mid-cap

Market Update On One Retail Stock - SBRY

Jul 03, 2024 | Team Kalkine

Read Time :10 Mins

Market Update On One Retail Stock - SBRY

SBRY:LSE
Investment Type

Mid - Cap
Risk Level
Action
Rec. Price (GBX)

J Sainsbury PLC

J Sainsbury PLC (LSE: SBRY) is an FTSE 100 index listed food retailer that operates over 600 supermarkets, and 900 convenience stores, and employs around 189,000 people.

Q1 FY25 Trading Statement (Released on 02 July 2024)

Financial Update: The company reported an increase of 2.6% in the total sales (excluding fuel) whereas the Like for Like sales improved by 3.0% for Q1 FY25. This was due to the grocery momentum remaining strong with a second consecutive year of volume growth, driven by customer response to the value, innovation, and high quality.
Operational Highlights: The company has initiated its previously announced GBP 200 mn share buyback program, set for completion in FY24/25. Additionally, it plans to return at least GBP 250 mn to shareholders following the completion of the sale of Sainsbury's Bank's Core Banking Business to NatWest and the establishment of a new model for Argos Financial Services.
Outlook: Despite challenging weather conditions in recent weeks, volume growth has continued as inflation has slowed. Also, the management expects FY24/25 Retail underlying operating profit to be between GBP 1,010 mn and GBP 1,060 mn, representing a growth of 5% to 10% compared to FY23/24. Further, the group anticipates to generate a minimum of GBP 500 mn in Retail free cash flow.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

J Sainsbury PLC (LSE: SBRY) was trading at the current market price of GBX 251.40 (as of 03 July 2024, 08:40 AM, GMT+1)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 03 July 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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Past performance is not a reliable indicator of future performance.