DID THE RESULTS BOOST YOUR CONFIDENCE IN J SAINSBURY?
NICK BUBB PALI INTERNATIONAL
“The market may be disappointed that there was no new growth plan or strategy today, but management are excited about what “more of the same” can do to market share and profits in the future. And investors should be excited that the freehold property portfolio is still valued at over £7.5bn.”
ANDREW KASOULIS CREDIT SUISSE
“The good numbers, plus the strong and improving market share data since year-end, maybe suggest we should be adopting a more upbeat view. Time will tell if our high-end estimates are accurate. But, even if they are, we still do not think the shares look particularly attractive.”
SAM HART CHARLES STANLEY
“Obviously the results were right at the top end of expectations. This kind of outperformance in an economic environment like this is pretty impressive, but we have got to bear in mind that Sainsbury’s is still in turnaround mode. A lot of the results are coming as the company catches up. What we need to know is, can it be sustained?”