Sainsbury’s share price rises despite first quarter sales fall

 

Sainsbury’s reported a fall in like-for-like sales over the last three months and warned of challenging times ahead.

With total sales looking steady and investors fearing the worst, however, shares jumped by 2.6% in early trading.

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Total retail sales at the retailer were up by 0.3%, excluding fuel, in the 12 weeks to 4 June, but down 0.8% on a like-for-like basis.

After including sales of petrol, the sales figures look even more disappointing with total sales down 0.1% and like-for like sales off by 1%.

Fuente: Fresh Plaza.


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