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People outside supermarket chain Sainsbury’s alongside Argos in Whitechapel, London, United Kingdom (photo by Mike Kemp/In Pictures via Getty Images). In Pictures via Getty Images Despite some recent consolidation, the Sainsbury’s share price seems to have finally broken free of its 300p ceiling on the back of its interim results. In fact, I believe the stock has more room to run. Super Half Sainsbury’s had a relatively good half. The retailer saw its revenue grow 2.8% to £17.58 billion. Absent fuel sales, which fell 11.3% to £1.94 billion, retail sales were up a whopping 4.8%. This was driven by grocery revenue growing 5.3% to £12.79 billion. The company has been reallocating and expanding more store space towards food from its ‘Food First’ strategy – and it’s working – with its highest H1 market share in 5 years. In general merchandise (GM), General Merchandise & Clothing (GMC) recorded sales growth of 3.3% to £804 million. This was thanks to good weather and continued strong momentum from its clothing line, Tu, as revenue grew by 7.8%. GM itself, however, remained a drag. This was the case with Argos, too, where sales increased 2.3% to £1.98 billion. However, financial services (FS) revenue did leap 14.0% to £65 million. Sainsbury’s bottom line turned out better than expected. Despite cost headwinds, the firm’s underlying operating profit margin still ticked up 11 basis points to 2.88%. This allowed underlying operating profit to rise 6.8% to £506 million. And although underlying net finance costs were broadly stable from last year at £166 million, share buybacks spurred underlying diluted earnings per share (EPS) to jump 12.1% to 10.2p. More In Store Therefore, it was perhaps not a surprise to see management upgrade their outlook for the year slightly. It now expects retail underlying operating profit to surpass the…

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Filed under: News - @ December 1, 2025 8:20 am