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Sainsbury’s (LSE: SBRY) 1Q18 Update: Sales Lifted by Warm Summer

Executive Summary

  • The UK’s second-biggest grocery retailer, Sainsbury’s, posted 1Q18 comps of 2.3%, excluding fuel and including Argos in the prior year base.
  • Total sales increased by 2.7%, including Argos in the base and excluding fuel and the impact of the sale of Sainsbury’s pharmacy business.
  • Sainsbury’s reaffirmed its target to deliver £160 million in EBITDA synergies from the Argos acquisition by March 2019, and achieve £145 million in cost savings this fiscal year.

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