Sainsburys heading for profit – Davis
31 May 2001
Sainsbury’s heading for profit – Davis
By FWi staff
SAINSBURYS is set for a turnaround despite a second year of annual profit decline, insists the chief executive of the supermarket group.
Sir Peter Davis said the group had stabilised with customer numbers improving and cost savings on target, reports the Financial Times.
The supermarket chain announced a 14.7% fall in pre-tax profit to 434 million with underlying profit, before exceptional items, of 549m, down 5.3%.
- Sainsburys pins hope on e-commerce, FWi, 31 May, 2000
- Safeway aims for Tesco top spot, FWi, 24 November, 2000
- Financial Times, 31 May, 2001, page 24
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