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| Sainsbury's warns outlook 'challenging' as sales fall | Sainsbury's warns outlook 'challenging' as sales fall |
| (35 minutes later) | |
| Sainsbury's has warned the outlook for the rest of the financial year will "remain challenging" after reporting a drop in like-for-like sales over the key Christmas trading period. | Sainsbury's has warned the outlook for the rest of the financial year will "remain challenging" after reporting a drop in like-for-like sales over the key Christmas trading period. |
| The supermarket chain said sales at stores open at least a year fell 1.7% excluding fuel in the 14 weeks to 3 January. | |
| Total sales dropped by 0.4%. | Total sales dropped by 0.4%. |
| However, Sainsbury's said the week before Christmas was a "record", with 29.5 million customer transactions. | |
| The performance was also an improvement on the second quarter, when like-for-like sales excluding fuel fell 2.8%. | The performance was also an improvement on the second quarter, when like-for-like sales excluding fuel fell 2.8%. |
| Sainsbury's chief executive Mike Coupe said he expected like-for-like sales in the fourth quarter to be similar to its first half performance due to "the uncertainty in the trading environment, food price deflation and price reductions". | Sainsbury's chief executive Mike Coupe said he expected like-for-like sales in the fourth quarter to be similar to its first half performance due to "the uncertainty in the trading environment, food price deflation and price reductions". |
| He said the sales figures also reflected the trend of more frequent and local shopping, with its convenience business growing 16% in the quarter. | He said the sales figures also reflected the trend of more frequent and local shopping, with its convenience business growing 16% in the quarter. |
| Christmas Eve marked Sainsbury's biggest trading day in its convenience stores, with sales totalling £8m. | Christmas Eve marked Sainsbury's biggest trading day in its convenience stores, with sales totalling £8m. |
| The third quarter was also its biggest Christmas for online sales, with the chain delivering 110,000 orders in the three days to 23 December. | The third quarter was also its biggest Christmas for online sales, with the chain delivering 110,000 orders in the three days to 23 December. |
| Its clothing business also performed well, with sales up 10% year-on-year. | Its clothing business also performed well, with sales up 10% year-on-year. |
| Christmas jumpers were the stand-out performer, with sales doubling compared with last year and a snowman jumper proving its most popular design. | Christmas jumpers were the stand-out performer, with sales doubling compared with last year and a snowman jumper proving its most popular design. |
| The figures come a day after Sainsbury's said it would cut the prices of 1,000 of its most popular products as part of a £150m programme announced in November. | The figures come a day after Sainsbury's said it would cut the prices of 1,000 of its most popular products as part of a £150m programme announced in November. |