Sainsbury has announced a strong H1 performance and an increase to its FY23/24 guidance. Q2 lfl sales grew by 6.6% (+50bp vs consensus), led by continued strength in the grocery business (noticeable market share gains and volume growth). However, clothing was weaker due to high promotional activity and unfavourable weather conditions. The adjusted EPS was c.5% ahead of the consensus. The management expects FY23/24 underlying PBT at the upper end of the guidance range and retail FCF of >£600m (vs ....
02 Nov 2023
First read: strong H1 (led by grocery) and guidance upgrade
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First read: strong H1 (led by grocery) and guidance upgrade
J Sainsbury plc (SBRY:LON) | 263 12.6 1.9% | Mkt Cap: 6,257m
- Published:
02 Nov 2023 -
Author:
Nishant Choudhary -
Pages:
3
Sainsbury has announced a strong H1 performance and an increase to its FY23/24 guidance. Q2 lfl sales grew by 6.6% (+50bp vs consensus), led by continued strength in the grocery business (noticeable market share gains and volume growth). However, clothing was weaker due to high promotional activity and unfavourable weather conditions. The adjusted EPS was c.5% ahead of the consensus. The management expects FY23/24 underlying PBT at the upper end of the guidance range and retail FCF of >£600m (vs ....