Sainsbury’s share price: Grocer issues Q1 statement

on Jun 10, 2015
Updated: Oct 21, 2019

J Sainsbury (LON:SBRY) today released its first quarter trading statement for the 12 weeks to 6 June 2015.

**Highlights from the company’s statement:**
Progressing well with our strategy: Total Retail sales for first quarter down 0.6 per cent (excl fuel), down 2.3 per cent (inc fuel); Like-for-like Retail sales for first quarter down 2.1 per cent (excl fuel), down 3.7 per cent (inc fuel)
Mike Coupe, Chief Executive, said, “Trading conditions are still being impacted by strong levels of food deflation and a highly competitive pricing backdrop. These pressures, including the effect of our own targeted price investment, have led to a fall in like-for-like sales for the quarter. We outlined in our Strategic Review in November some of the key actions we would be taking to remain competitive in this environment and are encouraged by some of the early trends that we are seeing in our key trading and operational metrics.
Despite the challenging market conditions, we are confident that we are building on strong foundations and making good progress with our strategy. We continue to invest in our broad range of products and services and our multiple channels to market. These areas represent strong future growth opportunities and contribute towards our resilience in the current trading environment.”
**More to follow…**
As of 07:09 BST, Wednesday, 10 June, J Sainsbury plc share price is 249.00p.

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