Sainsbury: Christmas sales rise; shares up
(CercleFinance.com) - J Sainsbury said on Wednesday that it had a strong Christmas week, with record sales, driven by "excellent" operations across the group.
Sales at the British supermarket group's stores that have been open for at least a year rose 1.1%, excluding fuel, in the third quarter to 6 January.
"We delivered an excellent operational performance across the group, with great availability, strong customer satisfaction scores and our lowest level of waste ever at Christmas," said chief executive Mike Coupe.
The retail chain said that Friday 22 December was the biggest sales day for its stores.
To follow up with the good news, Sainsbury said it now expects to achieve between 80 million pounds and 85 million pounds of Ebitda synergies from its acquisition of Argos by March 2018, which exceeds previous guidance.
As a result, the company expects 2017/18 underlying profit to be moderately ahead of the consensus.
Sainsbury's shares are currently up 1.7% at 252.6 pence after this trading statement.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Sales at the British supermarket group's stores that have been open for at least a year rose 1.1%, excluding fuel, in the third quarter to 6 January.
"We delivered an excellent operational performance across the group, with great availability, strong customer satisfaction scores and our lowest level of waste ever at Christmas," said chief executive Mike Coupe.
The retail chain said that Friday 22 December was the biggest sales day for its stores.
To follow up with the good news, Sainsbury said it now expects to achieve between 80 million pounds and 85 million pounds of Ebitda synergies from its acquisition of Argos by March 2018, which exceeds previous guidance.
As a result, the company expects 2017/18 underlying profit to be moderately ahead of the consensus.
Sainsbury's shares are currently up 1.7% at 252.6 pence after this trading statement.
Copyright (c) 2018 CercleFinance.com. All rights reserved.