Sainsbury’s, the UK’s third-largest grocer, said today (10 January) that third-quarter sales rose 4.7% but warned the retail environment would remain “competitive”.
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Like-for-like sales, excluding fuel, were up 3.7% for the three months to 29 December, Sainsbury’s said.
The results provided some relief to retail industry watchers in the UK after rival Marks & Spencer reported falling quarterly food sales yesterday.
Sainsbury’s chief executive Justin King said: “This is a good result for the Christmas quarter, and is particularly pleasing given the level of competition during this period.”
King warned, however, that the retail landscape in the UK remained “challenging”.
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By GlobalData“Consumer budgets are clearly under pressure and we expect the market to continue to be very competitive,” he said. “The improvements we have made to our business during our recovery means we are well equipped to perform in this challenging environment and we remain confident in our ability to deliver our growth plans.”
