Strong festive sales at Sainsbury's boosted by convenience

Sainsburys store retail supermarkets Sainsbury

Sainsbury's said today that like-for-like sales edged 0.1% higher over the quarter including Christmas, but warned that the market remains "very competitive" and the impact of the pound on prices is "uncertain".

Sainsbury's announced in a statement this morning that its total retail sales had inched 0.8 percent higher in the 15 weeks to January 7, while the group's like-for-like sales had come in 0.1 percent higher. It added total sales at Sainsbury's rose 0.8%, while total sales at Argos lifted 4.1%. Recently it purchased Argos, which helped to increase sales further, thanks to the flurry of electrical goods and toys sold.

The chain is set to j oin smaller rivals Morrisons and Sainsbury's in revealing a resurgent performance amid signs of a better-than-expected Christmas for the Big Four players. On Tuesday, another grocer Wm.

Supermarket giant Sainsbury's has reported growth in like-for-like sales, boosted by a "record Christmas week" and a strong performance for Argos following its takeover.

Mr Coupe said the supermarket saw record trading during Christmas week, with more than 30m customer transactions and more than £1bn of sales across the group.

Like-for-like sales at Argos rose by 4%, more than double the rate expected by the City, driven by its Black Friday offers and the key Christmas trading period.

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Shares in Sainsbury's jumped almost 6% higher, with rivals Morrisons and Marks & Spencer also enjoying another day of stock market gains thanks to early signs of a solid Christmas for the sector after a tough 2016.

He said clothing and general merchandise also had a very strong quarter, with clothing sales up 10% and general merchandise ahead 3%.

Mike Coupe, chief executive of Sainsbury's. "Argos customers will buy into Sainsbury's when they visit our stores", he said.

Sainsbury's shares rose more than 6% as it surprised the City with a record Christmas week and its first sales growth since March previous year.

Within the Sainsbury's operation, Groceries Online and Convenience channels performed well and achieved over 9% and 6% sales growth respectively.

He added the business was "well placed to navigate the external environment and remain focused on delivering our strategy".

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