Jan 8, 2020

Sainsbury’s upbeat food sales offset Argos weakness

J Sainsbury said same-store sales fell 0.7 per cent over the three months to January 4, with a strong performance in food and clothing offset by weakness at Argos. Sales in the core grocery business were up 0.4 per cent in total, the same increment as in the equivalent period last year. Mr Coupe added that colder weather in November helped to deliver 4.4 per cent growth in sales of the company's Tu clothing range, which is sold in both Sainsbury's and Argos stores. The wider third-quarter performance represents an improvement on the 1.1 per cent decline in group same-store sales reported last year, amid efforts to improve prices and availability in stores and increased use of fuel promotions, coupons and the Nectar loyalty scheme to drive sales. Its former takeover target Asda, by contrast, saw sales decline by the most since 2016.

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