J Sainsbury (SBRY) Q1 2027 TU earnings summary

Executive summary

• Achieved continued market share gains and volume growth by focusing on value, quality, availability, and service, outperforming the grocery market and key seasonal events.

• Strengthened competitive position with improved value perception, digital engagement, and innovation in fresh food.

• Achieved record customer satisfaction scores in both supermarkets and online grocery fulfillment.

Financial highlights

• Total retail sales growth (excluding fuel) was 3.1% year-over-year for Q1 2026/27; reported as 2.7% year-over-year to £9,153 million for the 16 weeks to 20 June 2026.

• Grocery sales grew 3.6% year-over-year to £7,603 million; Argos sales declined by 0.5% to £1,114 million.

• General Merchandise & Clothing sales declined 3.7% to £438 million.

• Like-for-like sales (excluding fuel) up 2.1% year-over-year.

• Fuel sales declined by 3.7% year-over-year.

Outlook and guidance

• Continued investment in technology, automation, and store digitisation to drive productivity and cost reduction.

• Expect to continue outperforming the grocery market, with underlying operating profit guidance of £975–1,075 million and retail free cash flow over £500 million for 2026/27.

• Cautious on potential impacts from Middle East conflict on customers and business.