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Sainsbury's reports on Q2 trading and Argos' performance

Sainsbury's London Colney 725 x 500

Sainsbury's has reported on second quarter trading, covering the 16 weeks to 24 September 2016.

The retailer reports progress against strategy with like-for-like transaction growth across all channels

  • Total Retail sales down 0.4 per cent (excl. fuel), flat (inc. fuel)
  • Like-for-like Retail sales down 1.1 per cent (excl. fuel), down 0.5 per cent (inc. fuel)
  • Like-for-like transaction growth and total volume growth

Mike Coupe, Group Chief Executive, said: “We continue to make progress against our strategy and, while like-for-like sales were down 1.1 per cent (excl. fuel), driven by food price deflation, we delivered like-for-like transaction growth across all channels and total volume growth. This shows that customers are consistently choosing Sainsbury’s for the choice, quality, value and customer service we offer.  

“Our ambition is to help customers live well for less. We have made further investment in everyday low prices and continue to improve the quality of our products. Our general merchandise and clothing offer is popular with customers and the acquisition of Home Retail Group will accelerate our multi-product, multi-channel strategy. We will open 200 new digital collection points by the end of the year and already have 15 Argos Digital stores open in Sainsbury's stores so customers can shop 90,000 products whenever and wherever they want.

“We expect the market to remain competitive and the effect of the devaluation of sterling remains unclear. However, Sainsbury’s is well positioned to navigate the changing marketplace and we are confident that our strategy will enable us to continue to outperform our major peers.”

Argos second quarter performance for the 13 weeks to 27 August 2016

Completion of the acquisition of Home Retail Group plc took place on 2 September 2016. Home Retail Group’s last trading update was for its first quarter results. In its second quarter to 27 August 2016, Argos achieved total sales growth of 3.0 per cent and like-for-like sales growth of 2.3 per cent.

View the full publication here.

Review the news on the Sainsbury's-Home Retail group deal and recent Sainsbury's news in the articles below:

Sainsbury's successfully completes Home Retail Group acquisition

Sainsbury's to open new Argos & Habitat concessions

Sainsbury's unveils plans for 200 Click & Collect points

Source : Sainsbury's Press Release

www.j-sainsbury.co.uk

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28 September 2016

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