Deals
Sainsbury Shows Need for Asda Deal as Grocery Growth Slows
- Comparable retail sales rose 0.2% in the latest quarter
- Supermarket operator secures 3.5 billion pounds to buy Asda
This article is for subscribers only.
J Sainsbury Plc showed why it’s so eager to lead a consolidation push among the U.K.’s grocers.
Excluding fuel, Sainsbury’s comparable retail sales rose 0.2 percent in the 16 weeks through June 30, the London-based company said Wednesday. That met the average analyst estimate but marked the slowest growth since the company acquired catalog retailer Argos in 2016.