Sainsbury Sales Slow More Than Anticipated on Fuel Costs

J Sainsbury Plc, the U.K.’s third-largest supermarket owner, fell the most in almost two years in London trading after reporting sales that slowed more than analysts anticipated as higher fuel costs weighed on consumers.

The shares dropped as much as 6.7 percent after the London-based retailer said revenue at stores open at least a year rose 1 percent in the 10 weeks through March 19, including value-added tax and excluding gasoline sales. That was less than the 3.6 percent increase in the third quarter and missed the 2.1 percent median estimate of seven analysts surveyed by Bloomberg.