11th Jan 2017 07:15
LONDON (Alliance News) - J Sainsbury PLC on Wednesday reported growth in sales in the third quarter of its financial year boosted by a record Christmas week, and said it is well placed to "navigate the external environment" despite a "very competitive" market.
The supermarket chain said total retail sales in the 15 weeks ended January 7 grew by 0.8% excluding fuel year-on-year, as like-for-like retail sales rose by 0.1% also excluding fuel.
At Argos, the general retailer that Sainsbury's bought last year, total sales increased by 4.1% and like-for-like sales were up 4.0%, driven by the Black Friday sales event and Christmas trading.
This means combined Sainsbury's and Argos like-for-like sales grew by 1.0% in the period.
Sainsbury's said it had a record Christmas week, with over 30 million customer transactions at Sainsbury's and over GBP1 billion of sales across the group.
Online grocery sales rose by 9% while sales in the smaller Sainsbury's convenience stores were up 6% in the 15 weeks. Clothing sales grew by 10% and general merchandise sales increased by 3%.
"The market remains very competitive and the impact of the devaluation of sterling remains uncertain. However, we are well placed to navigate the external environment and remain focused on delivering our strategy," Chief Executive Mike Coupe said in a statement.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
Sainsbury's