Like most UK companies, British supermarket retailer J. Sainsbury reports profit data only at the half-year and full-year, and updates on sales growth each quarter.
Sainsbury’s reported comps of 2.3% in 1Q18, for the period ended July 1, excluding fuel and including general merchandise business Argos, which it acquired early last year. Total sales grew by 2.7% in the quarter, including Argos and stripping out fuel and the impact of the sale of its pharmacy business.
Excluding Argos from the base, and excluding fuel and the effects of the pharmacy business sale, total retail sales jumped 24.4%.
The below figures include Argos in the prior year base.
Sainsbury’s reaffirmed its target to deliver £160 million in EBITDA synergies from the Argos acquisition by March 2019, and achieve £145 million in cost savings this fiscal year.
For FY18, the consensus among analysts is for GAAP EPS of 15 pence, versus 17 pence in FY17. Analysts expect the company to grow total revenues in FY18 by 7.3% to £28.1 billion and increase EBITDA by 5.9% to £1.4 billion. These estimates were collated before the latest results were announced.