UK's Sainsbury rises after Q1 LFL sales beat estimates

J Sainsbury

Today 08:55

** Shares of British supermarket chain Sainsbury SBRY.L up 2% at 322 pence 
     ** Reports Q1 group ex fuel LFL of +2.1% % above Jefferies' estimate of 1.9%
** Co reports Q1 grocery sales up 3.6% above Jefferies' estimate of 3.4%
** Analysts at Bernstein said Sainsbury's reported "an overall encouraging set of results with continued strength in grocery and better than feared Argos performance."
     ** Co leaves its FY guidance unchanged
**  SBRY says impact of the conflict in the Middle East on customers and business remains uncertain 
** SBRY down ~2.83% YTD, as of last close


($1 = 0.7552 pounds)

 (Reporting by Megha Kumari in Bengaluru)
 ((Megha.Kumari@thomsonreuters.com;))