Bakkavor confirms full year expectations in “robust” update
In a full year trading update, the group said like-for-like revenues had risen 3.2% compared to 2017
Company
LON:SBRY
J Sainsbury PLC is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
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In a full year trading update, the group said like-for-like revenues had risen 3.2% compared to 2017
The group reported on Friday that in the six weeks to 30 December, UK sales rose 8% year-on-year
Below we provide a cut-out-and-keep guide to the major quoted retailers and how the quoted retailers performed
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The day includes trading updates from retailers Moss Bros and AO World, plus UK gross domestic product data and US inflation figures
Analysts had said that Tesco would be the best of its peers, and its cheaper own brands and price promotions helped to attract increasingly value savvy shoppers
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The Footsie has been dipping below and above the 6,800 mark throughout the day
Admittedly, the bar hasn't been set too high but the consensus among City number crunchers is that Tesco should have performed better than its rivals over Christmas
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“Debenhams hasn’t updated on trading since 25 October and we know from many of its competitors that November was a terrible month for retailers and December is also likely to have been a struggle”
“The big question now is what will happen to Sainsbury’s if it doesn’t merge with Asda,” said Russ Mould, investment director at AJ Bell
"Retail markets are highly competitive and very promotional and the consumer outlook continues to be uncertain," said Sainsbury's boss Mike Coupe.
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The UK blue-chip benchmark added around 45 points at 6,906, while FTSE 250 surged even higher.
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The post-Christmas assessment of the high street will carry on unabated on Wednesday, with updates expected from Ted Baker, Topps Tiles and Majestic Wines
Sales at Sainsbury’s, which has agreed to buy Asda, fell 0.4% in the 12 weeks to December 30, Kantar Woldpanel said
Like-for-like sales narrowly beat analyst forecasts, but confirmation that Aldi and Lidl are continuing to win over shoppers is likely to make investors a little bit nervous
Investments and investor services
Trade talks between China and the US are said to be going very well, which has lit a fire under US equities
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The update comes after Bradford-based Morrisons on Monday said it would cut an average of 20% from the prices of 900 products, including “store cupboard favourites”
Aldi sold almost £1bn worth of food and drink in the run-up to the holiday season, and Morrisons has responded by slashing the prices of more than 900 products
Investments and investor services
The FTSE 250 on the other hand, a better gauge of UK companies, added over 180 points at 17,976
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The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
Investments and investor services
For Ocado, it was a case of "eat my shorts" as short sellers got burnt while for BATS, not enough cigarettes got burnt as e-cigarettes rose in popularity