Belfast Telegraph

Sainsbury's sales down in last quarter

By Holly Williams

Sainsbury's said trading remains "very competitive" and warned over ongoing price pressures from the weak pound as it saw supermarket sales slip into reverse.

The group posted a 0.5% fall in like-for-like supermarket sales, excluding fuel, in its fourth quarter to March 11, down from a rise of 0.1% in the previous three months.

Overall trading was boosted by a robust performance from its recently acquired Argos chain, which notched up a 4.3% rise in like-for-like sales.

The Argos sales hike helped lift group-wide comparable sales into positive territory, up 0.3% in the fourth quarter.

Group chief executive Mike Coupe said he was "pleased" with the company's performance.

He added: "The market remains very competitive and the impact of cost price pressures remains uncertain."

Sainsbury's blamed its sales slip on the later Mother's Day and Easter this year.

Belfast Telegraph