Sainsbury has been slammed by the national papers today after yesterday’s announcement that it would remove one-off charges of £550m this year due to past mistakes.

The Financial Times said that Justin King’s claim that “this time it will be different,” would be greeted with a lot of cynicism, given “the promises made and broken by a succession of past arrogant incompetent management at what was once Britain’s biggest grocer.”

The Guardian criticised the company’s investment in technology, a cost that the supermarket is now cutting due to lack of success.

“The state of the art systems have turned out to be white elephants, leaving shelves empty and pushing customers to other stores.” The newspaper noted that in-store availability is now worse than before Sir Peter Davis spent £3bn on automated depots to improve it.

In addition to cost cutting, the new strategy for the company, as announced by the new chief executive Justin King yesterday , affects every area of the business.

King announced the company’s plan to increase sales by £2.5bn in the next three years, saying he expected £400m of that to come from convenience stores, £700m from better homewares and the rest from groceries.

But the key focus was on availability, which has been Sainsbury’s downfall for the past few years. King stated the company would be cutting 750 middle management positions to make way for 3,000 front-line staff, with the key aim of improving availability.

Shares in the company closed up by 7p to 249p.