Supermarket giant ready to reclaim number two slot
Sainsbury's has drawn level on sales with rival Asda and is poised to reclaim its position as the second biggest retailer in the UK.

Its market share matched Asda's at 16.1 per cent for the four weeks to February 26, according to industry research house TNS. Number one grocer Tesco recorded a 30.4 per cent market share for the 12 weeks to February 26.

The trend makes it likely that Sainsbury's will soon overtake Asda for second position. Asda leapfrogged Sainsbury's in 2003, but is currently repositioning the business and announced at the weekend that it is to change its slogan to 'more for you for less'.

Sainsbury's chief executive Justin King is targeting a£2.5 billion increase in sales in the three years to March 2008.

Sainsbury's posted sales of£16.4 billion last year, but not all of its growth is organic - in the past two years, Sainsbury's has acquired 23 stores from Morrison's and bought the 114-store Jackson's convenience chain.