Sainsbury is expected to report 2.2 per cent growth in like-for-like sales in the fourth quarter after data showed the supermarket increased its market share last month.

The grocer was the only one of the four largest UK supermarkets to see a rise in market share in February amid the horsemeat scandal, according the data from Kantar Worldpanel.

Spending at the British grocer rose 4.6% in the 12 weeks to February 17th and market share increased 17% from 16.9% a year earlier.

The other of the biggest four grocery stores - Tesco, Asda and Morrison Supermarkets - took a hit after being forced to remove beef products laced with horsemeat from their shelves.

Sainsbury's beef goods were found to be free of horsemeat following tests by the Food Standards Agency.

Stockbroker Jefferies International predicts the supermarket will report a strong fourth quarter and confirm current consensus expectations of £743m pre-tax profits for 2012/13.

The analyst highlighted the company's marketing efforts including Brand Match, an initiative which allows customers to compare the prices of brands at Sainsbury against rival supermarkets. Clients receive a coupon at the till if they can show they could have bought a brand for a lower price at Tesco or Asda.

"The group's marketing and trading initiatives have been well calibrated," the broker said.

"Brand Match (originally launched in October 2011) has certainly resonated in addressing Sainsbury's perceived weak price offering. Also, the company has traded through the 2012 events much more successfully than peers. However, we continue to look for more obvious signs that the business will pursue a less capital intensive strategy at a time when peers are signalling a reduced focus on space expansion."


Tuesday March 19

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