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Sainsbury’s releases fourth quarter trading statement

Sainsbury’s has reported a 0.1% increase in total retail sales (excluding fuel) for the fourth quarter of its financial year.

Like-for-like retail sales (excluding fuel) were down by 0.5% in the nine weeks ending 11th March.

Combined Sainsbury’s and Argos like-for-like sales grew by 0.3 per cent (excluding  fuel).

Chief executive Mike Coupe said: 'We are pleased with this performance and are making good progress against our key priorities.”

“The market remains very competitive and the impact of cost price pressures remains uncertain. However, we are well placed to navigate the external environment and remain focused on delivering our strategy.”

16 March 2017

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