LONDON (dpa-AFX) - Sainsbury(J) Plc (JSAIY.PK, SBRY.L), a British supermarket chain, on Friday reported that the total retail sales and like-for-like sales for the third quarter or 16-week period ended January 4, 2025, remained flat.
For the 16-week period, the retailer posted total retail sales and like-for-like sales growth of 0.0 percent, including fuel. However, excluding fuel, the company registered total sales growth of 2.7 percent, with a like-for-like sales growth of 2.8 percent.
Exceeding all other segments, grocery retail sales registered a growth of 4.1 growth for the period, compared to 9.3 percent last year. Sainsbury's reported 3.7 percent increase in sales while it was 8.4 percent previous year third quarter.
Looking ahead to the full year, the Group projects its retail underlying operating profit in line with consensus and the midpoint of its 1.010 billion pounds to 1.060 billion pounds guidance range, representing growth of around seven percent.
This reflects continued operating leverage from Sainsbury's grocery volume growth, strong growth in Nectar profit contribution and delivery of cost saving targets.
The retailer now anticipates financial services underlying operating profit of around 30 million pounds, higher than earlier expectation for 15 million pounds to 25 million pounds.
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