Advertisement
UK markets open in 3 hours 11 minutes

  • NIKKEI 225

    38,329.39
    +777.23 (+2.07%)
     

  • HANG SENG

    17,089.31
    +260.38 (+1.55%)
     

  • CRUDE OIL

    83.41
    +0.05 (+0.06%)
     

  • GOLD FUTURES

    2,337.80
    -4.30 (-0.18%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • Bitcoin GBP

    53,501.80
    +36.50 (+0.07%)
     

  • CMC Crypto 200

    1,434.14
    +19.38 (+1.37%)
     

  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     

  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Sainsbury's cautious on outlook as sales fall again

Reuters - UK Focus

LONDON, Sept 28 (Reuters) - Sainsbury (Amsterdam: SJ6.AS - news) 's, Britain's second biggest supermarket, on Wednesday reported another drop in quarterly underlying sales and cautioned that it did not expect a change to competitive market conditions any time soon.

The firm, which earlier this month completed its 1.4 billion pounds ($1.82 billion) takeover of Argos-owner Home Retail (Other OTC: HMRLF - news) , said sales at stores open over a year fell 1.1 percent, excluding fuel, in the 16 weeks to Sept. 24, its fiscal second quarter.

That was very slightly better than analysts' average forecast of down 1.2 percent and compared to a first quarter fall of 0.8 percent.

The firm said the decline was driven by food price deflation but highlighted like-for-like transaction growth across all channels and total volume growth.

ADVERTISEMENT

"We expect the market to remain competitive and the effect of the devaluation of sterling remains unclear," said Chief (Taiwan OTC: 3345.TWO - news) Executive Mike Coupe.

"However, Sainsbury's is well positioned to navigate the changing marketplace and we are confident that our strategy will enable us to continue to outperform our major peers." ($1 = 0.7682 pounds) (Reporting by James Davey; editing by Kate Holton)