Sainsbury boosted by weather as Argos buy pays off

Early summer barbecues and higher prices proved a potent combination for UK supermarket chain Sainsbury, as its acquisition of Argos appears to be paying off.

As sweltering temperatures lifted demand for everything from burgers to paddling pools, like-for-like retail sales rose 2.3% in its first financial quarter, Sainsbury said, beating analysts’ estimates.

While boosted by the weather and Brexit-fueled food-price inflation, the sales also provided backing for the strategy of chief executive Mike Coupe, whose £1.4bn (€1.59bn) takeover of Argos last year initially drew investor scepticism.