Sainsbury's Sales Edge 0.1% Higher Amid 'Very Competitive' Market

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".

The UK's second biggest supermarket chain said it delivered a "good" Christmas performance in the 15 weeks to January 7, while robust Black Friday trading helped its recent Argos acquisition notch up a 4% hike in like-for-like sales.

Mike Coupe, group chief executive, said: "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."