J Sainsbury Stock News

J Sainsbury PLC (LSE:SBRY), the UK supermarket group, raised the lower end of its annual retail operating profit guidance after first-half earnings beat expectations, although grocery sales growth weakened during the summer. The company set a new guidance range of £1.025 billion to £1.065 billion for retail operating profit in the financial year, compared with an equivalent previous range of £9...

J Sainsbury PLC (LSE:SBRY) raised the lower end of its full-year profit guidance after first-half operating profit increased 4% as grocery volume growth and cost savings offset continued investment in prices and service. The supermarket group now expects underlying operating profit from continuing operations of between £1.03 billion and £1.07 billion, compared with its previous equivalent range...

Citi has opened a 30-day negative catalyst watch on J Sainsbury PLC (LSE:SBRY), the UK supermarket group, ahead of its half-year results, citing the growing competitive threat from Tesco PLC (LSE:TSCO)'s expansion into on-demand grocery delivery. Tesco launched on-demand grocery delivery through third-party platforms in August and September.

J Sainsbury PLC (LSE:SBRY)'s shares last closed at 322.9p, with Deutsche Bank retaining a 390p price target and a 'buy' rating despite low prospects for a near-term Morrisons deal. Deutsche Bank analyst Benjamin Yokyong-Zoega said Sainsbury's remains a logical strategic buyer in UK grocery retail, but Morrisons' debt burden and regulatory scrutiny are major obstacles.

Sainsbury's , Britain's second-largest grocer, held talks with smaller rival Morrisons about a merger earlier this ​year, according to media reports on Monday.

Deutsche Bank and Citi have both cut their second-quarter grocery sales forecasts for J Sainsbury PLC (LSE:SBRY)'s, the supermarket group, ahead of its half-year results on Thursday 22 October. Deutsche now expects grocery sales to grow 2.7% in the quarter, down from 4%, citing softer market data.

UBS has reiterated its backing for J Sainsbury PLC (LSE:SBRY), the UK's second-largest supermarket, arguing that strong execution should help it keep grabbing market share even in a sluggish grocery trade. The broker kept its buy rating and 395p price target, implying scope for the shares to climb almost a fifth from Friday's close of 335p.