Sainsbury's sees sees boost thanks to demand for clothing
Sainsbury's sees sees boost thanks to demand for clothing
Sainsbury beats analyst estimates as inflation helps to drive sales
05 July, 2017, 00:28
Argos has been the main driver for refocused retail giant J Sainsbury plc (LON:SBRY) since the acquisition of the catalogue-based high street stores group previous year but today's trading statement also showed a brighter performance from the group's grocery core though challenges remain.
Chief Executive Mike Coupe, commented that although the market remained "competitive", Sainsbury's remained commitment to ensuring to "manage cost price pressures closely", as high inflationary levels continue to drive up prices for shoppers.
In a trading update for the 16 weeks to 1 July 2017, the company said like-for-like retail sales increased 2.3 per cent, excluding fuel but including the results of Argos.
Sainsbury's also opened one newsupermarket alongside 10 new convenience stores as it pushes for expansion in the sector.
Clothing sales also shot up 7%, as its general merchandise sales were bolstered by the inclusion of Argos's figures.
Demand for deals on British strawberries and its summer eating range also boosted grocery sales.
Too many Windows 10 feature updates?
Now it seems like Timeline won't reach most Windows 10 users for a while. This group of users will get a notification and prompt to "update now".
Oil Prices Move Higher on Signs of Moderating US Output
Mohammed bin Salman, now Crown Prince, has been promoting a program to diversify Saudi Arabia away from its dependence on crude. Crude oil prices keep up the rally for the week, though several analysts are saying the markets may start to pump the brakes.
Maitama Sule - Kano Declares Tuesday Work Free Day
He said the clarity of his voice and vision contributed significantly to the high esteem and respect Nigeria earned at the UN. Shariff, said: "With a sorrowful heart, we announce the death of Alhaji Yusuf Maitama Sule, Danmasanin Kano this morning".
The retailer, which bought Argos [IRDX RARG] previous year, also saw general merchandise sales grow, while shoppers moved towards taking delivery of their products as quickly as possible.
But Laith Khalaf, senior analyst at Hargreaves Lansdown, said despite the strong results, the bigger picture remained challenging for the United Kingdom supermarkets as weaker sterling is pushing up food prices and the trading environment remains as competitive as ever.
"These results are the first to blur the progress of the two brands since last year's acquisition - but Sainsbury's no longer needs to hide behind Argos's success".
Sainsbury's and its major rivals - market leader Tesco, Asda and Morrisons - are grappling with the rapid growth of German discounters Aldi and Lidl, and having to deal with more expensive food imports due to the post-Brexit vote fall in the value of the pound.
Mr Coupe said it was the group's "best performance for a number of years".
He said: "The concern is that the acquisition is taking management's eye of the ball a little when it comes to delivering on the core supermarket offering at a time of intense competition".
The bond connect program with Hong Kong will give offshore investors another way to access China's US$10 trillion debt market. The aggregate trading volume was 7.05 billion yuan, the China Foreign Exchange Trade System said on its website.
More interesting news about St Jude Medical Inc (NYSE:STJ) was released by: Law360.com and their article: "Boston Scientific, St. Cincinnati Corp stated it has 2.42% of its portfolio in RPM International Inc. 60,258 are held by Arrow Limited Liability.
Hampton was onstage then on a break between sets, as seen in attendee Darryl Rankin's Facebook video from the audience. Gunfire was exchanged during a concert at the Power Ultra Lounge nightclub in Little Rock early on Saturday.
Nelson Van Denburg & Campbell Wealth Management Group Llc sold 17,768 shares as General Mtrs Co Com (GM)'s stock declined 12.09%. It is negative, as 89 investors sold CRM shares while 255 reduced holdings. 128 funds opened positions while 277 raised stakes.
Equities analysts anticipate that Marathon Petroleum Corporation will post $2.91 earnings per share for the current fiscal year. The Adage Capital Partners Gp Llc holds 316,500 shares with $5.48 million value, down from 933,300 last quarter.
The visit will come between the G20 summit in Hamburg next weekend and Bastille Day celebrations in France on July 14. As People reported, rumors of Trump's secret visit to the United Kingdom had protesters growing ready for him.
Reaching a compromise on the Horizon bill that is palatable to both Prieto and Christie could be key to breaking the deadlock. A key difference is the Senate bill does not directly grant the state access to Horizon's surplus.
TheU.S. does not have jurisdictions over foreign airports, but has authority over airlines that have direct USA bound flights. Etihad Airways is the only carrier that operates flights to the United States from Abu Dhabi International Airport.
A gangrape survivor was allegedly attacked with acid in Uttar Pradesh for the fourth time in eight years, police said on Sunday. Acid attacks on women are widespread in other South Asian countries also, including Bangladesh and Pakistan .
This after 10,000 people marched earlier in the day, protesting the gathering that brings together the world's leaders. He called on Gulf leaders urging them to resolve the current ongoing dispute with Qatar in a diplomatic manner.
The Union Government in March 2017 made Aadhaar card mandatory to file Income Tax Return (ITR) with effect from 1 July 2017. What if one fails to do Aadhaar-PAN linking? Go to http://www.incometaxindiaefiling.gov.in & tick on Link Aadhaar.
Samsung invests 16 billion euros in new chip factories
It took about two years of construction after breaking ground in May 2015 with a total of 15.6 trillion won worth of investment. Samsung also revealed in its statement that this investment would eventually create at least 440,000 jobs by 2021.
Hotshots help fawns from Goodwin Fire
Because of this intrusion , the airspace had to be immediately cleared due to the danger the drone posed to aircraft. Carpenter was arrested Friday afternoon after an off-duty deputy spotted his van on Willow Creek Road in Prescott.
Kanye West, Jay Z feud going legal
West reportedly knew nothing about those lyrics before they were released. He also claims that the company never reimbursed him for music videos.
Criticism of Jeff Horn unfair after controversial verdict
Arum said it was "a close fight". "I know Jeff would welcome the rematch, but I don't know Manny's future position", Arum said. Time catches up with all fighters, and it looked for long stretches in Sunday's fight like it finally caught up with him.
AAA: Gas prices fall another 5 cents in Florida
At $2.23, the average national price for a gallon of gasoline is the cheapest the country has seen all year, according to AAA . Right now, OH takes the top spot for monthly changes in gas prices from June to July with a 28 cent decrease.
Venus Williams Opens Up About Fatal Car Crash
At the time of going to print, reports emerged that Venus is being sued by the family of a man who died in the accident. A reporter asked Williams about the crash after her 6-4 win over Elise Mertens in the opening round at Wimbledon .