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Sainsbury’s (LSE: SBRY) 3Q18 Update: Modest Comp Growth Exceeds Expectations

Executive Summary

  • UK grocery retailer Sainsbury’s reported comparable sales growth of 1.1% in 3Q18, ahead of the consensus estimate. This includes its general-merchandise banner Argos.
  • The company grew grocery sales by 2.3%, with online groceries up 8.2% and convenience store sales up 7.3%.
  • Sainsbury’s raised its guidance for full-year underlying profit.

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