Sainbury issued a promising trading statement last week but why no mention of margins? It's not alone with all the other multiples reluctant to cover margins in their quarterly updates. Good see that Marks gives them a mention.
Commentary at www.investorschampion.com

didn't realise divi was that much, but fairly unusual for sp to fall significantly more than the nett of the divi

probably bid coming...heard a whisper

Right O!

J Sainsbury has announced that Val Gooding, Non-Executive Director, will stand down from the Board at the Company's AGM on 13 July 2011. She has been appointed as Chairman of Premier Farnell PLC and due to her increased time commitments has decided to step down from the Board of J Sainsbury plc.

RNS Number : 4461I

Sainsbury(J) PLC

15 June 2011

15 June 2011

First Quarter Trading Statement for the 12 weeks to 11 June 2011

Solid sales performance in a challenging market

-- Total sales for first quarter up 7.3 per cent (4.3 per cent excluding fuel)(1)

-- Like-for-like sales for first quarter up 4.8 per cent (1.9 per cent excluding fuel)(1)

-- Strong customer growth - weekly transactions up 5 per cent to 22 million(2)

Justin King, Chief Executive, said, "We've delivered a solid sales performance, in line with our expectations, in spite of the continued tough consumer environment. Fuel price inflation combined with strong fuel volume growth resulted in an increase in total sales of 7.3 per cent, with like-for-like sales up 4.8 per cent. Excluding fuel, total sales were up 4.3 per cent, with like-for-like sales up 1.9 per cent."

Despite the tough economic conditions our customers celebrated Easter, the Royal Wedding and the glorious weather in April, playing to our strength of supporting family occasions. We sold nearly 300 miles of bunting, 159,000 flags and 49,000 mugs. Hot cross bun sales increased 29 per cent and we sold the most champagne we have ever sold outside of Christmas.

While demonstrating a willingness to treat themselves on these family occasions, our customers continue to manage their spend carefully. The increase in fuel costs is placing further pressure on consumer disposable income. One way our customers are keeping the cost of their shopping low is through buying Sainsbury's own label ranges. Our three key own label ranges, basics, by Sainsbury's, and Taste the Difference, all saw volume and sales growth in the period. Basics is our fastest-growing brand, and is now number two in the value market with 22.3 per cent market share.(3) At the end of the quarter we had re-launched over 1,500 products from our core own label range, by Sainsbury's, of which almost 80 per cent are either new or improved. Since its relaunch in September Taste the Difference has gone from strength to strength, winning eight gold awards at the Grocer Own Label Food & Drink Awards, making Sainsbury's the most successful retailer with twelve gold awards in total.

We continue to find new ways to help our customers, and in the quarter we launched our new Feed Your Family for GBP50 meal planner, which provides a family of four with 21 tasty and nutritious home cooked meals. Customer response has been very positive and since the launch in May over one million customers have logged on to the website to learn more. Products featured in the planner have seen sales and volume uplifts of over 20 per cent.

Our general merchandise and clothing offer grew faster than food, despite a very tough market. This quarter we celebrated our biggest childrenswear sales week ever, and were the number one retailer for The King's Speech DVD, where we achieved a record market share of 34 per cent in the week of its release.

The convenience business grew at 20 per cent, underpinned by strong like-for-like growth, and our groceries online business grew at over 20 per cent. General merchandise online continued to grow strongly, supported by the accelerated roll-out of the Click & Collect service to a further 240 stores, including convenience stores. This brings the total Click & Collect stores to 400, a big step towards our objective of 800 stores by Christmas.

We grew space in line with our plans, opening two new supermarkets, one replacement, three extensions and 13 convenience stores, in total adding 209,000 sq ft of gross space to our estate.(4) We continue to extend our offer successfully to new customers across the UK, with a replacement store in Wakefield and extensions to stores in Cardiff, Scunthorpe and Ballymena, illustrating the universal customer appeal of the Sainsbury's brand.

The market environment remains very competitive, reflecting the challenging economic backdrop. We expect this to be the case throughout the year. Sainsbury's will continue to help our customers to manage their weekly spend and still enjoy great quality products, whilst at the same time investing for future growth in space, non-food and our online business.

Not far off s p parity with MRW, closest I've seen it. Which is the better buy I wonder?
2517

Decided on SBRY @ 302.70
2517

Our local Sainsbury's is to get a massive extension from single storey to two-storey with extra parking at rooftop level.

Unlike me, my wife has tried to stay loyal to them, and I have often argued against this with regard to this local store - but she did insist and won the day mostly.

We were there yesterday doing a shop and the existing interior is now just about falling apart because of lack of maintenance and poor staff attitude, whilst they put most things off and wait for the new stuff that will come with the "new store". It will be about double the size and everything will then be all brand new. Turnover will double from 1.25m per week to about 2-2.75m per week.

I have frequently asked my wife to 'open her eyes a bit wider' around the place. When she did on this visit she saw one side of a whole aisle of greengroceries that had been taken out of service. It also looked like every one of the fronts to the floor level cabinets to these units had been severly bashed/dented by an aggressive floor polisher machine. This was a truly disgusting and amazing site!

Anyhow, after me complaining yet again to their CS, and for about the 10th time on the state of the Gents loo, she has finally capitulated and we have now decided that enough is enough for this Sainsbury's store in its present state.

I read between the lines that Sainsbury's have actually 'fallen out' with Jamie Oliver.

We took the opportunity to stock up with Jamie's Pasta sauce from his new range as they slashed the price to 1/2 price. I do recommend this to you (go for the one with Chili and add your own basil).

As an alternative to Jamie they have signed a deal with Lorraine Pascalle, who is a very delightful and dishy young black/mixed race lady. She is into 'baking and cakes and stuff'. Jamie was into everything except any of all that.

Will Lorraine be a good move? We think not. But she will better to look at and undoubtedly be less costly. Jamie is now roughly worth more than Sainsbury's!

SBRY are constantly playing catch up no innovation, no imagination... going no where.

Thanks for those cheery words guys, sp should start to motor then.
2517

Could fall to 260p.

Price wars with Tesco and Asda will undermine all food retailers previoulsy immune to the slow-down.

My 'foot' in the sector is TSCO and I will hold for now.

TSCO v SBRY.

Sainsburys pay a dividend of 6% which is a better retutn than the building societies.

There are plenty of high yielders about atm - many less volatile (boring?) have a look at VOD which has an extra dividend coming early next year from its Verizon interests.

Mitzy if you are looking at low(er) risk yielding stocks - have a look at some of these - no advice given or intended.

SDV current yield 6.8%
SHRS 7.02%
ISG 9.05%
GACA
MKLW 5.7%
HICL 5.8%
JLIF

High yielding but a risk atm are many of the insurers.

AV - current yield 8.97%
RSA - 8.11%
SL. 6.52%

Will take a look thanks.

40p lower than my purchase 7 weeks ago, I thought they were cheap then so will pick up more. Maybe 2nd qtr 'like for like' is not as good as the 1st qtr. I believe SBRY own their stores as well, so mkt cap is below nav, throw in the juicy divi and possible return of t/o chatter, and the sp could improve somewhat.
2517

Not a holder here George but should they fall to 240p I will buy some in view of the fact their property is worth twice the presnt share price.

Having problems holding above 260p I think.




Worth buying @240p.