Sainsbury’s boss Mike Coupe says the “death of the superstore is grossly exaggerated” despite stating a quarter of its stores have too much space.
During an interview about the company’s falling profits and sales and strategic review, Coupe says the grocer is facing a “perfect storm” and believes the market will remain “very challenging” over the next 18 months to two years.
Sainsbury’s is seeking build a “brighter, sharper” business after feedback from employees and customers and as a result will overhaul 3,000 own-brand products and invest £150m in price cuts.
Sainsbury's reports interim profits down 6% as it unveils fightback plan
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Video: Sainsbury’s boss Mike Coupe says death of superstore ‘grossly exaggerated’