Sainsbury’s like-for-like sales slip in third quarter
Sainsbury’s has posted a 0.7% decline in third quarter like-for-like sales following a dip in sales of general merchandise.
The 15 weeks to 4 January saw grocery and clothing sales rise by 0.4% and 4.4% respectively. However, general merchandise sales declined by 3.9%.
Mike Coupe, Sainsbury’s chief executive, said: “We gave our customers a great combination of quality food at good prices this Christmas and we delivered a standout performance operationally. We have a real sense of momentum in Sainsbury’s and investment in our stores and improvements to service and availability have led to our highest customer satisfaction scores of the year.”
Sainsbury’s said over 20% of its business was online in the quarter due to a record number of online grocery orders being placed over the Christmas trading period. In addition, its Argos chain had its biggest digital Black Friday to date.
Looking ahead, Coupe said: “Retail markets remain highly competitive and promotional and the consumer outlook continues to be uncertain. However, we are well placed to navigate the external environment and are executing well against our strategy.”
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