Pound sterling
The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.
Aberdeen
Aberdeen is a city in northeast Scotland. It is Scotland's third most populous city, one of Scotland's 32 local government council areas and the United Kingdom's 37th most populous built-up area, with an official population estimate of 196,670 for the city of Aberdeen and 228,800 for the local council area. During the mid-18th to mid-20th centuries, Aberdeen's buildings incorporated locally quarried grey granite, which can sparkle like silver because of its high mica content. Since the discovery of North Sea oil in the 1970s, Aberdeen has been known as the off-shore oil capital of Europe; the area around Aberdeen has been settled since at least 8,000 years ago, when prehistoric villages lay around the mouths of the rivers Dee and Don. The city has a long, sandy coastline and a marine climate, the latter resulting in chilly summers and mild winters. Aberdeen received Royal burgh status from David I of Scotland; the city's two universities, the University of Aberdeen, founded in 1495, Robert Gordon University, awarded university status in 1992, make Aberdeen the educational centre of the north-east of Scotland.
The traditional industries of fishing, paper-making and textiles have been overtaken by the oil industry and Aberdeen's seaport. Aberdeen Heliport is one of the busiest commercial heliports in the world and the seaport is the largest in the north-east of Scotland. Aberdeen hosts the Aberdeen International Youth Festival, a major international event which attracts up to 1000 of the most talented young performing arts companies. In 2015, Mercer named Aberdeen the 57th most liveable city in the world, as well as the fourth most liveable city in Britain. In 2012, HSBC named Aberdeen as a leading business hub and one of eight'super cities' spearheading the UK's economy, marking it as the only city in Scotland to receive this accolade. In 2018, Aberdeen was found to be the best city in the UK to start a business in a study released by card payment firm Paymentsense; the Aberdeen area has seen human settlement for at least 8,000 years. The city began as two separate burghs: Old Aberdeen at the mouth of the river Don.
The earliest charter was granted by William the Lion in 1179 and confirmed the corporate rights granted by David I. In 1319, the Great Charter of Robert the Bruce transformed Aberdeen into a property-owning and financially independent community. Granted with it was the nearby Forest of Stocket, whose income formed the basis for the city's Common Good Fund which still benefits Aberdonians. During the Wars of Scottish Independence, Aberdeen was under English rule, so Robert the Bruce laid siege to Aberdeen Castle before destroying it in 1308, followed by the massacring of the English garrison; the city was rebuilt and extended. The city was fortified to prevent attacks by neighbouring lords, but the gates were removed by 1770. During the Wars of the Three Kingdoms of 1644 to 1647 the city was plundered by both sides. In 1644, it was taken and ransacked by Royalist troops after the Battle of Aberdeen and two years it was stormed by a Royalist force under the command of the Marquis of Huntly. In 1647 an outbreak of bubonic plague killed a quarter of the population.
In the 18th century, a new Town Hall was built and the first social services appeared with the Infirmary at Woolmanhill in 1742 and the Lunatic Asylum in 1779. The council began major road improvements at the end of the 18th century with the main thoroughfares of George Street, King Street and Union Street all completed at the beginning of the 19th century; the expensive infrastructure works led to the city becoming bankrupt in 1817 during the Post-Napoleonic depression, an economic downturn after the Napoleonic Wars. The increasing economic importance of Aberdeen and the development of the shipbuilding and fishing industries led to the construction of the present harbour including Victoria Dock and the South Breakwater, the extension of the North Pier. Gas street lighting arrived in 1824 and an enhanced water supply appeared in 1830 when water was pumped from the Dee to a reservoir in Union Place. An underground sewer system replaced open sewers in 1865; the city was incorporated in 1891. Although Old Aberdeen has a separate history and still holds its ancient charter, it is no longer independent.
