Three things you need to know in the financial markets this morning from investment writer, Tony Cross
J Sainsbury LON:SBRY
Q1 numbers from Sainsbury are out this morning and they make for rather uninspiring reading. Sales have declined in every reported sector and although the company is keen to point out that its food performance relative to the market as a whole has improved, shareholders who are already showing angst over the current leadership of the company are unlikely to cut the company much slack.
Topps Tiles LON:TPT
Sticking with retail but looking at more of a niche play, Topps Tiles have published their latest quarterly results and the news is certainly upbeat. Sales are up 3.8% although it’s worth noting that this comes against a soft comparative, after a weak quarter for the same period last year. A series of strategic initiatives appear to be cementing the company’s go-to position in the market.
Purplebricks Group LON:PURP
Despite growing sales and improving margins, the full year numbers from Purplebricks show the company is continuing to accrue losses. The business is now focused on the UK and Canada, but the erosion of cash – which fell from £153m a year ago to £63m at the filing date – has the potential to be a cause for some concern.
