Profits rise for Sainsbury's, which sets targets for 2020

Sainsbury's, third UK retailer,  has recorded profits up of 9% and unveiled its objectives for 2020.

Sainsbury's has increased its profits by 9% to £ 665 million (763 million), total sales increased 7.1%. The non-food sales have increased 3 times more than food sales.

Currently, these products represent only 25% of total sales but Sainsbury's expects to raise of 45% the total sales by 2020.

For this, Sainsbury's will extend offerings and services: currency exchange and travel agency are cited as the foreign operations, including the launch of stores in China. The British retailer also wants to devote more areas to non-food products. This year, the launch of new stores and renovations will continue, and Sainsbury's expects to open 1 to 2 stores each week.

source : telegraph,  herald scotland