Business
First Quarter Trading Statement
First Quarter Trading Statement.
About this update from J Sainsbury Plc
[{"type":"text","content":"\n \nRNS Number : 5039T Sainsbury(J) PLC 04 July 2018 \n\n4 July 2018\n \nJ Sainsbury plc\nFirst Quarter Trading Statement for the 16 weeks to 30 June 2018\n· Total retail sales up 0.8 per cent (excl. fuel) with like-for-like sales up 0.2 per cent (excl. fuel)\n· Grocery sales grew 0.5 per cent with Groceries Online and Convenience up 7.3 per cent and 3.6 per cent respectively\n· General Merchandise sales grew by 1.7% and Clothing sales grew by 0.8%, both outperforming the market\nMike Coupe, Group Chief Executive of J Sainsbury plc, said: \"I am pleased with our progress in the quarter. The headline numbers reflect the level of price reductions we have made in key areas like fresh meat, fruit and vegetables since March. Our price position has improved and customers have responded well, resulting in a continuation of the improved volume trend we saw in the second half of last financial year. \n \n\"We are transforming our business to meet the changing needs of our customers. We have made fundamental changes to the way we run Sainsbury's stores. We have completed our store management restructure, which will ensure that our shops are run efficiently and in a way that puts customer service at the heart. We have also confirmed our plans to increase our colleague hourly rate of pay to an industry-leading £9.20 an hour from September and will introduce one simple, fair and consistent contract for all Sainsbury's store colleagues. Both of these significant changes means we are well set up for the future. We were delighted to win The Grocer Gold Service and Availability awards for the sixth consecutive year, recognising the excellent job our colleagues do for customers in stores every day.\n \n\"General Merchandise and Clothing, including Argos, continue to outperform a very challenging market and we are well placed to further grow market share. Argos stores in Sainsbury's supermarkets continue to grow, Fast Track sales were strong and we have now launched Tu clothing on the Argos website, a key strategic milestone. \n \n\"The market remains competitive. However, we have the right strategy in place and our proposal to combine Sainsbury's and Asda will create a dynamic new player in UK retail, with the scale to give customers...