Sainsbury's had a solid start to the year, with grocery sales outperforming the broader market, Hargreaves Lansdown's Aarin Chiekrie writes. The grocery performance offsets pains in its general merchandise business, he adds. The grocer's efforts to deliver value and quality have led to more customers shopping at Sainsbury's for their large weekly shop, he writes. Cost pressures are the main threat to monitor this year, he says. While oil prices are coming down, they could rise if tensions in the Middle East escalate again, he says. Shares rise 1.8% to 321.60 pence. (adam.whittaker@wsj.com)
Dow Jones Newswires
Sainsbury's Grocery Unit Drives Solid Start to Year — Market Talk
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Sainsbury's had a solid start to the year, with grocery sales outperforming the broader market, Hargreaves Lansdown's Aarin Chiekrie writes. The grocery performance offsets pains in its general merchandise business, he adds. The grocer's efforts to deliver value and quality have led to more custome…