SAINSBURY MAPS COST-SAVINGS STRATEGY

LONDON (FNS) -- J. Sainsbury plc here last week outlined further restructuring moves aimed at delivering cost-savings of $870 million a year by 2004.The moves are part of the program being implemented by Sainsbury's group chief executive Sir Peter Davis aimed at revitalizing the U.K.'s second-largest food retailer. Sainsbury's growth has lagged that of its rivals Tesco plc, Cheshunt, England, and

LONDON (FNS) -- J. Sainsbury plc here last week outlined further restructuring moves aimed at delivering cost-savings of $870 million a year by 2004.

The moves are part of the program being implemented by Sainsbury's group chief executive Sir Peter Davis aimed at revitalizing the U.K.'s second-largest food retailer. Sainsbury's growth has lagged that of its rivals Tesco plc, Cheshunt, England, and Asda, the Leeds-based subsidiary of Wal-Mart.

Davis, who joined Sainsbury's in M

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