The bosses of Sainsbury’s and Asda have come under fire from MPs this morning at a select committee assessing the impact of the combined business on consumers and suppliers.
The conclusions of the committee will impact the number of stores the combined company will have to shed under competition regulations from its 2,800-store portfolio.
Roger Burnley, the chief executive of Asda, and Mike Coupe, the chief executive of Sainsbury’s, have been accused by Neil Parish, chair of the Environment Food and Rural Affairs committee, of “talking baloney” regarding the new entity’s combined market share.
Burnley was accused of misleading the committee by claiming it would have a combined 25%, while Parish said official figures show 31%.
Radius Data Exchange analysis shows that 142 of Asda’s 605 stores fall within a 1km radius of a Sainsbury’s store.
Read a full analysis of the supermarkets’ portfolios and what the deal may mean for landlords.
Neil Parish giving Asda boss Burnley a real roasting this morning.
So far called him misleading, a liar and spinning everyone a nursery rhyme. "There is no innovation in your deal. The suppliers will take the cost of the 10%"— James Child (@James_ChildCRE) June 20, 2018
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