Mike Dennis Comments: WINNERS & LOSERS SUMMARY: Sainsbury’s Dips, But Sports Direct Gains

 January 13, 2016, London South East – Online 

J Sainsbury, down 1.3%. The grocer reported growth in total retail sales excluding fuel in its third quarter as the number of customer transactions rose, although like-for-like sales fell. Sainsbury’s said total retail sales in the 15 weeks ended January 9 grew 0.8% excluding fuel, although they fell 0.7% including fuel. Like-for-like retail sales, meanwhile, declined 0.4% excluding fuel and 1.8% including fuel. Sainsbury’s added that over 30 million customer transactions were made in the week before Christmas, which was up 2.6% year-on-year. Cantor Fitzgerald analyst Mike Dennis said the like-for-like performance excluding fuel came in ahead of the market consensus of a 0.7% decline and Cantor’s own forecast of a 1.5% fall.