|Supermarkets Sweep Aside Credit Crunch Blues|
With most reporting record trading over the festive period
Christmas proved an interesting time for Chiswick’s supermarket chains with three out of the four (if we include Tesco Express) appearing to be weathering the recession rather well.
Sainsbury’s reported a 4.5% rise in sales claiming its best-ever performance over the festive season.
Waitrose reported a 41% surge in sales in the week to December 27 and, over the past month, shares in Tesco have risen by 11%.
All this is in stark contrast to Marks & Spencer who revealed its worst sales performance in a decade and announced that it would be closing 27 stores (including 25 Simply Food stores) and make more than a thousand staff redundant.
The Chiswick store is not believed to be amongst those earmarked for closure however, staff have been told that they will know for certain on Friday (January 9th).
January 8, 2009