Shares in supermarket chain J Sainsbury soared as the group hinted it could agree the sale of its Homebase DIY division within weeks and unveiled a progress report ahead of half-year results on November 22, writes David Duffy.
Group chief executive Sir Peter Davis said he was pleased with the progress Sainsbury's had been making on his three-year plan to turn its supermarkets around to update the group's IT infrastructure, improve the depot network and upgrade the store portfolio.
And while the group had no further news on the possible sale of its Homebase DIY division it said the strategic review of the Homebase business, which could include its disposal, would take a few more weeks to complete.
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