And King has something to be happy about. Sainsbury’s, the UK’s third biggest supermarket, revealed that like-for-like sales in Q2, were up 1.9%. At the same time, its rival Tesco reported a profit fall for the first time in nearly 20 years.
Speaking at sustainability event 'Green Mondays' earlier this week, King said Sainsbury’s recent success lies in its ‘brand match’ guarantee, which promises customers will not pay more for brands than at Asda or Tesco.
He also said competition was good in the retail sector, and dismissed claims that Sainsbury’s is treading on the toes of smaller shopkeepers: ‘Customers vote with their wallets and we have nothing to apologise for.'