When Justin King became the new chief executive at Sainsbury’s it seemed as if he had about as much chance of stemming the tide against the retailer as that other king, Canute did of stemming the actual tide.
But cost cutting, the initiation of the “Making Sainsbury’s Great Again” programme, and an effort to improve stock control - and the store is seeing some real improvement.
Sainsbury’s has been blighted with poor product availability, with stores often seeing empty shelves. King has tried to change that.
And the result;: the store has now enjoyed five quarters of successive like for like sales growth and in the period just gone, like for like sales were up 5.3%. Mr King said: “We had 15 million customers six months ago, now we have 16m”. He added: “Customers are noticing the many improvements we have been making to our business”
According to TNS, there are now just 0.4 percentage points between the Sainsbury’s and Asda market share. Asda has 16.6% market share, Sainsbury’s 16.2%. Last summer Sainsbury’s had just 15.7% of the market.
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