J Sainsbury PLC (LSE:SBRY) did a lot right in 2023 and when it came to reporting its Christmas figures it seemed like it was continuing in the right direction. Sales growth was strong due to strong grocery demand; its outlook for 2024 was reiterated; its ‘Food First’ strategy is coming along nicely; and it even picked three percentage points of market share along the way. So why have shares dropped more than 6%? Too much optimism It should be noted that this slip comes at a time when Sainsbury’s shares are ...