Sainsbury looks for 600m savings

19 October 2000



Sainsbury looks for 600m savings

SAINSBURYS hopes to make savings of 600 million by 2004, chief executive Sir Peter Davis told investors on Wednesday (18 October).

Sir Peter wants to generate operating margins “comparable with industry leaders”, reports the Financial Times.

Sainsbury currently claims operating margins of 4.1% against Tescos 5.9%.

He said 300m would be achieved through better purchasing and a further 300m through more efficient operations.

• Sainsburys pins hope on e-commerce, FWi, 31 May, 2000
• Sainsbury directors axed in shake-up, FWi, 10 March, 2000
  
• Financial Times 19/10/2000 pages 28 and 30
  
• The Times 19/10/2000 pages 29 and 30
  
• The Daily Telegraph 19/10/2000 page 35
  
• The Independent 19/10/2000 page 22
  
• The Guardian 19/10/2000 page 27
  
• Daily Express 19/10/2000 page 63