It is an integral part of the city, as is Woodside and the Royal Burgh of Torry to the south of the River Dee. During the Second World War Aberdeen was bombed quite badly on the 21 April 1943 when around 20 Luftwaffe bombers circled around Aberdeen; because there were no planes at RAF leuchars they were all fighting in the Battle of Britain this meant that the bombers would fly back and forth around Aberdeen. 98 people died on that night and 20,000 homes were destroyed during the bombing which caused severe damage to many different homes around the city. Aberdeen became Gaelic-speaking at some time in the medieval period. Old Aberdeen is the approximate location of the first settlement of Aberdeen; the Celtic word aber means "river mouth", as in modern Welsh. The Scottish Gaelic name is Obar Dheathain, in Latin, the Romans referred to the river as Devana. Mediaeval Latin has it as Aberdonia. Aberdeen is locally governed by Aber
£sd
£sd is the popular name for the pre-decimal currencies once common throughout Europe in the British Isles and hence in several countries of the British Empire and subsequently the Commonwealth. The abbreviation originates from the Latin currency denominations librae and denarii. In the United Kingdom, one of the last to abandon the system, these were referred to as pounds and pence; this system originated in the classical Roman Empire. It was re-introduced into Western Europe by Charlemagne, was the standard for many centuries across the continent. In Britain, it was King Offa of Mercia who adopted the Frankish silver standard of librae and denarii in the late 8th century, the system was used in much of the British Commonwealth until the 1960s and 1970s, with Nigeria being the last to abandon it in the form of the Nigerian pound on 1 January 1973. Under this system, there were 20 shillings, or 240 pence, in a pound; the penny was subdivided into 4 farthings until 31 December 1960, when they ceased to be legal tender in the UK, until 31 July 1969 there were halfpennies in circulation.
The advantage of such a system was its use in mental arithmetic, as it afforded many factors and hence fractions of a pound such as tenths, eighths and sevenths and ninths if the guinea was used. When dealing with items in dozens and division are straightforward; as countries of the British Empire became independent, some abandoned the £sd system while others retained it as long as the UK itself. Australia, for example, only changed to using a decimal currency on 14 February 1966. Still others, notably Ireland, decimalised only; the UK abandoned the old penny on Decimal Day, 15 February 1971, when one pound sterling became divided into 100 new pence. This was a change from the system used in the earlier wave of decimalisations in Australia, New Zealand and South Africa, in which the pound was replaced with a new major currency called either the "dollar" or the "rand"; the British shilling was replaced by a 5 new pence coin worth one-twentieth of a pound. For much of the 20th century, £sd was the monetary system of most of the Commonwealth countries, the major exceptions being Canada and India.
Similar systems based on Roman coinage were used elsewhere. In the classical Roman Empire, standard coinage was established to facilitate business transactions. 12 denarii were rated equal to 1 gold solidus – a 4th-century Roman coin, rare but which still circulated. Following the collapse of the Western Roman Empire, new currencies were introduced in Western Europe though Roman currencies remained popular. In the Eastern Roman Empire, the currencies evolved away from the solidi and denarii. In the eighth century, Charlemagne re-introduced and refined the system by decreeing that the money of the Holy Roman Empire should be the silver denarius, containing 22.5 grains of silver. As in the old Roman Empire, this had the advantage that any quantity of money could be determined by counting coins rather than by weighing silver or gold. Different monetary systems based on units in ratio 20:1 & 12:1 were used in Europe in medieval times; the English name pound is a Germanic adaptation of the Latin phrase libra pondo'a pound weight'.
There were several ways to represent amounts of money in writing and speech, with no formal convention. Spoken, unless there was cause to be punctilious, "two pound and six". Whether "pound" or "pounds" was used depended upon the speaker, varying with class and context. 1/–, colloquially "a bob". 11d. 1 1⁄2d. As spoken, the lf in halfpenny and halfpence was always silent. 3d, with reference to the above, this became thruppence referred to as a "threepenny bit". 6d known as half a shilling. 2/– 2/6 4/3 5/– £1.10s.– £1/19/11 3⁄4d. £14.8s.2d Halfpennies and farthings were represented by the appropriate symbol after the whole p
Bookselling
Bookselling is the commercial trading of books, the retail and distribution end of the publishing process. People who engage in bookselling are called bookwomen, or bookmen; the founding of libraries in 300 BC stimulated the energies of the Athenian booksellers. In Rome, toward the end of the republic, it became the fashion to have a library, Roman booksellers carried on a flourishing trade; the spread of Christianity created a great demand for copies of the Gospels, other sacred books, on for missals and other devotional volumes for both church and private use. The modern system of bookselling dates from soon after the introduction of printing. In the course of the 16th and 17th centuries the Low Countries for a time became the chief centre of the bookselling world. Modern book selling has changed with the advent of the Internet. With major websites such as Amazon, eBay, other big book distributors offering affiliate programs, book sales have now, more than been put in the hands of the small business owner.
