Sainsbury's Suffers Worst Xmas In A Decade

Sainsbury's has reported a 1.7% fall in like-for-like sales over its Christmas quarter - the worst performance for a decade.

The chain, which like its main 'Big Four' competitors has been losing business to hard discounters at the bottom and Waitrose at the top end, said like-for-like sales were down 3.9% when the effects of fuel sales were included.

Total sales fell by just 0.4% - reflecting the impact of its growing convenience store network in the past 12 months.

But the company warned that the outlook remained challenging, given the squeeze on the middle market, with the fall in food prices likely to continue.

The supermarket chain had confirmed on Monday that it was implementing cuts on 700 products this week to help counter the discount threat.

Sainsbury's said it enjoyed a record-breaking week before Christmas with 29.5 million customer transactions.

Chief executive Mike Coupe told Sky News that Sainsbury's had sold "the same amount of stuff we sold last year (at Christmas), but the prices were lower".

His statement said: "Sainsbury's has provided a great Christmas for our customers.

"Food price deflation and falling fuel prices have enabled our customers to treat themselves over the festive period."

The chain said its Taste the Difference range grew by five per cent year-on-year in the period with sales of its Conegliano Prosecco rising by more than 30%.

It sold over 57 million mince pies and over 550,000 turkeys, up 8% on last year.

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