- Q1 like-for-likes slip 0.8%, excluding fuel
- Total retail sales up 0.3%, excluding fuel
Sainsbury’s has posted a 0.8% slip in first-quarter like-for-likes as food price deflation and the grocery price war continues to bite.
However, total sales rose 0.3%, excluding fuel, in the 12 weeks to June 4, the grocer said.
Boss Mike Coupe warned that market conditions remain “challenging”.
He added: “Food price deflation continues to impact our sales and pressures on pricing mean the market will remain competitive for the foreseeable future.”
However he flagged that Sainsbury’s had seen like-for-like transaction growth across all our channels and volume growth.
The grocer, which is in the process of acquiring Argos, revealed in February that it would scrap the vast majority of its multi-buy deals by August, but the move appears to have had an impact.
Latest Kantar figures also showed Sainsbury’s was suffering after a period of better sales.
Looking ahead, Coupe said: “We are confident that our strategy to be a trusted multichannel, multi-product and services retailer is delivering and will enable us to continue to outperform our major peers.”