Sainsbury's has reported a 0.4 per cent fall in like-for-like sales excluding fuel in the three months to 9 January compared with a year earlier.
Sainsbury's chief executive Mike Coupe said the supermarket had traded well in 'a highly competitive market'.
It is the second of the big four supermarkets to report sales over the Christmas period, after Morrisons announced yesterday (12 January) that it had performed better than analysts had expected, posting a 0.2 per cent rise in like-for-like sales in the nine weeks to 3 January.
Coupe said the 0.4 per cent decline in third quarter sales was an improvement on the previous two quarters, and he expects the second half of the financial year to be better than the first half.
But he warned that 'food deflation and pressures on pricing will ensure that the market remains challenging for the foreseeable future'.
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