Sainsbury's 3Q Retail Sales Fell on General-Merchandise Decline
January 09 2019 - 1:46AM
Dow Jones News
By Adam Clark
J Sainsbury PLC (SBRY.LN) said Wednesday that retail sales fell
in its third quarter as consumer caution and lower promotional
activity weighed on its nonfood business.
The U.K.'s second-largest supermarket chain said like-for-like
sales excluding fuel fell 1.1% in the 15 weeks to Jan. 5. This
compares with 1.2% growth in the same quarter in fiscal 2018.
Total sales, excluding fuel, fell 0.4% for the quarter. Grocery
sales rose 0.4%, general-merchandise sales fell 2.3% and clothing
dropped 0.2%.
Sainsbury's said its Argos general-merchandise business
outperformed a weak market and grew in the key Christmas weeks, but
overall sales were hit by cautious consumer spending and the
decision to reduce promotions across Black Friday.
"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," Chief Executive Mike Coupe said.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
January 09, 2019 02:31 ET (07:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Sainsbury (j) (LSE:SBRY)
Historical Stock Chart
From Apr 2024 to May 2024
Sainsbury (j) (LSE:SBRY)
Historical Stock Chart
From May 2023 to May 2024
