British supermarket chain Sainsbury's has expressed surprise at the speed of its recovery as first-half sales rose and it clawed back more of the grocery market from its rivals.
The UK's third biggest chain said like-for-like sales rose 2.1% in the six months to October 8 as its strategy of price cuts and swiftly replenishing stock brought shoppers back in droves.
Sainsbury's said more than 15 million customers were visiting its stores each week and spending more money despite a trading environment that was expected to remain highly competitive for the rest of the year.
Pre-tax profits from continuing operations totalled £87m in the half year as Sainsbury's turned around losses of £292m at the same stage of
2004.
