Sainsbury's plans news stores push - graduate jobs

Graduates seeking retail jobs will be encouraged to hear Sainsbury's plans to open up to 100 new convenience stores as part of its growth strategy.

The supermarket has identified convenience stores as a key area and hopes to add to the 38 it opened in the year to March 20, after posting better than expected annual profits.

Sainsbury's 127,000 staff shared a record bonus purse of more than £80 million from the annual profits, which showed a 17% increase. The grocer registered pre-tax profits of £610 million for the year, more than the £600 million anticipated by the City.

Staff had been rewarded for a "good performance in difficult trading times", said chief executive Justin King, but he sounded a note of caution, admitting further challenges may lie ahead with consumers "under pressure".

Mr King said Sainsbury's is now serving 19 million customers a week - one million more than a year earlier and nearly five million more than five years ago. Total revenues across the group were up 5% to £21.4 billion.

Sainsbury's is pushing for growth after spending £900 million over the year to add 1.1 million sq ft of selling space, as well as opening or extending more than 100 stores.