Asda's chairman has said supermarkets are owed a 'debt of gratitude' as he dismissed talk of capping prices as 'rather backward looking'.
Asda is not a publicly-listed company, so its profits are not reported, but Lord Rose grouped it with its competitors' profits and said:"They've all gone backwards".
Similar sentiments were expressed by Andrew Opie, the director of food and sustainability at the British Retail Consortium.
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