Sainsbury 2Q Retail Sales Fall 2.8%; Est. 3.3%

Sainsbury's reported a smaller-than-expected decline in same-store sales, marking the third consecutive quarterly drop after nine years of growth. CEO Mike Coupe highlighted the competitive market, particularly from German discounters ALDI and Lidl. Sainsbury's is responding by cutting prices and re-entering the budget store market with the Netto format.

What was the percentage decline in same store sales for Sainsbury in the last period?

How many consecutive quarterly drops has Sainsbury experienced?

What does CEO Mike Coupe say about the market?

Which two German discounters are mentioned as competitors to Sainsbury?

What strategy is Sainsbury implementing to compete in the budget store market?