Sainsbury's Christmas bonanza fails to excite market

Sainsbury's may have enjoyed a record-breaking Christmas and increased its market share but investors did not share the firm's celebratory mood.

Sainsbury's may have enjoyed a record-breaking Christmas and increased its market share but investors did not share the firm's celebratory mood.

The company's shares were down 3.5% by 1030 as pessimists latched onto news that like-for-like sales growth of 0.9% in the third quarter had dropped markedly from the 1.9% rise in the previous three months.

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