Jul 3, 2019
Sainsbury's sees further sales slide
Supermarket giant Sainsbury's has warned that the consumer outlook continues to be uncertain after it saw a further slide in sales. In the 16 weeks to 29 June, its total retail sales excluding fuel fell by 1.2%. Like-for-like sales, which strip out the impact of new store openings, fell by 1.6%. Chief executive Mike Coupe complained of a "Tough trading environment" but said Sainsbury's was making progress. The supermarket is still reeling from its failed bid to merge with rival Asda, which was blocked in April by the UK's competition watchdog over fears it would raise prices for consumers.
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