MARKET TALK: Sainsbury 1Q Slightly Disappointing - Analyst

16th Jun 2010 07:23

0623 GMT [Dow Jones] J Sainsbury's (SBRY.LN) 1Q update is slightly disappointing, says an analyst. The analyst notes that on a VAT-inclusive basis, the 1.1% like-for-like sales excluding petrol, is exactly the same as that which Tesco (TSCO.LN) achieved, despite the extra two weeks of trading Sainsbury enjoyed, pre World Cup. Still, the analyst says the new space growth is pleasing. Shares closed Tuesday at 324p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 16, 2010 02:23 ET (06:23 GMT)