Weekly outlook: Sainsbury’s fighting to protect market share
Key events for UK wealth managers for the week starting 3 July
Key events for UK wealth managers for the week starting 3 July
Sainsbury’s shares took off on Monday as it confirmed it had agreed to a takeover deal with Asda to potentially form the UK’s largest supermarket chain.
Sainsbury’s has upgraded its profit forecast after a “record” Christmas sales period, while Neil Woodford-owned Burford Capital teased markets with news of “strong growth” from its investments.
Sainsbury’s interim figures underwhelmed markets on Thursday but CityFibre’s shares were through the roof as it announced a new partnership with Vodafone.
Sainsbury’s surprised the market this morning by announcing a 2.3% increase in like-for-like retail sales in the first quarter.
Although Sainsbury’s acquisition of Argos parent company, Home Retail Group, helped curb the negative effects of weaker sterling and inflation, the group is bracing itself for a slowdown and a hit to retail sales.
Although Sainsbury’s posted a 0.4% decline in total retail sales, Argos was able to weather the tough retail environment, giving investors hope for Sainsbury’s new growth initiatives.
Sainsbury’s share price rose by 2% to 251p during morning trading on Wednesday following its better than anticipated first quarter update.
Too hot or too cold, UK retailers’ reasons for poor performance is becoming ever more like goldilocks’ adventures with porridge. So how many more excuses can investors weather?
Multi-faceted companies are the best way for investors in UK consumer spending to negotiate the backdrop of falling goods prices, according to Smith & Williamson’s Tineke Frikkee.