Sainsbury's has brought some hope to the retail sector by declaring their "best ever Christmas performance".
The grocer reported its busiest ever trading day on December 23rd, while also marking record sales for Christmas Eve and New Year's Eve.
The festive week capped a good third quarter, Sainsbury's added, with like-for-like sales up 4.5 per cent excluding fuel.
A half-price toy sale in November also helped boost profits, while clothing range Tu grew to become the eighth largest retailer by volume in the UK clothing market.
Justin King, chief executive, said: "The economic environment remains particularly challenging and we expect this to continue in 2009, however our continued investment in price and promotions along with universal appeal and a wide customer base means we are well positioned to continue our good progress."
The grocer said its 'Switch and Save' campaign, which highlighted Sainsbury's own-brand product range, was a success and sales of basics products were up 40 per cent from last year.
Supermarkets are gearing up for a price war this year, with Tesco firing the first salvo by slashing prices on 3,000 products.
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