Sainsbury's: quarterly sales fall in 'challenging' market

(CercleFinance.com) - Sales have fallen at Sainsbury's over the last quarter, especially weighed on by falling clothing sales.


The supermarket's like-for-like sales, which strip out new stores and fuel sales, fell by 1.6% in the period to 29 June.

Sainsbury's said the market remained "challenging," "highly competitive" and "promotional," as the outlook for consumption remains "uncertain."

General merchandise sales were down 3.1%, with clothing sales falling 4.5%.

On a brighter note, Sainsbury's - whose merger with Asda was blocked by antitrust regulators - said it was improving its market share.

Sainsbury's shares were up 1.8% at 203.2 pence in morning trading. They have fallen by 23% year-to-date.

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