• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on July 1, 2025

    Featured image for article about Finance

    By Sarah Young

    LONDON (Reuters) -Sainsbury's reported a higher-than-expected rise in quarterly sales on Tuesday, as Britain's second-largest food retailer benefited from warm weather and a disruption at rival Marks & Spencer from a major cyber attack.

    Sainsbury's, which trails Tesco with a share of Britain's grocery market of more than 15%, said the performance kept it on track to meet annual forecasts, helping to lift its shares by 1.5% in early trading.

    For the 16 weeks to June 21, its UK like-for-like sales, excluding fuel, rose 4.7%, against a rise of 3.7% in the previous quarter, as a sunny spring drove spending across its food, clothing and Argos general merchandise brand.

    That was ahead of a consensus forecast of 3.4%, according to a note from Citi analysts.

    The period included a major cyber attack on rival M&S in April, which forced the retailer to take many of its ordering systems offline, reducing food availability and resulting in higher waste and logistics costs.

    Researcher NielsenIQ said last week that sales growth at M&S's food business had slowed during the 12 weeks to June 14, affecting its market share.

    Despite the strong performance, Sainsbury's continued to expect annual profit to remain unchanged from a year earlier, reflecting its pledge to sustain a competitive edge on prices.

    "We have great momentum, growing faster than the market for three consecutive years and we are well set to deliver another strong performance over the summer," Chief Executive Simon Roberts said in a statement.

    Sainsbury's kept guidance for retail underlying operating profit, its preferred measure, of around 1 billion pounds for its full year to March 2026, versus 1.04 billion pounds made in 2024/25.

    Its shares have surged 21% in the last three months, outperforming the FTSE 100 index, which is little changed.

    Last month, Tesco reported a better-than-expected 5.1% rise in UK underlying sales for its first quarter which ran to May 24.

    (Reporting by Sarah Young; Editing by Sachin Ravikumar and Bernadette Baum)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe