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J Sainsbury Q4 sales down 0.3 percent

By Prachi Singh

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Total retail sales for fourth quarter at J Sainsbury were down 0.3 percent. Like-for-like retail sales for the quarter were down 1.9 percent. During the quarter, general merchandise and clothing businesses performed strongly, up more than six percent on last year.

Commenting on the fourth quarter trading, Mike Coupe, Chief Executive, said, “The trading environment remains challenging and the decisions we have taken to improve our competitiveness are reflected in our quarterly performance. Since we announced our strategic review in November we have lowered the regular prices of over 1,100 products, ensuring our price position relative to our major competitors has never been stronger.”

Growth in our convenience business remains strong at 14 percent and in the quarter, the company opened 23 convenience stores. “We expect the market to remain challenging for the foreseeable future. However, we believe that the great value and quality of our products, combined with a strong focus on developing our multi-channel offer, will enable us to outperform our supermarket peers,” added Coupe.

J Sainsbury