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Sainsbury's sales growth slows in latest quarter

Reuters  |  LONDON 

LONDON (Reuters) - Sainsbury's, Britain's second biggest supermarket group which agreed a 7.3 billion pound ($9.7 billion) takeover of rival Asda in April, saw sales growth slow in its latest quarter, reflecting price cuts in a competitive market.The firm said on Wednesday retail like-for-like sales, excluding fuel, rose 0.2 percent in the 16 weeks to June 30, its fiscal first quarter.That was ahead of analysts' average forecast for a fall of 0.1 percent but below growth of 0.9 percent in the previous quarter."The headline numbers reflect the level of price reductions we have made in key ...

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First Published: Wed, July 04 2018. 12:02 IST
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