Sainsbury’s share price: Q4 like-for-like sales up 0.3%

on Mar 16, 2017
Updated: Oct 21, 2019

J Sainsbury (LON:SBRY) has updated investors on its fourth-quarter performance this morning.

**Highlights from the company statement:**
· Combined Sainsbury’s and Argos like-for-like sales up 0.3 per cent (excl. fuel)
· Sainsbury’s: Total Retail sales1 up 0.1 per cent (excl. fuel) and like-for-like Retail sales down 0.5 per cent (excl. fuel)2
· Argos: Total sales up 3.8 per cent and like-for-like sales up 4.3 per cent
Mike Coupe, Group Chief Executive, said: “We are pleased with this performance and are making good progress against our key priorities. Customers appreciate the quality, choice and value of our differentiated food offer and our Tu clothing brand again performed ahead of the market3, with sales up five per cent.

“Argos delivered another strong quarter of growth, with like-for-like sales up by over four per cent. We are investing in digital to deliver excellent service and availability, with enhancements to the Argos website and app. Online participation is growing, driven by mobile and Fast Track delivery and customers are responding well to new ranges.
“Sainsbury’s Bank continues to deliver good growth and our competitive personal loan offers sold well.
“The market remains very competitive and the impact of cost price pressures remains uncertain. However, we are well placed to navigate the external environment and remain focused on delivering our strategy.”
**More to follow…**
As of 07:05 GMT, Thursday, 16 March, J Sainsbury plc share price is 271.12p.

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