SAINSBURY REPORTS DROP IN PROFIT AT SHAW'S

LONDON (FNS) -- J. Sainsbury plc said last week it has no plans for the time being to increase its 20% holding in Giant Food, Landover, Md., because of the chain's recent poor performance and Sainsbury's need to improve the profitability of its wholly owned subsidiary, Shaw's Supermarkets, East Bridgewater, Mass.Sainsbury revealed the policy in reporting a 16.6% drop in operating profits at Shaw's

LONDON (FNS) -- J. Sainsbury plc said last week it has no plans for the time being to increase its 20% holding in Giant Food, Landover, Md., because of the chain's recent poor performance and Sainsbury's need to improve the profitability of its wholly owned subsidiary, Shaw's Supermarkets, East Bridgewater, Mass.

Sainsbury revealed the policy in reporting a 16.6% drop in operating profits at Shaw's to $36.2 million on a 16.4% rise in sales to $1.49 billion for the 28 weeks ended Sept.

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