Sainsbury’s bids adieu to its cherished King July 9, 2014 Hundreds of Sainsbury’s shareholders gathered in Queen Elizabeth Hall yesterday for the Great Justin King Love-in, otherwise billed as the supermarket’s AGM. Van Morrison was blaring, there were “Goodbye Justin” t-shirts and the hall was packed with shareholders eager to bid farewell to their King (as it was actually his last day on the job). [...]
Justin King has his final party at Sainsbury’s July 3, 2014 Some might think it’s odd to listen to “White Christmas” and eat Brussels sprouts on the hottest day of the year, but certainly not Sainsbury’s staff. “It’s the third time we’ve had our Christmas review on the hottest day of the year – it’s something of a hat-trick,” chief Justin King told The Capitalist at [...]
Danish discount retailer Netto teams up with Sainsbury’s in UK return June 20, 2014 Danish international discount grocery retailer Netto is returning to the UK, teaming up with Sainsbury's as the supermarket chain attempts to take on rivals Aldi and Lidl. This is an attempt by Sainsbury's to reposition itself, via Netto, to tackle the burgeoning discount store market that has grown rapidly in recent years and started [...]
Justin King confident Sainsbury’s will still outperform June 11, 2014 Sainsbury’s outgoing chief executive Justin King said he was confident that the supermarket chain would continue to outperform its rivals long after he had gone, despite the group reporting a fall in like-for-like sales for a second consecutive quarter. King has overseen nine years of unbroken growth during his time at the company and has [...]
Justin King’s final curtain: Sainsbury’s CEO goes out on sliding sales June 11, 2014 It is chief executive Justin King’s last set of results, and Sainsbury's has reported a 1.1 per cent fall in like-for-like sales – in line with expectations. Including fuel, they dropped 2.4 per cent in the 12 weeks to 7 June. But shares have risen by as much as two per cent this morning. Darren [...]
Sainsbury’s to trial selling clothing online June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand TU online for the first time. People close to the company previously said that clothing margins were too low justify delivering clothes bought online to customers. However in a statement yesterday Sainsbury’s said it will pilot selling [...]
Justin King says Sainsbury’s will outsmart rivals May 7, 2014 JUSTIN King, the outgoing boss of Sainsbury’s, has played down his rivals’ price cutting tactics as a “skirmish” and insisted the supermarket will be as competitive as ever after posting forecast-beating profits. Britain’s third-largest grocer is the only one of the big four to not have formally committed to hundreds of millions of pounds of [...]
Sainsbury’s beats expectations as King prepares to hang up hat May 7, 2014 In what are Sainsbury’s last results under chief executive (CEO) Justin King, the supermarket’s reported improving profits, despite what it calls a tough background. Underlying profit before tax exceeded expectations, up 5.3 per cent to £798m last year. That's its slowest growth in almost 10 years, but analysts had been expecting a much smaller rise [...]
Sainsbury’s launches mobile scan and go trial April 30, 2014 Remember those hefty handheld “scan as you shop” machines in supermarkets that allow you to avoid queuing at the check-out? Sainsbury’s has rebooted this concept with an app that allows shoppers to scan, pack and pay for their shopping using their smartphone before collecting a receipt and exiting the store. With its “mobile [...]
Sainsbury headquarters go under hammer April 29, 2014 TISHMAN Speyer has snapped up Sainsbury’s headquarters at 33 Holborn, the property developer announced yesterday, in a deal thought to be worth £310m. The Foster & Partners-designed building, which was sold by Germany investment firm Union Investment, is let to the supermarket chain until 2026.