-like sales up 1.9%.​

Olympic Games​

"The quarter began with the period immediately following the Jubilee celebrations, and was characterised by unseasonal weather. The quarter ended with the Olympic and Paralympic Games, which united and inspired the nation. We were delighted to play our part in helping customers celebrate this summer like no other, and are particularly proud of Sainsbury's association with the Paralympic Games.”​

But neither the Jubiliee celebrations nor the Olympics could prevent Tesco reporting its first dip in profits for 18 years when it reported its half year results today (October 3). For more, click here​.