Sainsbury's finally on the up again
Sainsbury's 1.7% rise comes as competitor Wm Morrison loses ground.
Sainsbury’s is recovering from years of underperformance, when it has lost ground on lower price rivals Tesco and Asda. The news came as Sainsbury’s direct competitor Wm Morrison reported a 1.2 per cent drop in sales during the six weeks to March 13. According to Chief Executive Justin King, Sainsbury has gained customers from the former Safeway stores following their takeover from Wm Morrison Supermarkets last year.