sainsbury\'s warns outlook \'challenging\' as sales fall

by:Powerful Toys     2019-09-01
Sainsbury warned that the outlook for the rest of the fiscal year will be \"still challenging\" after a similar decline in the report\"for-
Just like sales during the critical Christmas period.
The supermarket chain said sales of stores had dropped by 1 for at least one year.
7% fuel was not included in the 14 weeks ended January 3.
Total sales fell 0. 4%.
However, Sainsbury said the week before Christmas was a \"record\", 29 years old.
5 million customer transactions.
The latest data also improved from the previous quarter, whenfor-
Sales like excluding fuel fell by 2.
8%, better than analysts expected --for-Like 2 sales. 5-4. 4%.
Sainsbury\'s share price has fallen 36% in the past year, up 1.
3% after the transaction is updated.
The supermarket\'s chief executive Mike Coupe is expected to be the same-for-
Like sales in the fourth quarter are similar to the performance in the first half because of \"uncertainty in the trading environment, deflation in food prices and price cuts \".
\"Overall, we sold the same amount of things last year, just for a lower price,\" he told BBC Radio 5 live . \".
Sales figures also reflect a trend of more frequent local shopping, he said, with the convenience business growing 16% this quarter.
Christmas Eve is the largest trading day for Sainsbury convenience stores with sales of £ 8.
The third quarter was also the biggest Christmas of its online sales, with the chain delivering 110,000 orders in the three days ended December 23.
Its clothing business also performed well, with sales up 10% year on year. on-year.
Christmas jumper
Sales doubled compared to last year, and a snowman jumper proved its most popular design.
The data came a day after Sainsbury said it would lower the price of 1,000 of its most popular products as part of the £ 150 program announced in November.
Rival Asda announced a similar plan on Tuesday, saying it would invest 300 pounds in 2015 to lower prices.
The plan marks the latest offensive in a fierce price war, the \"big four\" supermarket, which also includes Tesco and Morrison, competing for customers.
Increased competition from discount outlets Aldi and Lidl, as well as customers buying bargains around, means none of the four stores will report similar growthfor-
Like sales during Christmas.
Attention will now shift to Tesco, Mark and Spencer, both of which will be releasing a deal update for Christmas on Thursday.
Phil Dorrell, director of retail remediation at retail consulting, said the third-quarter data highlighted \"the challenges for Sainsbury and the other big four companies \".
\"Excessive attention to prices can damage the reputation of quality that Sainsbury has accumulated over the years.
It can\'t cut corners on quality, it can\'t save a lot of Labor, it\'s not Asda, so either the supplier has to play with the ball or the profit will be squeezed.
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