LONDON Jan 11 Sainsbury's, Britain's
second biggest supermarket, on Wednesday beat forecasts for
underlying sales in its Christmas quarter and said it was well
placed for 2017.
The firm, which last year purchased Argos-owner Home Retail,
said sales at stores open over a year rose 0.1 percent,
excluding fuel, in the 15 weeks to Jan. 7, its fiscal third
That compared to analysts' average forecast of a fall of 0.8
percent and a second quarter decline of 1.1 percent.
Argos' like-for-like sales rose 4.0 percent.
"The market remains very competitive and the impact of the
devaluation of sterling remains uncertain," said Chief Executive
"However, we are well placed to navigate the external
environment and remain focused on delivering our strategy."
(Reporting by James Davey; editing by Kate Holton)