In the 28 weeks to September 21st, Sainsbury's saw underlying retail sales (including VAT, excluding fuel) decrease by -0.6%, driven by declines in general merchandise and clothing sales. LFL sales (excluding fuel) were down -1.0%.
Argos sales reportedly grew "ahead of the market", and Fast Track delivery and collection continue to grow.
Investment in store estate continued during the half, with improvements made to 172 supermarkets and 158 convenience stores. 176 Argos stores were converted to a new digital format, and the majority of the remaining stores will undergo the transition by the end of the year.
Chief executive Mike Coupe says: “We have created positive momentum across the business through strategic investments in our customer offer. We are investing in hundreds of Sainsbury’s and Argos stores, introducing new products and services and continually improving service and availability. As a result, customer satisfaction has increased significantly YoY.
“We have set out our plan to create one multi-brand, multichannel business. This will make the combined Sainsbury’s and Argos offer much more accessible for customers and gives us the opportunity to make our business more efficient. We offer great quality at affordable prices with convenient ways to shop."
