J Sainsbury, Britain’s third-largest grocer, reported the first drop in same-store sales in more than nine years as the supermarket owner joined its main rivals in succumbing to a shift away from the big chains.
Sales at stores open at least a year fell 3.1 per cent, excluding fuel, in the 10 weeks ended March 15, London-based Sainsbury said today in a statement. The fall was more than analysts had expected.
Sainsbury fell as much as...
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