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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

J Sainsbury

There’s a Q1 trading statement out from J Sainsbury [LON:SBRY] this morning, showing sales for the 16 weeks to June 26th are up 1.6% year on year, and an impressive 10.3% on a two year basis. Clothing sales have been exceptionally strong, rising by more than 50% and given this straddles the period of non-essential retail reopening, this is likely to be seen as significant. Conversely, Argos sales were down year-on-year, given the tough comparatives, but a theme of general outperformance against the wider market may be sufficient to impress investors.

Ocado Group

Half year numbers from Ocado Group [LON:OCDO] have been published too, showing 20% growth in retail revenues, group EBITDA more than tripling to £60.1m and a continued roll out of customer fulfilment centres. Despite all that, profitability remains elusive, although losses for the period were just £23m, a notable improvement on the £40m recorded a year ago. Separately the company has also reported this morning that it has signed a deal with Alcampo of Spain to develop their online business using the Ocado Smart Platform.


Purplebricks Group

Full year numbers from online estate agents Purplebricks Group [LON:PURP] are out today, showing revenues up 13% and profits up 12%, numbers that whilst sounding impressive are essentially in line with underlying house price growth. Dig a bit deeper and the company has actually lost market share, but is pushing ahead with a new pricing structure that it believes will fare well as volumes normalise into the new year. Expectations are that annual revenue growth of more than 20% can be achieved in the medium term, something that certainly has the potential to cheer investors.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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