Sainsbury’s (LSE: SBRY) 1Q19 Sales Update: Very Weak Growth Confirms Under performance Versus Peers

Executive Summary

• Sainsbury’s reported very weak comp growth of just 0.2% in 1Q19.
• General merchandise drove growth, with a sequential slowdown in grocery growth.
• For FY19, the consensus calls for Sainsbury’s to grow revenues by 1.1% and to post a very slight strengthening of its operating margin