Sainsbury’s (LSE: SBRY) 3Q19 Trading Update: Lower Holiday Promotions Weigh on Top Line

Executive Summary

• 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 fell 2%.