Sainsbury’s festive sales may have fallen but it could still be the best of the big supermarkets

Group sales fell by 0.7 per cent but CEO Mike Coupe’s business is showing signs of life, writes James Moore

Back in the money? Sainsbury’s Christmas trading was resilient (Reuters)

Given the recent history of Sainsbury’s, you could consider its festive trading update something of a result. It’s true that group sales falling by 0.7 per cent wouldn’t normally be considered anything to celebrate.

But Sainsbury’s was cast in the role of problem child among the big four grocery chains during much of last year, as its ambitious CEO Mike Coupe tried to pull off a mega merger with Asda that stood about as much chance of getting past the competition regulators as Jeremy Corbyn did of getting into Downing Street. Everyone knew that, with the exception of the extraordinarily well paid group of people directly connected to it.

Sainsbury’s day-to-day business clearly suffered as a result and it was reflected in the numbers the chain put out. But now the top team has its attention firmly fixed on the core offering, it’s starting to show some sings of life. This is something investors might care chew over alongside the leftover Taste the Difference turkey.