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Sainsbury (LSE: SBRY) 3Q17 Update: Modest Growth Beats Expectations

Executive Summary

  • Sainsbury’s, the UK’s second-largest grocery retailer, posted comps of 0.1% for 3Q17, marginally ahead of expectations of (0.8)%.
  • Total sales were up 0.8%, excluding fuel and the impact of pharmacy disposals.
  • Argos, which Sainsbury’s acquired in 2016, saw comps of 4.0% and total sales growth of 4.1%.
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