Newspaper article The Journal (Newcastle, England)

Companies Today

Newspaper article The Journal (Newcastle, England)

Companies Today

Article excerpt

SAINSBURY'S CUTS Sainsbury's is set to axe 500 jobs as part of the latest round of costcutting in the supermarket industry. The chain said its proposals for the streamlining of its central operations will require around 500 fewer roles, spread across all divisions and grades in its store support centres.

The steps form part of the PS500m in cost savings outlined by the retailer in a strategic review published in November.

It has already announced plans to mothball a number of schemes in its property pipeline.

FESTIVE SALES UP A curb on promotions boosted Christmas sales figures from Debenhams but failed to prevent fresh questions over its turnaround plans.

The group, which has 248 stores in 28 countries, lifted like-for-like sales by 4.9% in the four weeks to January 10 after it boosted online trading by almost a third and held 10 fewer days of sales.

The performance was in contrast to the previous year's Christmas, when it was forced to issue a profits warning due to poor sales and a botched promotional strategy. …

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