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Trading statements

Sainsbury lifts retail, grocery sales in Q1

04 July 2017 07:17

Sainsbury has lifted its Q1 retail sales byu 2.7%, excluding fuel, with like for like sales up 2.3% also excluding fuel.

The company also boosted grocery dales by 3.0%, and enjoyed transaction growth of 1.9%.

CEO Mike Coupe said Sainsbury had delivered a strong Q1 performance.

"We have seen strong food sales where we have invested in product innovation, such as our new Summer eating ranges.

"Our Produce category, where we know quality matters most to customers, performed particularly well, outperforming the market with volume growth of over one per cent."

Coupe said Groceries Online sales grew by 8% and Convenience delivered strong growth of 10%, in line with Sainsbury's strategy.

"General Merchandise and Clothing, including Argos, outperformed the market, with Fast Track delivery and collection seeing a stellar performance during the quarter, particularly during the period of warm weather when customers wanted to buy and receive their products the same day.

"Argos customers are increasingly choosing to shop with us online, consistent with our objective of being a leading digital retailer.

"The market is competitive and we continue to manage cost price pressures closely. Our strategy is delivering and we are well placed to navigate the external environment."

Story provided by StockMarketWire.com

Related Company: SBRY

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