Online competition and weak consumer confidence behind fall, although sales at group’s supermarkets rose
Sainsbury’s has blamed “significant headwinds” from weak consumer confidence, heavy online competition and widespread discounting for a fall in sales at its Argos chain over the all-important Christmas quarter.
The UK’s second-largest grocer said its supermarkets increased sales by 3.4% at established stores in the three months to 3 January but Argos sales fell 1% in the period.
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