UK retailer Sainsbury's said in an interim statement on Thursday that it has sold the freehold of two stores in the UK for a total of £86 mln (EUR 95 mln). The transactions reflect a yield of 5.5%. The retail giant said that the sales are in line with its programme of disposing of fully developed trading stores. The buyer was not disclosed.
UK retailer Sainsbury's said in an interim statement on Thursday that it has sold the freehold of two stores in the UK for a total of £86 mln (EUR 95 mln). The transactions reflect a yield of 5.5%. The retail giant said that the sales are in line with its programme of disposing of fully developed trading stores. The buyer was not disclosed.
During the third quarter to January 3, 2009, the company also opened six new stores, and extended six existing stores. It reported a record performance during the same period with 22.6 million customers at Christmas and total sales up by 4.8%.
Justin King, chief executive, said: 'Sainsbury's good trading performance has continued over the past 13 weeks, with our best ever Christmas performance completing a good overall third quarter.'
