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General merchandise warning overshadows Sainsbury's Christmas sales beat

Reuters  |  LONDON 

By James DaveyLONDON (Reuters) - British supermarket group Sainsbury's cautioned on Wednesday that the market for general merchandise and clothing would be tough in 2018, taking the shine off a slight upgrade to its forecast for annual profit.With Britons under pressure from slow wage growth compounded by higher inflation, company updates and survey data this month show they cut back on almost everything other than food purchases in the run-up to Christmas.Sainsbury's, which extended its product range when it bought toys and electricals retailer Argos for 1.1 billion pounds ($1.5 billion) ...

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First Published: Wed, January 10 2018. 17:30 IST