King hails Basics expansion after sales boost

Wednesday, 12 November 2008
 
Sainsbury's chief executive Justin King has said the firm has moved its Basics range further down the supply chain to target more people.

After the company revealed a 3.9% jump in like-for-like sales in the 28 weeks until 4 October 2008, King said "smaller [convenience] stores have a bigger range".

And the supermarket chain has been successful in responding to change during a difficult economic period, he added.

King said: "Customers are telling us they don't want to compromise on quality, but they do want to save money."

People are also cooking more and "dialling inflation out", King commented, buying more own label products and cheaper cuts of meat.

But the Sainsbury's boss said the company has no plans to move into the discounter arena, as Tesco has done in the last few months.

Last week, King said he thinks concerns over food miles are "flawed" and miss the point.
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