19 November 2001
Supermarkets still thriving
By FWi staff
SUPERMARKET giants Sainsbury and Safeway are expected to reveal healthy first-half figures, continuing the strong growth in the sector.
Safeway, Britains fourth biggest chain, said same store sales rose 5.4% in the 16 weeks to mid-October, reports The Daily Telegraph.
Sainsbury, the second largest supermarket in the country, is expected to unveil profits of 310-322 million before tax and exceptionals, compared to 300m last year.
The Independent reports that the sector has seen sales growth running at 5% due to food price inflation and a break in big price wars.
However, the Financial Times reports that Sainsbury is facing problems with its online grocery service, despite a recent revamp of the service.
The newspaper says customers have complained about the stability of the system and the time required to carry out a transaction.
- Sainsbury results send shares soaring, FWi, 27 July, 2000
- Sainsbury directors axed in shake-up, FWi, 10 March, 2000
- Wal-Mart man replaces Safeway chief, FWi, 03 November, 1999
- The Independent, 19 November, 2001, page 17
- The Daily Telegraph, 19 November, 2001, page 33
- Financial Times, 19 November, 2001, page 27