Bookstores may be either part of local independent bookstores. Stores can range in size offering from several hundred to several hundred thousand titles, they may be a combination of both. Sizes for the larger bookstores exceed half a million titles. Bookstores sell other printed matter besides books, such as newspapers and maps. Colleges and universities have their own student bookstore on campus that focuses on providing course textbooks and scholarly books, although some on-campus bookstores are owned by large chains such as WHSmith or Waterstone's in the United Kingdom, or Barnes & Noble College Booksellers in the United States, a private firm controlled by the chair of Barnes & Noble. Another common type of bookstore is the used bookstore or second-hand bookshop which buys and sells used and out-of-print books in a variety of conditions. A range of titles are available including in print and out of print books. Book collectors tend to frequent used book stores. Large online bookstores offer used books for sale, too.
Individuals wishing to sell their used books using online bookstores agree to terms outlined by the bookstore: for example, paying the online bookstore a predetermined commission once the books have sold. In Paris, the Bouquinistes are antiquarian and used booksellers who have had outdoor stalls and boxes along both sides of the Seine for hundreds of years, regulated by law since the 1850s and contributing to the scenic ambience of the city. In the book of Jeremiah the prophet is represented as dictating to Baruch the scribe, who described the mode in which his book was written; these scribes were the earliest booksellers, supplied copies as they were demanded. Aristotle possessed a somewhat extensive library, Plato is recorded to have paid the large sum of one hundred minae for three small treatises of Philolaus the Pythagorean; when the Alexandrian library was founded about 300 BC, various expedients were used for the purpose of procuring books, this appears to have stimulated the energies of the Athenian booksellers.
In Rome, toward the end of the republic, it became the fashion to have a library as part of the household furniture. Roman booksellers carried on a flourishing trade, their shops were chiefly in the Argiletum, in the Vicus Sandalarius. On the door, or on the side posts, was a list of the books on sale. In the time of Augustus the great booksellers were the Sosii. According to Justinian, a law was passed granting to the scribes the ownership of the material written. Abbasid Caliphate in the east and Caliphate of Córdoba in the west, encouraged the development of bookshops and book dealers across the entire Muslim world, in Islāmic cities such as Damascus, Córdoba. According to Encyclopædia Britannica: There is a popular turn of phrase from the 1960s, "Books are written in Cairo, published in Beirut, read in Baghdad". One of the most famous and prestigious Arab publishers is Dar al-Asab; the first wave of French booksellers came soon after Johannes Gutenberg introduced his new printing technologies in Europe.
The oldest known bookstore still opened. Its owner in 1545 was Étienne Rouzeau, it now belongs to publisher Albin Michel. In 1810 Napoleon created a system by which, a would-be bookseller had to apply for a license, supply four references testifying to his morality, four confirmations of his professional ability to perform the job. All references had to be certified by the local mayor. If the application was accepted, the bookseller would have to swear an oath of loyalty to the régime; the application process was conducted to ensure that the new bookstore was not a place that distributed rebellious publications. The brevet process continued until 1870; the spread of Christianity created a great demand for copies of the Gospels, other sacred books, on for missals and other devotional volumes for both church and private use. Before the Reformation and the introduction of printing and stationers who sold books formed guilds; some of these stationers had stations built against the walls of cathedrals.
Besides the sworn stationers there were many booksellers in Oxford.
Nook HD
The Nook HD and Nook HD+ are the third generation of Nook's line of color tablet e-reader/media players by Barnes & Noble for using their copy restricted proprietary files, or other files. They are the successors to the Nook Tablet and both were released on November 8, 2012; the 7-inch version, the Nook HD, is available in two internal memory sizes - 8 GB with 5 GB available for user content, 16 GB with about 13 GB available for user content. Memory is expandable via a microSD card; the Nook HD is available in two colors: Smoke. A 9-inch version, the Nook HD+, is available with 32 GB of internal memory, its memory is expandable via a microSD card. The Nook HD + is only available in Slate; when the devices were first introduced, purchasers of the Nook HD or Nook HD+ received an incentive of a $30 gift card to the Barnes & Noble shop. This expired in February 2013. In May 2013, B&N updated the Nook HD and HD+ to provide full access to the Google Play Store, which allowed users to install apps that were unavailable in the Nook Store.
