J Sainsbury's Argos unit fared better than expected in the first quarter, while the U.K. grocer reported an encouraging set of sales figures overall, Bernstein analysts write. Argos posted a 0.5% fall in sales, with its performance cushioned by sales of fans during warmer weather, and televisions for the World Cup, the analysts say. The grocer continues to expect a full-year underlying operating profit of between 975 million and 1.075 billion pounds. Consensus expectations are currently in the middle of this range and are unlikely to move significantly on the sales figures, the analysts write. Shares rise 1.3% to 319.9 pence. (adam.whittaker@wsj.com)