Sainsbury’s and Asda hit back at claims merger would harm customers

Following criticism last month from the Competition and Markets Authority about the impact on customer choice and prices of Sainsbury’s and Asda merging, Mike Coupe, chief executive of Sainsbury’s, and Asda’s chief executive, Roger Burnley have issued a joint statement contesting the authority’s findings and stressing the benefits for customers regarding savings :

“We are trying to bring our businesses together so that we can help millions of customers make significant savings on their shopping and their fuel costs, two of their biggest regular outgoings. We are committing to reducing prices by £1bn per year by the third year which would reduce prices by around 10% on everyday items. We are happy to be held to account for delivering on this commitment and to have our performance independently reviewed and to publish this annually”.