Sainsbury’s Q1 clothing sales improve 0.8 percent

Total retail sales for the first quarter increased 0.8 percent (excluding fuel), while like-for-like sales were up 0.2 percent. General Merchandise sales for the quarter grew by 1.7 percent and clothing sales grew by 0.8 percent.

Commenting on the first quarter trading, Mike Coupe, Group Chief Executive of J Sainsbury Plc, said in a statement: “I am pleased with our progress in the quarter. Our price position has improved and customers have responded well, resulting in a continuation of the improved volume trend we saw in the second half of last financial year. General merchandise and clothing, including Argos, continue to outperform a very challenging market and we are well placed to further grow market share. We have now launched Tu clothing on the Argos website, a key strategic milestone.”

“The market remains competitive. However, we have the right strategy in place and our proposal to combine Sainsbury’s and Asda will create a dynamic new player in UK retail, with the scale to give customers more of what they want today and create a more resilient and adaptable business for the future. We have successfully agreed a financing package of 3.5 billion pounds in relation to the proposed combination,” added Coupe.

Picture:Facebook/Tu Clothing