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| Name | Symbol | Market | Type |
|---|---|---|---|
| J Sainsbury Plc (QX) | USOTC:JSAIY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.18 | 1.38% | 13.19 | 13.14 | 13.55 | 13.19 | 13.00 | 13.01 | 39,475 | 18:16:00 |
From Jul 2019 to Jul 2024
By Adriano Marchese
J Sainsbury PLC (SBRY.LN) said Wednesday that total retail sales were down 1.2% in the first quarter of fiscal 2020, dragged down by a poor clothing business sales.
The second-largest U.K. grocer by market share said that on a like-for-like basis, sales excluding fuel were down 1.6% in the first quarter ended June 29, compared with 0.2% in the prior year's comparative period.
The company's clothing business took the biggest hit, seeing a decline in sales of 4.5% in the quarter compared with a rise of 0.8% during the previous year's equivalent period. General merchandise sales also fell 3.1%, while last year it rose 1.7% in the period. J Sainsbury blamed tougher competition and unseasonably poor weather.
J Sainsbury said that it is committed to reducing net debt by at least 600 million pounds ($757.1 million) over the next three years.
Write to Adriano Marchese at adriano.marchese@dowjones.com
(END) Dow Jones Newswires
July 03, 2019 02:36 ET (06:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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