Sainsbury's expects tough market to persist as sales fall again

Sainsbury's expects tough market to persist as sales fall again
 

Sainsbury's (SBRY.L), Britain's second biggest supermarket, on Wednesday reported another drop in quarterly underlying sales and cautioned that it did not expect a change to competitive market conditions any time soon.
The firm, which earlier this month completed its 1.4 billion pounds ($1.82 billion) takeover of Argos-owner Home Retail HOME.L, said sales at stores open over a year fell 1.1 percent, excluding fuel, in the 16 weeks to Sept. 24, its fiscal second quarter.
That was very slightly better than analysts' average forecast of down 1.2 percent and compared to a first quarter fall of... read more

 
28 September 2016 in Business, Views: 38
Source: Reuters
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