Sir Peter Davis cheerfully claimed this week that Sainsbury had turned the corner and was now catching up on its competitors. With group sales up 9.2% and like for like growth in supermarkets of 3.1%, it would seem his management is taking the group in the right direction. But has the past week again seen more presentation than hard factual substance about how Sir Peter intends to turn Sainsbury around? Analyst Kate Calvert of HSBC agreed the figures were better than expected but added: "One has to remember he's got very easy comparables because last year was so bad." It's good Sainsbury is rallying. "But it's still behind the industry, and frankly isn't good enough." Other analysts point out that Sir Peter is being a little optimistic about the figures. In reality, it is far behind the other top multiples and possibly even Morrisons. Take away petrol price inflation and the impact of Sainsbury's extension programme and the figures don't look good at all. Schroder Salomon Smith Barney analyst Dave McCarthy said: "They're still lagging behind, with declining profits and market share." Sir Peter has a tricky path to tread in raising the public's perception of Sainsbury, Calvert added. "The stores look better. They're much tidier, more like the Sainsbury of the past. But it's easy to improve quality and ranges. Changing people's perceptions is incredibly difficult." The Sainsbury share price rose 12.5% on the results announcement, having fallen 15% over the year. {{NEWS }}