In June 2013, B&N announced. B&N changed its mind and said a new Nook tablet would be released. In June 2014, Barnes & Noble announced it would be teaming up with Samsung to develop co-branded color tablet, the Samsung Galaxy Tab 4 Nook featuring Samsung's hardware with 7-inch and 10.1-inch displays and customized Nook software from Barnes & Noble. The Galaxy Tab 4 Nook began to be sold in the US in August 2014. On June 25, 2013, Barnes & Noble announced it: "is abandoning its Nook tablet hardware business and will instead rely on a'partnership model for manufacturing in the competitive color tablet market' that will seek third-party manufacturers to build eReaders that run Nook software." "The company plans to reduce losses in the NOOK segment by limiting risks associated with manufacturing,” Barnes & Noble said in a press release. “Going forward, the company intends to continue to design eReading devices and reading platforms, while creating a partnership model for manufacturing in the competitive color tablet market.
Thus, the popular lines of Simple Touch and Glowlight products will continue to be developed in house, the company’s tablet line will be co-branded with yet to be announced third party manufacturers of consumer electronics products. At the same time, the company intends to continue to build its digital catalog, adding thousands of eBooks every week, launching new NOOK Apps." On August 20, 2013 CNET reports B&N reversing the decision to eliminate the Color Nook devices: "The bookseller will continue to design and make Nook color devices, with at least one new Nook set for the holiday season, as its chairman shelves a bid to buy the retail side." In reporting on Barnes & Noble's June 5, 2014 announcement that the bookseller would be teaming up with Samsung to develop a co-branded tablet, Samsung Galaxy Tab 4 Nook, released in August 2014. Developers have found means to root the device, which "provides access to hidden files and settings, making it possible to run apps that require deep access to your file system or make dramatic changes to your device.
For instance you can use apps such as Titanium Backup to back up or restore all of the apps on your device." While Nook is a variant of Android with a different user interface and bundled software, a more standard variant of Android is available for the Nook and the smartphone/tablet version of Ubuntu operating system to run applications incompatible with Android. On February 1, 2014, official CyanogenMod 10.2.1 was released for the Nook HD and HD+. CyanogenMod versions for Nook HD and Nook HD+ are released for download under the hummingbird and ovation codenames respectively. CyanogenMod releases monthly M-builds and no versions marked "stable" are to be expected after version 11.0 M6 Release. The latest version is available for the Nook HD/Nook HD+ as a "SNAPSHOT" and "NIGHTLIES" versions. Since August 2013, a developer preview of Ubuntu Touch 13.10 is available based on the above ovation. Ubuntu Touch can be installed along with Android. Transferring a user's files to another computer is possible, provided that the files are not copy restricted by DRM, using the Media Transfer Protocol in supported operating systems.
Comparison of: E-book readers Tablet computers
Taylor & Francis
Taylor & Francis Group is an international company originating in England that publishes books and academic journals. It is a division of a United Kingdom-based publisher and conference company; the company was founded in 1852 when William Francis joined Richard Taylor in his publishing business. Taylor founded his company in 1798, their subjects covered agriculture, education, geography, mathematics and social sciences. From 1917 to 1930 Francis' son, Richard Taunton Francis was sole partner in the firm. In 1965 Taylor & Francis began book publishing. In 1988 it acquired Hemisphere Publishing and the company was renamed Taylor & Francis Group to reflect the growing number of imprints. In 1990 Taylor & Francis exited from the printing business to concentrate on publishing. In 1998 Taylor & Francis Group went public on the London Stock Exchange and in the same year the group purchased its academic publishing rival Routledge for £90 million. Acquisitions of other publishers has remained a core part of the group's business strategy.
