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Sainsbury's like-for-like sales down in King's last quarter

Sainsbury's like-for-like sales including fuel fell 2.4% in the first quarter of 2014, according to the company's trading statement. Total retail sales were up 1%. The report comes as Sainsbury's chief Justin King steps down after 10 years.

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How the retail landscape is changing for supermarkets

  • Tesco reported its worst sales figures for 40 years last week.
  • The British Retail Consortium reported food sales in the UK are declining for the first time in six years by 0.2%.
  • A recent survey from The Institute of Grocery Distribution estimates that between 2012 and 2017 sales at superstores will grow by just 6%, approximately £3.3bn.
  • Over the same period, takings at convenience formats are expected to rise by more than 28%.
  • Discount retailers will see a growth of 65% and online is expected to rise by a whopping 97.7%.

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