J Sainsbury PLC's (LSE:SBRY) first-quarter update was good enough to reassure, but not strong enough to change the argument materially. Jefferies called the statement a “slight beat”, with grocery and Argos both ahead of consensus, offset by a weaker performance in general merchandise and clothing.
The company backed its full-year guidance, but warned that the impact of the Middle East conflict on its customers and business remained uncertain.
J Sainsbury PLC (LSE:SBRY) reported another quarter of market share gains and stuck with its full-year guidance despite warning that the conflict in the Middle East had increased uncertainty. Britain's second-largest supermarket posted a first-quarter update for the 16 weeks to 20 June showing total retail sales excluding fuel up 2.7%, with like-for-like sales up 2.1%.
Tesco PLC (LSE:TSCO) and J Sainsbury PLC (LSE:SBRY) appear to have lost ground to rivals in the latest grocery market data, although analysts remain broadly positive on the outlook for the UK's biggest supermarket groups. Figures from Worldpanel by Numerator showed Tesco's sales rose 1.7% in the four weeks to 14 June, while Sainsbury's increased 3.2%.
Vodafone Group PLC (LSE:VOD) and J Sainsbury PLC (LSE:SBRY) led the FTSE 100 fallers on Thursday after their shares went ex-dividend. The index was hit by a 3.5-point drag from five companies' shares trading ex-div.