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Three Quick Facts: Sainsbury, Quiz and Young’s

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

#1. Sainsbury’s trading statement in line with expectations

J Sainsbury (LON:SBRY) has published a trading statement today, covering the 16 weeks to 25th June. Trading is in line with expectations, the outlook is unchanged and good grocery volume market share is reported. The comparatives are challenging because they straddle a lockdown reopening period from last year and also need to take account of the rampant levels of inflation being seen. Total sales excluding fuel however are up 5.4% from 2019, something that is more than covered by inflation.

#2. Quiz full year results show modest profit

Final results from fashion brand Quiz (LON:QUIZ), which reported a close on doubling of revenue and by keeping a lid on operating costs has managed to convert last year’s pre-tax loss of almost £10m into a modest £0.8m profit. Revenue growth is now consistent with levels seen pre-COVID, and whilst the company acknowledges that inflationary pressures may take a toll later in the year, there’s confidence that long term profitability can be realised.

#3. Young’s trading statement highlights solid YoY growth, inflation risks well managed

Brewers Young’s & Co (LON:YNGA) have issued a trading statement ahead of today’s AGM. Revenues for the first 13 weeks of the financial year are up almost 40% on the 2021 figure, with a series of additions to the estate set to deliver further growth in the months ahead. The board believes the company is well placed to manage inflationary pressures but is mindful on how this could impact consumer sentiment. It is also noted that the strong balance sheet leaves the business well positioned to make further investments with an eye on quality returns in the long term.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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