UK: Sainsbury’s CEO admits Asda threat
Sir Peter Davis, CEO of UK supermarket group J Sainsbury, admitted the chain may lose its position as second-largest grocer to Wal-Mart subsidiary Asda. Taylor Nelson Sofres data puts Asda's share of the UK grocery market in the three months to 15 September only marginally behind Sainsbury's 11.7% at 11%. Trading during the Christmas season tends to favour Asda, as it carries a higher proportion of non-food lines.
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