LONDON (dpa-AFX) - Retailer J Sainsbury plc. (JSAIY.PK, SBRY.L) reported Wednesday that total retail sales for the third quarter, excluding fuel, declined 5.3 percent with drop in all divisions.
Looking ahead, the company now expects to report underlying profit before tax of at least 720 million pounds in the financial year to March 2022. The company said its expectations for full year profits are ahead of previous guidance.
In its trading update for the 16 weeks to January 8, the company said total retail sales including fuel was down 0.1 percent for the third quarter. In the prior year, retail sales excluding fuel was up 6.8 percent and including fuel was up 1.7 percent.
In the third quarter, like-for-like sales excluding fuel was down 4.5 percent, while including fuel was up 0.6 percent. Groceries online sales declined 16.5 percent .
On a pre-pandemic 2 year basis, total retail sales excluding fuel was up 1.4 percent and including fuel was up 1.7 percent. Groceries online sales surged 92 percent.
In the 6 weeks to January 8 Christmas period, total retail sales excluding fuel fell 2.9 percent and groceries online sales fell 15.1 percent. Sales declined 2.4 percent during Christmas period exlcuding Boxing day.
On a pre-pandemic 2 year basis, total retail sales during Christmas period grew 2.4 percent, and groceries online sales surged 95.2 percent.
General Merchandise and Clothing sales were down year on year reflecting an exceptional performance last year. Full price Clothing sales were up 38 percent versus two years ago.
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