FTSE CLOSE: Sainsbury’s Christmas sales worse than feared; Mothercare flounders in-store and online; Greggs ups profit forecast as sales roll in
- Sainsbury’s sales fell 1.1% over Christmas, missing City predictions of a 0.2% dip
- Mothercare’s festive sales tumbled, with online down too, amid less discounting
- Greggs has upped its profit guidance to £88m and pledged to keep innovating
Sainsbury’s sales slipped 1.1 per cent over Christmas – steeper than the decline analysts were expecting for the UK’s second biggest supermarket.
Meanwhile, as retailer’s Christmas updates continue to pour in, Mothercare said its UK like-for-like sales slumped 11.4 per cent, with a whopping 16.3 per cent slide online, reflecting a ‘difficult consumer backdrop’ and less aggressive discounting than in the previous year.
And in better news, bakery chain Greggs has upped its profit guidance and pledged to continue innovating, a week after its new vegan sausage roll caused a stir.
Sainsbury’s sales slipped 1.1 per cent over Christmas – steeper than analysts were expecting