Sainsbury’s saw its second quarter like-for-like sales drop by 0.2% as it unveiled plans to close a number of its supermarkets, convenience stores and Argos shops.
In the 12 weeks to September 21st, total sales grew by 0.1%, with total group sales growing by 0.6%.
Mike Coupe, chief executive of Sainsbury’s, said: “Sales momentum was stronger in all areas and we further improved our performance relative to our competitors, particularly in grocery. We have focused on reducing prices on everyday food and grocery products and expanding our range of value brands, which have been very popular with customers. At the same time, we are investing significantly in our supermarkets, driving consistent improvements to service and availability.”
Clothing sales benefited from a range of clearance activity and strong online growth.
The supermarket retailer said that it is still on track to deliver full year underlying profit before tax in line with expectations.
The company plans to close around 10 to 15 supermarkets, 30 to 40 convenience stores and 60 to 70 Argos shops. It will also open around 10 new supermarkets, 110 convenience stores and 80 Argos outlets in Sainsbury’s stores as part of a store review.
