16th Apr 2015 05:43
LONDON (Alliance News) - J Sainsbury PLC is planning to convert the equivalent of around 40 supermarkets of shop space into non-food, The Daily Telegraph reported on Wednesday.
Chief Financial Officer John Rogers said at an event at a south London store on Wednesday that the company has identified 1.5 million square feet of space across the UK, representing around 6% of its portfolio, that it no longer needs for food.
It intends to use the space to sell its collection of own-brand non-food products, including kitchenware and homeware.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11539976/Sainsburys-to-convert-supermarkets-into-non-food-space.html
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Sainsbury's