Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Sainsbury outperforms market at Christmas
Retailer J Sainsbury LON:SBRY has published Q3 numbers today covering the 16 weeks to January 7th. Like for like retail sales added 5.9% whilst Christmas sales advanced by 7.1%, outperforming the wider market and meaning that full year profits are now expected to come in towards the upper end of previously stated guidance.
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#2. JD Sports reports 10% revenue growth
JD Sports LON:JD. has published its Christmas trading update, covering the 22 weeks to 31st December. Total revenue growth for the period was 10%, with a significant uptick seen in the last six weeks of the year and North American stores a performing particularly well, too. Headline group profits are now tipped to come in at the upper end of expectations, with further growth envisioned for FY24.
#3. Nightcap: strong performance despite rail strikes
Bar operator Nightcap LON:NGHT has issued a trading update for the 26 weeks to January 1st. The company notes continued strong growth, with revenues up by almost 50% driven by expansion and despite the impact of train strikes on footfall. Management expect performance to continue in line with previous forecasts although note that further rail strikes or other disruptions could cause an issue here.
