- Prachi Singh |
For the fourth quarter ended March 11, 2017, combined Sainsbury’s and Argos like-for-like sales increased 0.3 percent. Total retail sales rose 0.1 percent but like-for-like retail sales were down 0.5 percent. The company said, general merchandise sales were down by 4 percent over the quarter, impacted by this year’s later Mother’s Day and Easter.
Commenting on the trading update, Mike Coupe, Group Chief Executive, said in a statement, “We are pleased with this performance and are making good progress against our key priorities. Our Tu clothing brand again performed ahead of the market, with sales up 5 percent. 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.”
Sainsbury's convenience stores saw total sales growth of almost 7 percent, with 10 new outlets opening in the quarter. The company, which took over catalogue retailer Argos last year, opened 11 Argos Digital stores in Sainsbury's supermarkets since the start of the year, bringing the total to 41. The company also operates eight Mini Habitat stores.