13th Jan 2016 07:12
LONDON (Alliance News) - J Sainsbury PLC on Wednesday reported growth in total retail sales excluding fuel in its third quarter as the number of customer transactions rose, although like-for-like sales fell.
The FTSE 100-listed supermarket chain said total retail sales in the 15 weeks ended January 9 grew 0.8% excluding fuel, although they fell 0.7% including fuel. Like-for-like retail sales, meanwhile, declined 0.4% excluding fuel and 1.8% including fuel.
Sainsbury's added that over 30 million customer transactions were made in the week before Christmas, which was up 2.6% year-on-year.
It said reduced levels of vouchering, promotional activity, and number of multi-buys, in favour of lower regular prices, drove like-for-like transaction and volume growth.
General merchandise achieved sales growth of 5% and clothing nearly 6%, despite the unseasonal weather which has hit other clothing retailers, Sainsbury's said.
"Given our good performance in this quarter, we now expect our like-for-like sales in the second half of the year to be better than the first. Food deflation and pressures on pricing will ensure that the market remains challenging for the foreseeable future. We will continue to remain competitive on price and our performance this quarter provides further evidence that our strategy is working," Chief Executive Mike Coupe said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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