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Coordinates 51°31'02?N 0°06'30?W? / ?51.51722, -0.10833 For much of the 20th century Sainsbury's was the market leader in the UK supermarket sector, but in 1995 it lost its place as the UK's largest grocer to Tesco and in 2003 was pushed into third by ASDA. The company's fortunes have improved since the launch of a recovery programme by CEO Justin King in 2004, with it reporting its 12th consecutive quarter of sales growth in January 2008.[2] Despite predictions that Sainsbury's would regain second position, Taylor Nelson Sofres data released in January 2008 shows Asda's share as 16.7% compared to Sainsbury's at 16.4%.[3] Sainsbury's was established as a partnership in 1869 when John James Sainsbury and his wife Mary Ann opened a store at 173 Drury Lane in Holborn, London. In 1922 J Sainsbury was incorporated as a private company. The first self-service branch opened in Croydon in 1950. In 1973 the company was floated as J Sainsbury plc in what was at the time the largest ever flotation on the London Stock Exchange; the company rewarded the smaller bids for shares in order to create as many shareholders as possible. Today the family retains at least 14% of the shares. In 1975, Sainsbury's launched the "Sainsbury's SavaCentre" hypermarket format as a joint venture with Bhs. This was the first attempt to launch supermarkets with a large non-food range in the UK. Savacentre became a wholly owned Sainsbury's subsidiary in 1989. As the hypermarket format became more mainstream, with rivals such as ASDA and Tesco launching ever-larger stores, it was decided that a separate brand was no longer needed and the stores were converted to the regular Sainsbury's superstore format in 1999. This is in direct contrast to rival firms Tesco and ASDA, which have been rapidly expanding their Tesco Extra and ASDA Wal-Mart Supercentre hypermarket formats in recent years.
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