Shares in Sainsbury's fell 10.5p to close on 325.5p yesterday as the chain's first-quarter sales failed to meet analyst expectations.
Sainsbury's reported a 3.4% increase in first-quarter like-for-like sales, excluding fuel, but analysts had hoped for a figure nearer 4%.
“Although the figures were up against difficult comparatives, they are disappointing and show that customers are moving to more value-orientated retailers,” Seymour Pierce analyst Freddie George told The Times.
Meanwhile, Sainsbury's has temporarily frozen its online home delivery website due to a technical issue. The site has been down since Tuesday, affecting 10,000 shoppers.
Sainsbury's reported a 3.4% increase in first-quarter like-for-like sales, excluding fuel, but analysts had hoped for a figure nearer 4%.
“Although the figures were up against difficult comparatives, they are disappointing and show that customers are moving to more value-orientated retailers,” Seymour Pierce analyst Freddie George told The Times.
Meanwhile, Sainsbury's has temporarily frozen its online home delivery website due to a technical issue. The site has been down since Tuesday, affecting 10,000 shoppers.
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