Sainsbury’s Sees Like-For-Like Sales Down 1.1% In Third Quarter
UK retailer Sainsbury’s has posted a 1.1% decline in like-for-like sales in the third quarter of its financial year, a period that takes in Christmas 2018.
Total retail sales at the group were down 0.4%, however grocery sales were up 0.4% and online and convenience were up 6.0% and 3.0% respectively.
The group’s performance was dragged down by general merchandise sales, which fell 2.3%, and clothing sales, which were down 0.2%.
Service And Availability
“Christmas came late this year and I am pleased with the excellent service and availability that we gave customers across the Group,” said chief executive Mike Coupe.
“Sainsbury’s stores were well set up to deal with customers doing their big Christmas shops later than usual and Convenience stores hit a new record on Christmas Eve.”
The like-for-like sales performance for the business follows on from a 0.2% like-for-like gain in Q1, and a 1.0% increase in Q2.
Commenting on the state of the retail sector at present, Coupe added, ““Retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain. However, we are well placed to navigate the external environment and remain focused on delivering our strategy.”
The group said that it is ‘on-track’ to deliver £200 million worth of cost savings across the business this year.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine