Sainsbury’s boss denies focus on price cuts is denting quality perception

For the year to 12 March, Sainsbury’s saw its sales fall 1.1% to £25.8bn as underlying profits slid 14% to £587m, slightly better than analysts predicted. Although admitting that consumers now have more money in their pocket, Sainsbury’s chief executive Mike Coupe said it was being spent primarily in sectors such as leisure and on cars, rather than in supermarkets.
He claimed Sainsbury’s prices are now 4% lower than two years ago, adding that is a &ld