As far as the Sainsbury’s update is concerned, UBS said it’s looking for Q1 grocery growth of around 3.5%, in line with consensus and reflecting weaker industry data driven by weather, disinflation and stabilising improving competitors.”
The bank said it expects the longer 16-week period to benefit from better late-May weather, though against tough comps.
Meanwhile, AJ Bell analysts Russ Mould and Danni Hewson said that having warned of falling fourth-quarter sales in March, which sent the shares flailing to decade lows, Nike will be hoping expectations have been set sufficiently low for a positive reception.
"The company has also flagged a one-off tariff refund boost which was not part of the prior downgraded guidance," they said. "The management team overhaul was completed with the recent appointment of ex-Pfizer CFO David Denton who starts in August in time to deliver fresh medium-term financial targets.
"While CEO Elliot Hill insists Nike’s turnaround plan is a marathon rather than a sprint, investors are almost running on empty. They will be looking for confirmation of a margin recovery in fiscal 2027 and a credible path to sustainable sales growth. Older fans will be channelling Nike’s classic motto ‘Just Do It’."
On the macroeconomic front, first-quarter UK GDP figures and the US Chicago PMI for June will be among the highlights, along with JOLTS openings for May.