J Sainsbury plc announced sales results for the quarter of fifteen weeks ended January 6, 2018. For the period, the company reported like-for-like sales (excl. fuel) of 1.1% as compared to 1.0% same period last year. Like-for-like sales (inc. fuel) was 1.2% as compared to 2.2% same period last year. Total sales growth was 1.2% as compared to 1.6% same period last year.

While market conditions remain challenging and the company is cautious about the consumer environment in the year ahead, the company now expect to achieve £80 million -£85 million of EBITDA (£72 million-£77 million EBIT) synergies from the Argos acquisition by March 2018, ahead of their previous guidance of £65 million EBITDA (£58 million EBIT). As a consequence they expect 2017/18 underlying profit to be moderately ahead of published consensus.