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FTSE forward look: Could Tesco and Sainsbury's defy recession fears?

Investors’ expectations appear high ahead of the upcoming trading updates from supermarket giants and key SUPR tenants Tesco and Sainsbury's, despite ongoing cost-of-living pressures.

City AM: “The UK’s two biggest grocers are expected to disclose bumper Christmas sales despite continued pressure from the cost-of-living crisis.”

The trading updates will follow last week’s grocery market data published by Kantar, which showed UK grocery sales volume declined only 1%, despite 14% price inflation.

This resilience of demand demonstrates the defensive qualities of the grocery sector due to its non-discretionary nature, meaning consumers can cut back – but not cut out – on their grocery spending.

Read the full article here.

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