UK's Sainsbury's targets 10% profit growth as it wins more s

UK's Sainsbury's targets 10% profit growth as it wins more shoppers, ET Retail

Sainsbury's and Tesco, which this month also forecast a rise in profit this year, are pulling away from traditional rivals Asda and Morrisons, which are hamstrung by high debt. Under CEO Simon Roberts, Sainsbury's has matched discounter Aldi's prices on essential items and provided better offers for members of its Nectar loyalty scheme, financed by cutting 1.3 billion pounds ($1.6 billion) of costs over the last three years.

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