British supermarket chain Sainsbury's today unveiled plans to invest £500m sterling on new shops and store refurbishments in London over the next three years.
It plans to open at least 27 stores in London by 2004, creating over 3,000 jobs in the process. It is also ploughing millions into its older stores, extending some and refitting others.
Sainsbury's has 104 supermarkets in Greater London, representing over a quarter of its national portfolio.
Despite lagging behind Tesco in Britain as a whole, Sainsbury's still holds the title of market-leading supermarket in the capital. The investment programme means it will have spent a total of £1bn in London between 1999 and 2004, creating 6,000 jobs.
