LONDON (dpa-AFX) - J Sainsbury plc (SBRY.L) issued a trading statement for the 15 weeks to 5 January 2019. For the third-quarter, total retail sales were down 0.4 percent (excl. fuel) with like-for-like sales (excl. fuel) down 1.1 percent (excl. fuel). Grocery sales grew 0.4 percent while General Merchandise sales declined by 2.3 percent. Like-for-like sales (inc. fuel) were up 0.3%, for the quarter. The Group stated that it is on track to achieve 200 million pounds of cost savings in the current year.
Mike Coupe, Group Chief Executive of J Sainsbury plc, said: Grocery sales were solid across the quarter and our price position versus our competitors improved, with our £9 turkey crowns and 30p vegetables proving particularly popular. Groceries Online continues to perform well and, including Argos, 20 per cent of the Group's sales started online. General Merchandise sales grew strongly over the key Christmas weeks and outperformed the market over the quarter. Sales declined in the quarter due to cautious customer spending and our decision to reduce promotional activity across Black Friday. Clothing performed well, with strong full price sales growth in a tough market.'
Copyright RTT News/dpa-AFX