Apr 30, 2018

Sainsbury's vows to cut prices in Asda deal

Sainsbury's chief executive Mike Coupe said the deal would lead to no store closures and no job losses in stores. "There will be be no store closures," Mr Coupe told the BBC's Today programme. Savings would come through "Buying benefits", "Operational efficiencies" and opening Argos shops in Asda stores, the firms said. Mike Coupe has promised there will be no store closures and no job losses IN STORES. Both comments need unpacking. Latest figures from Kantar Worldpanel show Tesco has a 27.6% grocery market share, while Sainsbury's has 15.8% and Asda has 15.6%. Mr Coupe told the BBC he expected the deal to be completed by the autumn of 2019.

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