Sainsbury is expected to report 2.2 per cent growth in like-for-like sales in the fourth quarter after data showed the supermarket increased its market share last month.
The grocer was the only one of the four largest UK supermarkets to see a rise in market share in February amid the horsemeat scandal, according the data from Kantar Worldpanel.
Spending at the British grocer rose 4.6% in the 12 weeks to February 17th and market share increased 17% from 16.9% a year earlier.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The other of the biggest four grocery stores - Tesco, Asda and Morrison Supermarkets - took a hit after being forced to remove beef products laced with horsemeat from their shelves.
Sainsbury's beef goods were found to be free of horsemeat following tests by the Food Standards Agency.
Stockbroker Jefferies International predicts the supermarket will report a strong fourth quarter and confirm current consensus expectations of £743m pre-tax profits for 2012/13.
The analyst highlighted the company's marketing efforts including Brand Match, an initiative which allows customers to compare the prices of brands at Sainsbury against rival supermarkets. Clients receive a coupon at the till if they can show they could have bought a brand for a lower price at Tesco or Asda.
"The group's marketing and trading initiatives have been well calibrated," the broker said.
"Brand Match (originally launched in October 2011) has certainly resonated in addressing Sainsbury's perceived weak price offering. Also, the company has traded through the 2012 events much more successfully than peers. However, we continue to look for more obvious signs that the business will pursue a less capital intensive strategy at a time when peers are signalling a reduced focus on space expansion."
Tuesday March 19
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Housing Starts (US) (12:30)
New Car Registrations (EU) (10:00)
ZEW Survey (EU) (10:00)
ZEW Survey (GER) (10:00)
Q3
Bango
GMS
Oxford Pharmascience Group
FINALS
BH Credit Catalysts Ltd Ord Red Shs NPV USD, Cairn Energy, Clarke (T.), Hydro International, HydroDec Group, Johnston Press, Mears Group, Optimal Pay, Source BioScience, UTV Media, Xaar
ANNUAL REPORT
William Hill
AGMS
Britvic, Brunner Inv Trust, Domino Printing Sciences, Wynnstay Group
TRADING ANNOUNCEMENTS
Sainsbury (J)
UK ECONOMIC ANNOUNCEMENTS
Consumer Price Index (09:30)
Producer Price Index (09:30)
Retail Price Index (09:30)
RD
-
10 vinyl records worth up to £10,000 - is one in your collection?News Vinyl is experiencing a resurgence and collectors will pay up to £10,000 for some albums - is it time to dust off your old records?
-
FCA: Banks are still short-changing savers
The latest FCA review finds that while public shaming has encouraged providers into offering better deals on savings, many of those with closed accounts are still being shortchanged.
