Key facts
- Established store sales increased by 3% in the three months ending June 22.
- Argos sales fell by 6.2% in the same quarter.
- Grocery sales growth slowed to 4.8%.
- Online sales accounted for 14% of total sales.
Sainsbury's has reported a slowdown in sales growth, with established stores seeing a 3% increase in the three months ending June 22, a decrease from the 4.8% rise in the previous quarter. The company cited easing food inflation, cautious consumer spending due to the cost of living crisis, and unseasonal weather impacting non-food items as reasons for the slowdown. Argos, a subsidiary of Sainsbury's, experienced a 6.2% sales decline in the same period. Despite these headwinds, Sainsbury's stated that its food business is performing strongly and it continues to gain market share, with online sales accounting for 14% of total revenue.