UK consumer spend hits Sainsbury’s sales and profit

British supermarket group Sainsbury’s has reported slower quarterly sales growth and a drop in first-half profit, as weak consumer spending in the UK and intense competition took their toll.

British supermarket group Sainsbury’s has reported slower quarterly sales growth and a drop in first-half profit, as weak consumer spending in the UK and intense competition took their toll.

Sainsbury’s and major UK rivals including market leader Tesco, Asda, and Morrisons are grappling with the rapid growth of discounters Aldi and Lidl.