Sainsbury’s reported strong third-quarter trading for the 16 weeks to 3 January, with total retail sales (excluding fuel) up 3.9% year-on-year, driven by a 5.4% increase in grocery sales.
The company achieved grocery market share gains for the sixth consecutive Christmas, with fresh food sales growing 8% and the premium Taste the Difference brand seeing 15% growth.
Despite a 1.1% decline in General Merchandise and Clothing, and a 1% drop at Argos, Sainsbury’s maintained its outlook for retail underlying operating profit exceeding £1 billion. The company reaffirmed its commitment to returning over £800 million to shareholders.
The figures follow positive festive trading statements from Marks & Spencer and Tesco.
Unite Students
Unite Students says 64% of beds are sold for the 2026/27 academic year, slightly behind last year’s 67%, but the company anticipates continued demand and rental growth of 2-3% for the upcoming academic year, compared to 4% in 2025/26.
The company has reiterated its full year guidance and said the acquisition of Empiric Student Property is expected to complete later this month.
Glencore-Rio Tinto
Mining and trading company Glencore has confirmed it is in preliminary merger discussions with Rio Tinto.
It could involve an all-share merger where Rio Tinto acquires Glencore via a court-sanctioned scheme of arrangement.
There is no certainty that any transaction or offer will be agreed upon, nor as to its terms or structure. Rio Tinto is required to announce a firm intention to make an offer or state its intention not to by 5pm on 5 February.
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