When Sainsbury's chief executive Justin King unveils full-year results today, he is expected to announce a shift in the retailer's focus to growing non-food sales. Daily Telegraph. BBC
As he enters the final year of his recovery plan, King will set out how he plans to deliver the additional £700m of non-food sales he promised in October 2004 with the extension and refurbishment of UK stores.
The new 54,000 sq ft Sainsbury’s store in Maidenhead which opened in March has given a sneak preview his plans: the mannequins near the entrance of the store are dressed in matching bikinis and sarongs, and are surrounded by a display that would not look out of place in Marks & Spencer or Next.
In addition to its Tu clothing range, Sainsbury’s is also selling a range of non-food items from jewellery to digital cameras, flat-screen televisions to toys.
Sainsbury's ia also expected announce a partial sale and leaseback of its store portfolio, following a revaluation. The retailer owns 50%-55% of its portfolio and much of that is leveraged.