success over a decade

Sainsbury's CEO Justin King
Sainsbury's CEO Justin King
0
Have your say

justin King has almost trebled underlying profit during his ten-year tenure.

His departure will raise the question of how his successor will defend profits in the face of stagnating household incomes and a two-pronged challenge from discount supermarkets and luxury food retailers.

The big four supermarkets, which include Tesco, Asda and Morrisons as well as Sainsbury’s, are being squeezed between hard discounters Aldi and Lidl and upmarket players Waitrose and Marks & Spencer. Analysts said all four lost market share in the run-up to Christmas.