Mixed results for supermarkets

Supermarket giant Tesco has reported a 12% drop in group pre-tax profits to £1.7 billion in the six months to August 25. However Sainsbury's has reported strong sales for the second quarter of the year, with total sales up 4.3 per cent.

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Sainsbury's boss on the supermarket chain's success

Sainsbury's chief executive Justin King has spoken about the supermarket chain's strong sales in the second quarter of the year.

He told ITV News' Economics Editor, RichardEdgar, that the results were due to "sticking to doing the great thingsthat we've been doing for customers in the long term.

"Giving them fantastic own-label products, offers on brands and fantastic service in our stores. Doing all of those a bit better, and better than our competitors."

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