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Additional Information
Market: LSE
Sector: General Retailers
EPIC: SBRY
Latest Price: 295.80p  (0.24% Ascending)
52-week High: 395.10p
52-week Low: 258.00p
Market Cap: 5,554.49M
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Sainsbury
www.sainsburys.co.uk
J Sainsbury plc is a United Kingdom-based company principally engaged in grocery and related retailing, and financial services.
Full Sainsbury profile here
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Sainsbury plans to raise 445 million for growth, made strong start to current year

17th Jun 2009, 8:32 am Sainsbury plans to raise 445 million for growth, made strong start to current year

J Sainsbury PLC (LSE: SBRY) announced plans to raise £445 million via a placing and a convertible bond offer and reported on trading for the first quarter, saying it has had a strong start to the new financial year.

The new funds will provide the group the financial flexibility to significantly grow its business further and faster, as it is now planning to grow space by 15 percent, equivalent to circa 2.5 million square feet, by March 2011.

Total sales for the 12 weeks to June 13 2009 were up 3.2 percent from the same period a year earlier, a 2.5 percent rise on a like-for-like basis.

Chief executve Justin King said: “While we expect the economic environment to remain challenging during 2009, our wide customer base and focus on great products at fair prices means we are well positioned to continue our progress.”

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