Business
Fourth Quarter Trading Statement
Fourth Quarter Trading Statement.
About this update from J Sainsbury Plc
[{"type":"text","content":"\n \nRNS Number : 6200Z Sainsbury(J) PLC 16 March 2017 \n\nJ Sainsbury plc\nFourth Quarter Trading Statement for the nine weeks to 11 March 2017\nSolid food performance at Sainsbury's and good growth at Argos\n· Combined Sainsbury's and Argos like-for-like sales up 0.3 per cent (excl. fuel)\n· 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\n· Argos: Total sales up 3.8 per cent and like-for-like sales up 4.3 per cent \nMike 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. \n\"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.\n\"Sainsbury's Bank continues to deliver good growth and our competitive personal loan offers sold well.\n\"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.\"\nStrategic and operational highlights\nWe are focused on delivering the five pillars of our strategy:\nWe know our customers better than anyone else\nTo achieve our goal of being the most trusted retailer where people love to work and shop, it is vital that we understand what our customers want\n· We continue to simplify Sainsbury's trading strategy in favour of lower regular prices\n· We have reduced promotional participation, lowering operating costs and cutting food waste\nGreat products and services at fair prices\nWe continue to improve the quality and range of our Food, Clothing and General Merchandise products \n· Sainsbury's has extended its successful pre-prepared vegetable range with new products inclu...