Sainsbury: stock upbeat after trading update
(CercleFinance.com) - The Sainsbury stock is up over 2% in London today, following the food retailer's presentation of retail sales that are up 0.
8% excluding fuel (+0.2% like-for-like) in its first accounting quarter (to end-June).
"The headline numbers reflect the level of price reductions we have made in key areas like fresh meat, fruit and vegetables since March," said the UK group's CEO Mike Coupe.
In addition, Sainsbury says it has entered into 3.5 billion pound financing for its merger with Asda, a subsidiary of the US retail giant Walmart in the UK, a deal that it announced alongside its 2017-18 results in late April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% excluding fuel (+0.2% like-for-like) in its first accounting quarter (to end-June).
"The headline numbers reflect the level of price reductions we have made in key areas like fresh meat, fruit and vegetables since March," said the UK group's CEO Mike Coupe.
In addition, Sainsbury says it has entered into 3.5 billion pound financing for its merger with Asda, a subsidiary of the US retail giant Walmart in the UK, a deal that it announced alongside its 2017-18 results in late April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.