date:May 08, 2014
British grocer J Sainsbury (SBRY.L) said it was well-equipped to cope with the rise of discounters and price cuts by major rivals, even though a 5.3 percent increase in annual profit represented its weakest growth in nearly a decade.
Britain's grocery market is growing at its lowest rate for 11 years as price inflation slows and stagnant wages keep consumer spending in check.
The big four grocers - market leader Tesco (TSCO.L), Wal-Mart's (WMT.N) Asda, Sainsbury's and Morrisons (MRW.L) - are a