Sainsbury’s Sees Sales Growth Lower In First Quarter
UK retailer Sainsbury’s has posted a marginal like-for-like sales increase of 0.2% in the first quarter of its financial year, with total retail sales (excluding fuel) rising by 0.8% for the period.
The retailer, which is in the process of securing a merger with Asda, said that grocery sales grew by 0.5% for the quarter, with online groceries and convenience retailing up 7.3% and 3.6%, respectively. Its general-merchandise sales, embodied largely by the Argos chain, grew by 1.7%.
The like-for-like sales performance is lower than that recorded in previous quarters. In Q4, for example, Sainsbury’s posted a 0.9% sales increase, while, in the same quarter last year, sales were up 2.3%.
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