J Sainsbury is to double the space it opens every year as it looks to close the gap on the UK’s leading supermarket group Tesco.
The target would see Sainsbury open floor space equivalent to 5% of the company’s total floor space every year. This would be the size of about 25 medium stores a year.
According to a report in the Sunday Telegraph, the move is part of a plan by Sainsbury’s CEO Justin King to increase sales by £2.5bn by 2008.
There were also reports in the UK press over the weekend that Sainsbury would be joining the price war between Asda and Tesco early next year.
The Independent on Sunday said Sainsbury’s would launch a January sale, different from events it has held in the past that had only been used to shift leftover stock.
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