J Sainsbury plc (GB:SBRY) has released an update.
J Sainsbury plc has announced the acquisition of 10 Homebase stores, which will be converted into Sainsbury’s supermarkets, expanding their reach across England, Northern Ireland, and Scotland. This strategic move is expected to add approximately 235,000 square feet of supermarket trading space, creating about 1,000 new jobs, and is part of their Next Level Sainsbury’s plan to offer more food choices. The company anticipates strong returns from the new stores, with the total investment valued at around £130 million, while maintaining their retail free cash flow targets for the coming financial years.
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