Industry data last week showed the group’s sales had slipped 1.3 per cent in the 12 weeks to 21 June compared with a year earlier. The Kantar figures also suggested that its market share had dipped to 16.5 per cent.
On top of this, Sainsbury’s, which holds its AGM on Wednesday, posted its sixth straight quarter of sliding sales last month as it suffers amid the price battle, and said it expects prices to continue falling into next year.
The “big four” grocers are under pressure from falling food prices and a highly competitive sector as the main players scramble for market share, which is being eaten away by discounters Aldi and Lidl. Coupe has promised to “match whatever our competitors throw at us”.