Sainsbury’s (LSE: SBRY) 3Q19 Trading Update: Lower Holiday Promotions Weigh on Top Line
- UK grocery retailer Sainsbury’s reported a 1.1% decline in comparable sales for 3Q19,below the consensus of 0.3%.
- The company grew total grocery sales by 4%, with online groceries up 6.0% and convenience store sales up 3.0%.
- Total general merchandise sales, which includes Argos, declined 2.3%. Clothing sales fell2%.
3Q19 Trading Update Sainsbury’s, the U.K.’s second-biggest grocery retailer, reported its trading update for 15 weeks ended January 5, 2019. Group comparable
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