Full Description

J Sainsbury plc is engaged in grocery and related retailing. The businesses are organized into three divisions: Retailing (supermarkets, convenience and online); Financial services (Sainsbury’s Bank joint venture), and Property investments (British Land joint venture and Land Securities joint venture). As of March 31, 2009, the Company comprised 502 supermarkets and 290 convenience stores. It jointly owns Sainsbury’s Bank with Lloyds Banking Group and has two property joint ventures with Land Securities Group PLC and The British Land Company PLC. Sainsbury’s opened 13 new supermarkets during the fiscal year ended March 31, 2009 (fiscal 2009), including two replacement stores, and completed 21 supermarket extensions and 13 refurbishments. On March 4, 2009, it announced the acquisition of 24 stores from the Co-operative Group comprising 22 Somerfield branded stores and two Co-operative branded stores. On 18 February 2009, the Company acquired Town Centre Retail (Bicester) Limited.