Store wars: will we all be losers?
Article Abstract:
UK superstores make much more profit than those on the continent or in the US, but, for return on capital they are about average. The big three, namely Sainsbury, Tesco and Argyll which owns Safeway, open 70 new superstores a year, these being stores with sales areas of over 25,000 square feet. They also provide a variety of trolleys, creche facilities and sophisticated pack and checkout areas. The total in the UK is 800 and by 1996 there will be more than 1,000. Demand for food in these stores is more or less static. In contrast, discounters like Kwik Save, where prices are cheaper than the superstores because capital expenditure is low, have seen volumes increase by 10 to 15%.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
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The posh person's provision merchant
Article Abstract:
The Sainsbury grocery empire was founded in 1869 by John James Sainsbury and his wife Mary Ann when they bought a small shop in Drury Lane, London to sell butter, eggs and milk. The emphasis has always been quality and value and they now have 17% of the UK market for grocery. Lord Sainsbury who became chairman in 1969 has seen the greatest changes, the company becoming public in 1973. The family holding is now 43%. David Sainsbury is expected to take over as chairman in 1992 and he will probably be the last family member in this post.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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The long road from buyout to float
Article Abstract:
MFI, the cash-and-carry furniture chain, plans flotation in Jul 1992 after the 715 million pounds sterling leveraged buyout of 1987, one of only four buyouts over half a billion pounds sterling. A float price of 135p-145p is likely, making the estimated value of the business about 800 million pounds sterling. MFI bought Hygena and Schreiber, two of its suppliers. 1991/2 profits on sales of 644 million pounds sterling were 73.7 pounds sterling. Good management saved the company from folding like many of its competitors.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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