LONDON, June 23, 2026, 14:05 BST
J Sainsbury held steady in the afternoon session after two surveys pointed to more grocery market share for the UK grocer. Shares stood at 305.6 pence, up 0.03%, as of 14:03 BST on a 20-minute delay. Shares moved between 303.49 pence and 308.8 pence.
Defensive consumer-staples stocks gained over 1% as the FTSE 100 dropped 0.7% by 0919 GMT. London shares slipped with rate hike worries weighing on risk appetite, but sellers of everyday goods showed strength in the weaker market.
Sainsbury puts out its first-quarter trading update on June 30, and investors have to figure out if the latest external sales numbers give a hint of what’s coming in the company’s results.
Sainsbury’s sales rose 2.0% in the 12 weeks to June 14, lifting its market share by 10 basis points, Worldpanel by Numerator said. That’s one-hundredth of a percentage point. Tesco’s sales were up 1.2% but its share dropped by the same amount. Lidl and Ocado reported stronger growth with 8.6% and 13.5% gains. British grocery inflation slipped to 3.0% from 3.1%. Total market sales grew 2.4%, showing shoppers put fewer items in baskets as prices went higher.
Sainsbury’s saw some support from a separate NielsenIQ survey, which put its sales growth at 3.5% over 12 weeks, with market share up at 15.0%. NIQ data show supermarket sales rose 4.6% in the four weeks to June 13. But growth slowed after the late-May heatwave. “The economic outlook for September is still uncertain,” said Mike Watkins, NIQ’s head of retailer and business insight, pointing to pressure from higher mortgage, energy and food costs. NIQ
Sainsbury’s said its food business kept momentum going into the new year. Grocery sales climbed 5.2% in the year through February 28. Retail underlying operating profit slipped 1.1% to £1.025 billion as it took on cost inflation and put more into pricing. CEO Simon Roberts called it a “positive start” to the year in April. Sainsbury sees total underlying operating profit for 2026/27 between £975 million and £1.075 billion. Sainsburys
Sainsbury is backing shares with a buyback plan. The company started buying and cancelling its own stock in April, aiming for up to £300 million. The first £200 million part is expected to wrap up by September 11.
The outlook is still shaky, with soft consumer confidence and higher costs hanging over Sainsbury’s. The Argos unit, Sainsbury’s general-merchandise arm, relies more on discretionary spending than its food business. Sainsbury’s pointed to Middle East conflict concerns when it set a wide profit target back in April.
Shares closed up 1.77% on Monday at just under £3.06, beating the FTSE 100’s 0.72% gain. But the stock is still trading around 18% off its 52-week high from December. Traders see next week’s update as a possible mover either way.
Investors want to see that market-share gains are driven by higher volumes, not just deals and price cuts. Solid food results may help earnings hold up, but if Argos slows again or costs go up, that support could vanish.
