By John Glenday

Sainsbury’s has found itself in the same boat as embattled rivals Tesco as it reports a decline in sales for the third quarter in a row, mirroring the downward drift seen at its chief competitor.

Like-for-like sales excluding fuel dipped 2.8 per cent in the three months to the end of September with horizon scanning showing no end in sight for the declines until next year at the earliest.

Chief executive Mike Coupe has blamed his firm’s troubles on ‘deflation’ as the retailer seeks to pare costs to fend off increasingly vociferous competition from discount retailers Aldi and Lidl.

John Ibbotson, director of Read full story ›

Source: The Drum