Iceland posts Christmas sales decline despite popular advert

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Iceland Christmas
// Iceland posts 1% like-for-like sales decline during Christmas trading period
// Sir Malcolm Walker warned before Christmas that trading had been slow
// Total sales increased by 3.5% during the period due to new store openings

Iceland has revealed a decline in like-for-like sales during the Christmas trading period despite the success of its Rang-Tan advert.

The supermarket reported its like-for-like sales went down by one per cent in the 16 weeks to January 4, according to a note sent in to Financial Times from bondholders.

However, total sales increased by 3.5 per cent during the period, which Iceland attributed to new store openings.

Iceland founder Sir Malcolm Walker warned before the festive period that trading had been slow.

The grocer generated publicity from its Rang-Tan Christmas advert, which focused on its decision to remove palm oil from own-brand items.

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