Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Justin King has picked his moment to leave supermarkets stage

 

Jim Armitage
Thursday 08 May 2014 03:04 EDT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Outlook Timing is key for all the best showmen. And there are few better in front of a crowd than Sainsbury's Justin King. His exit in July could prove his canniest act yet.

Sainsbury's like-for-like sales have ground to a halt, Lidl and Aldi are pulling in the middle classes in ever bigger numbers, a supermarket price war is on its way and interest rates will rise within a year. Tesco, for all its troubles, is far ahead on convenience stores and online, where the growth is.

It's a long term, and risky, turnaround play, but surely Tesco is a better investment than Sainsbury. Perhaps that's why, for all the narrative that Tesco is in decline and Sainsbury's is on the up, Sainsbury's shares are still cheaper, relative to earnings.

Such weaknesses get overlooked in the sparkle of Mr King's presentational panache. His understudy Mike Coupe had better start pointing them out sharpish, or he'll end up copping the blame.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in