Asda chief Bond defends value retail |
| Monday, 25 June 2007 | |
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Asda boss Andy Bond has dismissed as "baloney" reports of the death of value retailing. In an interview in yesterday's Sunday Times, the Asda chief executive said: “Value retailing is as relevant today as it's ever been.
“Everyone talks about 'premium-isation', and that the days of value are over: well, baloney. "Some people are much richer but a lot aren't. We are a value retailer born and bred and always will be.” Andy Bond also admitted to past mistakes. “We know our growth rate slowed before 2004, but in the past couple of years we have turned a corner," he said. "We weren't listening to our customers as much as we should have. People expected more organic and premium ranges, and we were slow to get into dotcom. But we have identified that, and by improving some of these things, the business has improved.” Click on the link to read the full Sunday Times interview.
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