Sainsbury's boss pockets 23% pay rise after helping the grocer hit targets

The retail boss almost doubled his annual bonus to £996,000 which on top of a £940,000 salary and other benefits lifted his pay package to £3.2m, the Daily Mail reports. This was an increase from £2.6m the previous year. Sainsbury's (down 6.8p to 365.1p) has been the star performer of the grocery sector this past year, managing to dodge the downturn with its ‘Live Well for Less' advertising campaign and discount vouchers. While pre-tax profit fell 1.4% to £788m for the year to 16 March, this was largely due Sainsbury's property estate being written down in value. On an underlying ...