Taylor & Francis merged with Informa in 2004 to create a new company called T&F Informa, since renamed back to Informa. Following the merger, T&F closed the historic Routledge books office in New Fetter Lane and relocated to its current headquarters in Milton Park, Oxfordshire. Taylor & Francis Group is now the academic publishing arm of Informa and accounted for 30.2% of Group Revenue and 38.1% of Adjusted Profit in 2017. Taylor & Francis publishes more than 2,700 journals, 7,000 new books each year, with a backlist of over 140,000 titles available in print and digital formats, it uses the Routledge imprint for its publishing in humanities, social sciences, behavioural sciences and education and the CRC Press imprint for its publishing in science, technology and mathematics. In 2017, T&F sold assets from its Garland Science imprint to W. W. Norton & Company and ceased to use that brand. Although considered the smallest of the'Big Four' STEM publishers, its Routledge imprint is claimed to be the largest global academic publisher within humanities and social sciences.
The company's journals have been delivered through the Taylor & Francis Online website since June 2011. Prior to that they were provided through the Informaworld website. Taylor & Francis ebooks are now available via the TaylorFrancis website. Taylor & Francis operates a number of Web services for its digital content including Routledge Handbooks Online, the Routledge Performance Archive, Secret Intelligence Files and Routledge Encyclopedia of Modernism. Taylor & Francis offers Open Access publishing options in both its books and journals divisions and through its Cogent Open Access journals imprint. Taylor & Francis is a member of several professional publishing bodies including the Open Access Scholarly Publishers Association, the International Association of Scientific and Medical Publishers, the Association of Learned & Professional Society Publishers and The Publishers Association. In 2017, after collaborating for several years, T&F purchased specialist digital resources company Colwiz.
The group has 1,800 employees located in at least 18 offices worldwide. Its head office is based in Milton Park, Abingdon in the United Kingdom, with other offices in Stockholm, New York, Boca Raton, Kentucky, Kuala Lumpur, Hong Kong, Shanghai, Melbourne, Cape Town and New Delhi; the old Taylor and Francis logo depicts a hand pouring oil into a lit lamp, along with the Latin phrase "alere flammam" - to feed the flame. The modern logo is a stylised oil lamp in a circle. In 2013, the entire board of the Journal of Library Administration resigned in a dispute over author licensing agreements. In 2016 Critical Reviews in Toxicology was accused of being a "broker of junk science" by the Center for Public Integrity. Monsanto was found to have worked with an outside consulting firm to induce the journal to publish a biased review of the health effects of its product "Roundup". In 2017, Taylor & Francis was criticized for getting rid of the editor-in-chief of International Journal of Occupational and Environmental Health, who accepted articles critical of corporate interests.
The company replaced the editor with a corporate consultant without consulting the editorial board. The journal Cogent Social Sciences accepted a hoax article, "The conceptual penis as a social construct", rejected by another Taylor & Francis journal, NORMA: International Journal for Masculinity Studies; when the authors announced the hoax, the article was retracted. In December 2018, the journal Dynamical Systems accepted the paper Saturation of Generalized Partially Hyperbolic Attractors only to have it retracted after publication due to the Iranian nationality of the authors; the European Mathematical Society condemned the retraction and announced that Taylor & Francis had agreed to reverse the decision. Previous instances of Taylor & Francis journals discriminating against Iranian authors were reported in 2013. Taylor & Francis academic journals Munroe, Mary H.. "Taylor & Francis". The Academic Publishing Industry: A Story of Merger and Acquisition. Northern Illinois University Libraries. Archived from the original on 2012-05-04.
Retrieved 2008-06-20. Brock, W. H. & Meadows, A. J.. The Lamp Of Learning: Taylor & Francis And Two Centuries Of Publishing. Taylor & Francis. Official website Taylor & Francis online journals and reference works Taylor & Francis eBooks Informa Divisions - Academic Publishing
Sainsbury's
Sainsbury's is the third largest chain of supermarkets in the United Kingdom, with a 16.9% share of the supermarket sector. Founded in 1869, by John James Sainsbury with a shop in Drury Lane, the company became the largest retailer of groceries in 1922, was an early adopter of self-service retailing in the United Kingdom, had its heyday during the 1980s. In 1995, Tesco overtook Sainsbury's to become the market leader, Asda became the second largest in 2003, demoting Sainsbury's to third place for most of the subsequent period until January 2014, when Sainsbury's regained second place. In April 2019, whilst awaiting to merge with rival Asda, Sainsbury's were again demoted into third place as their rival placed second; the holding company, J Sainsbury plc, is split into three divisions: Sainsbury's Supermarkets Ltd, Sainsbury's Bank and Sainsbury's Argos. The group's head office is in Sainsbury's Support Centre in City of London; as of February 2018, the largest overall shareholder is the sovereign wealth fund of Qatar, the Qatar Investment Authority, which holds 21.99% of the company.
