CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Fall in sales reported by Sainsbury 8217 s

Article By: ,  Financial Analyst
March 18, 2014 9:45 AM

The share price of Sainsbury's has fallen in the early stages of trading this morning (March 18th) on the back of the supermarket company's latest sales data.

Figures released by the firm show that in the ten weeks to March 15th, its like-for-like sales, which take away any trading at new stores, fell 3.1 per cent excluding fuel.

Falling food prices and a period of bad weather across the UK were among the reasons cited by the company for its dropping sales over the course of the ten-week period.

Chief executive of Sainsbury's Justin King pointed out that the company reported growth in like-for-like sales for 36 consecutive quarters before these new financial results.

"Of course it's disappointing, but it has to be put in context," Mr King told the BBC, adding Sainsbury's has also been able to maintain a 17 per cent market share in the last quarter.

He added: "Although some economic indicators are showing an improvement in the health of the economy, we expect the outlook for customers to continue to be challenging for the coming year."

Economic recovery

The UK's economy has been steadily recovering from the global financial crash and the long recession this caused, with consumers careful about how they spend their money as a result.

Sainsbury's rival supermarket chain Morrisons recently saw its share price lose more than ten per cent in just a few hours after it revealed its full financial results for 2013, which showed the company being slow to embrace online sales has cost it.

General merchandise and clothing were among the sectors Sainsbury's singled out as having performed well for the quarter, with menswear sales up 23 per cent year-on-year.

But the share price of the company was down by one per cent this morning on the back of the fall in its sales. By 08:30 GMT, stocks were one per cent lower compared to the start of the session and were still falling steadily.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024