Online and Fast Track delivery boost at Argos

Supermarket chain Sainsbury’s has reported a growth in third quarter sales with Argos experiencing an uptick for the third straight quarter.

According to its latest trading update for the 15 weeks to 2 January 2021, overall sales were up 6.8% with like-for-like sales up 8.6%. Christmas like-for-like sales rose 9.3%.

As for Argos, sales rose 8.4%, adding to its positive growth of 10.7% and 10.9% in the first and second quarters respectively.

Almost 90% of Argos sales started online while its Fast Track delivery grew by 62%.

“Argos growth was driven by a strong performance across a wide variety of categories, with particularly good growth in Christmas gifting, gaming consoles and TVs. This was despite a Black Friday performance which reflected a continued reduction in promotional activity in favour of lower everyday prices,” the company said.

Sainsbury’s said that it expects pre-tax profit to be at least £330m in the financial year to March 2021, down from £586m the previous year.

Simon Roberts, Chief Executive of J Sainsbury plc, added: “Argos sales were up over eight per cent with Fast Track home delivery and Click & Collect beating expectations for Black Friday and Christmas.”