Sainsbury’s, boohoo.com and AO World

“The FTSE 100 made a lacklustre start following mixed overnight performances on Wall Street and in Asia after the World Bank cut its global growth forecasts,” says AJ Bell Investment Director Russ Mould.

“Supermarket giant Sainsbury’s led the blue-chip board in early trading after a better-than-expected first quarter. The fall in like-for-like retail sales was far less than some forecasts but it cannot rest on its laurels with the market set to remain fiercely competitive for the foreseeable future.

“Food price deflation continues to have an impact on sales and there are concerns it could be distracted from its core business during the integration of Argos. But general merchandise and clothing continue to perform well and it is seeing see encouraging results from Sainsbury's Bank.

“Online fashion retailer boohoo.com expects full-year sales to be up by 25-30% after a strong first quarter. The group is seeing revenue growth in all geographic regions and profitability has improved as marketing expenditure, as a percentage of revenue, has been reduced.

“AO World's revenues jumped by more than 25% as it continues to expand. The online electrical retailer saw continued growth in the UK while the German business gained traction. It is now expanding into the Netherlands and will launch into computing this year.”

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