This ad will be closed automatically in X seconds.

Argos outperforms ‘weak’ general merch market

Sales grew strongly over Christmas says retailer, but declined overall in Q3.

Sainsbury’s has this morning released its third quarter trading statement for the 15 weeks to January 5, 2019.

Argos outperformed a ‘weak’ general merchandise market in the quarter, with strong sales growth in the key Christmas weeks.

However, over the quarter sales were impacted by a combination of cautious consumer spending and Sainsbury’s decision to reduce promotional activity across Black Friday.

This meant that for the quarter, general merchandise sales declined 2.3%, with Sainsbury’s stating that margins remain under pressure.

Clothing sales saw a slight dip of 0.2% during the period.

Mike Coupe, group chief executive of Sainsbury’s, said in a statement this morning that retail markets are “highly competitive and very promotional” and the consumer outlook continues to be uncertain.

He added: “However, we are well placed to navigate the external environment and remain focused on delivering our strategy.”

Argos’ Fast Track delivery service saw sales increase 8%, while Argos stores in Sainsbury’s supermarkets that have been open for more than one year grew like for like sales by over 10%.

Total retail sales for Sainsbury’s during the 15 week period were down 0.4% with like for like sales down 1.1%. Grocery sales grew 0.4%.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter.

MORE NEWS
LivyH&A500x500
 
H&A's Livy Coare on her biggest hope for Christmas and what she’s most looking forward to next year....
Reebok500x500
 
Authentic Brands Group has revealed a number of new strategic operating partners for key regions around the world following its acquisition of the Reebok brand....
HallsofIvy500x500
 
The new inclusive collection is accompanied by a marketing campaign with the tagline 'Welcome to the HALLS of IVY' and starring Beyoncé....
JJonesnew500x500
 
Redan Publishing's Julie Jones on her biggest hope for Christmas and what she’s most looking forward to next year....
HDnew500x500
 
“We’re thrilled to be continuing our glorious Duggee Adventure with BBC Studios and CBeebies."...
SmurfsMena500x500
 
Spacetoon has partnered with IMPS to bring The Smurfs brand back to MENA through the Spacetoon TV channel, branded events and a new toy range....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.