Sainsbury's reveals poor performance

Sainsbury's has issued disappointing second quarter results, which sees it falling further behind market leader Tesco.

Although total sales for the troubled supermarket rose by 1.2 per cent, turnover fell to -0.2 per cent, when it had risen by 0.3 per cent in the first quarter.

Sir Peter Davis, the group's chief executive, was disappointed with the results but stressed that the group was building for the future. He said: “We are in the final stages of our ambitious business transformation programme involving a new IT infrastructure, new supply chain and modernised stores. Sales are being disrupted as we build solid foundations for future growth.”