January 9, 2019 / 7:12 AM / 3 months ago

UK's Sainsbury's sales dip in Christmas quarter

LONDON, Jan 9 (Reuters) - Sainsbury’s, Britain’s No. 2 supermarket group that has agreed to take over No. 3 Asda , reported a worse-than-expected fall in underlying sales in the key Christmas quarter.

The group said on Wednesday like-for-like sales, excluding fuel, fell 1.1 percent in the 15 weeks to Jan. 5, its fiscal third quarter. That compares with analysts’ average forecast of a 0.2 percent fall and a second quarter rise of 1.0 percent.

Sainsbury’s cautioned that its markets are highly competitive and very promotional and the consumer outlook continued to be uncertain. (Reporting by James Davey; editing by Kate Holton)

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