Image copyright Getty ImagesThe failed bid to merge with rival Asda cost Sainsbury’s £46m, the supermarket giant has said.
In April, a proposed merger between Sainsbury’s and Asda was blocked by the UK’s competition watchdog over fears it would raise prices for consumers.
Sainsbury’s said that like-for-like sales growth continued to slow in the fourth quarter, especially over the Christmas period.
It added it would accelerate investment in its store estate and technology.
Fourth-quarter sales fell 0.9%, having fallen 1.1% over Christmas.
Content provided by the BBC. Original piece can be found here https://www.bbc.co.uk/news/business-48117358
