Trading Highlights
Strong sustained Grocery momentum with a second year of volume growth as customers continue to respond to our value, innovation and leading quality. Volume growth has remained strong as inflation has slowed, despite tough weather comparatives in recent weeks
Biggest market share gains of any grocer during the quarter1 with consistent net switching gains2 as more customers choose Sainsbury's for their main shop3
Sainsbury's General Merchandise and Clothing performance reflects improvement in clothing trend offset by weaker seasonal general merchandise sales
Argos sales declined against a particularly strong comparative period with significantly lower seasonal sales and weaker Consumer Electronics demand, notably in Gaming
Commenced previously announced £200 million share buyback programme, to be completed in FY24/25
Additionally expect to return at least £250 million to shareholders once the sale of Sainsbury's Bank's Core Banking Business to NatWest has completed and the future model for Argos Financial Services is in place
Continue to expect FY24/25 Retail underlying operating profit of between £1,010 million and £1,060 million, growth of between five per cent and ten per cent versus FY23/24, and to generate at least £500 million of Retail free cash flow
https://www.investegate.co.uk/announcem ... nt/8289133
Also posted on Company News here; viewtopic.php?p=672061#p672061
SBRY are down 1.5% on market opening in UK thus far, so the dividend yield's gone up
![Wink ;)](./images/smilies/icon_e_wink.gif)
I don't hold these in my HYP, but I think some here do, so this may be of interest here.
Ian.