It is a constituent of the FTSE 100 Index. Sainsbury's was established as a partnership in 1869, when John James Sainsbury and his wife Mary Ann opened a shop at 173 Drury Lane in Holborn, London. Sainsbury started as a retailer of fresh foods and expanded into packaged groceries such as tea and sugar, his trading philosophy, as stated on a sign outside his first shop in Islington, was: "Quality perfect, prices lower". Shops started to look similar, so in order that people could recognise them throughout London, a high cast-iron'J. SAINSBURY' sign featured on every shop so their shops could be seen from a distance, round-the-back deliveries started to add extra convenience and not upset rivals due to Sainsbury's popularity. In 1922, J Sainsbury was incorporated as a private company, as'J. Sainsbury Limited', when it became the United Kingdom's largest retailer of groceries. By this time each shop had the following departments: dairy and hams, poultry and game, cooked meats, fresh meats. Groceries were introduced in 1903, when John James purchased a grocer's branch at 12 Kingsland High Street, Dalston.
Home delivery featured in every shop. Sites were chosen, with a central position in a parade selected in preference to a corner shop; this allowed a larger display of products, which could be kept cooler in summer, important as there was no refrigeration. By the time John James Sainsbury died in 1928, there were over 128 shops, his last words were said to be:'Keep the shops well lit'. He was replaced by his eldest son, John Benjamin Sainsbury, who had gone into partnership with his father in 1915. During the 1930s and 1940s, with the company now run by John Benjamin Sainsbury, the company continued to refine its product offerings and maintain its leadership in terms of shop design and cleanliness; the company acquired the Midlands-based Thoroughgood chain in 1936. The founder's grandsons Alan Sainsbury and Sir Robert Sainsbury became joint managing directors in 1938, after their father, John Benjamin Sainsbury, had a minor heart attack. Following the outbreak of World War II, many of the men who worked for Sainsbury's were called to perform National Service and were replaced by women.
The Second World War was a difficult time for Sainsbury's, as most of its shops were trading in the London area and were bombed or damaged. Turnover fell to half the prewar level. Food was rationed, one particular shop in East Grinstead was so badly damaged on Friday 9 July 1943 that it had to move to the local church, while a new one was built; this shop was not completed until 1951. In 1956, Alan Sainsbury became chairman after the death of John Benjamin Sainsbury. During the 1950s and 1960s, Sainsbury's was a keen early adopter of self-service supermarkets in the United Kingdom. On a trip to the United States of America, Alan Sainsbury realised the benefits of self-service shops and believed the future of Sainsbury's was self-service supermarkets of 10,000 sq ft, with the added bonus of a car park for extra convenience; the first self-service branch opened in Croydon in 1950. Sainsbury's was a pioneer in the development of own-brand goods, it expanded more cautiously than did Tesco, shunning acquisitions, it never offered trading stamps.
Until the company went public on 12 July 1973, as J Sainsbury plc, the company was wholly owned by the Sainsbury family. It was at the time the largest flotation on the London Stock Exchange. A million shares were set aside for staff, which led to many staff members buying shares that shot up in value. Within one minute the list of applications was closed: £495 million had been offered for £14.5 million available shares. The Sainsbury family at the time retained 85% of the firm's shares. Most of the senior positions were held by family members. John Davan Sainsbury, a member of the fourth generation of the founding family, took over the chairmanship from his uncle Sir Robert Sainsbury in 1969, chairman for two years from 1967 following Alan Sainsbury's retirement. Sainsbury's started to replace its 10,000 sq ft High Street shops with self-service supermarkets above 20,000 sq ft, which were either in out of town locations or in regenerated town centres
£54.2 million (2014)[1]
£600,000 (2014)[1]
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