Live updates

Advertisement

Sainsbury's sales boosted amid 'very competitive' market

The chain has a share of around 16.9% of the UK supermarket sector. Credit: PA

Sainsbury's has said like-for-like sales edged 0.1% higher over its Christmas quarter, but warned the market remains "very competitive" and the impact of the pound on prices was "uncertain".

Bosses at the UK's second biggest supermarket chain said it delivered a "good" Christmas performance in the 15 weeks to January 7, with groceries sales online growing by over 9%.

Robust Black Friday trading also helped its recent Argos acquisition notch up a 4% hike in like-for-like sales.

The market remains very competitive and the impact of the devaluation of sterling remains uncertain.

However, we are well placed to navigate the external environment and remain focused on delivering our strategy."

– Mike Coupe, Group Chief Executive

Advertisement

Sainsbury's takeover of Argos approved by CMA

Sainsbury's tabled a bid worth around £1.4 billion in February. Credit: PA

Sainsbury's proposed takeover of Argos owner Home Retail Group has been approved by the Competition and Markets Authority.

Sainsbury's tabled a bid worth around £1.4 billion in February.

A statement posted on the London Stock Exchange this morning said: "The CMA has decided, on the information currently available to it, not to refer the following merger to a Phase 2 investigation."

Home Retail chief executive John Walden will leave the group once Sainsbury's seals its acquisition, currently expected in the third quarter of this year.

Load more updates