Q1 2020 J Sainsbury PLC Trading Statement Call Transcript

Jul 03, 2019 / 07:45AM GMT

Release Date Price: $10.06 (-0.35%)

Transcript

Operator

Hello, and welcome to the analyst call Q1 2019/2020 with your host Mike Coupe. Please go ahead.

Michael Andrew Coupe

J Sainsbury plc - CEO, Chairman of the Operating Board & Executive Director

Good morning, everyone, and welcome to the Quarter 1 Sainsbury's Trading Update Call. I'm joined on the line by our CFO, Kevin O'Byrne, and I'm going to ask Kevin to run through some of our Q1 highlights in a moment and then we will hand over to you for our Q&A.

So Kevin, over to you.

Kevin O;Byrne

J Sainsbury plc - CFO, Member of the Operating Board & Director

' -

Thanks, Mike, and welcome, everyone. I'll now take you through the key numbers for our Q1 trading statement, which covers the 16 weeks to the 29th of June.

At a total retail level, sales, excluding fuel, decreased by 1.2% over the quarter with like-for-like sales down 1.6%. The contribution from new space was lower during the quarter as the pace of Argos and Sainsbury's store openings slowed considerably. Grocery sales

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