Tuesday preview: Sainsbury's update, UK GDP in focus

29th Jun 2026 15:25

(Sharecast News) - On Tuesday, supermarket chain Sainsbury's will release a first-quarter trading statement, while Nike will report quarterly numbers in the US.

As far as the Sainsbury's update is concerned, UBS said it's looking for Q1 grocery growth of around 3.5%, in line with consensus and reflecting weaker industry data driven by weather, disinflation and stabilising improving competitors."

The bank said it expects the longer 16-week period to benefit from better late-May weather, though against tough comps.

Meanwhile, AJ Bell analysts Russ Mould and Danni Hewson said that having warned of falling fourth-quarter sales in March, which sent the shares flailing to decade lows, Nike will be hoping expectations have been set sufficiently low for a positive reception.

"The company has also flagged a one-off tariff refund boost which was not part of the prior downgraded guidance," they said. "The management team overhaul was completed with the recent appointment of ex-Pfizer CFO David Denton who starts in August in time to deliver fresh medium-term financial targets.

"While CEO Elliot Hill insists Nike's turnaround plan is a marathon rather than a sprint, investors are almost running on empty. They will be looking for confirmation of a margin recovery in fiscal 2027 and a credible path to sustainable sales growth. Older fans will be channelling Nike's classic motto 'Just Do It'."

On the macroeconomic front, first-quarter UK GDP figures and the US Chicago PMI for June will be among the highlights, along with JOLTS openings for May.