Tesco.com - Competition Commission

TESCO RESPONSE TO COMPETITION COMMISSION PROVISIONAL FINDINGS

Responding to the publication of the Competition Commission's provisional findings on the groceries market, Tesco Executive Director for Corporate and Legal Affairs, Lucy Neville-Rolfe said:

“There can be no doubt that shopping for groceries is better for consumers than it has ever been. Prices are lower, quality is better, there is greater choice and it is more convenient. All the benefits to consumers have come about because retailing in this country is intensely competitive and customers are quick to punish shops that disappoint them.

“We welcome the Competition Commission’s recognition of this1 and their positive comments about innovation and the way that convenience retailing has developed. They also lay to rest the claims that Tesco’s position in the market means that other retailers cannot compete or is acting as a barrier to expansion by other grocery retailers.

“As expected, this provisional report looks at detailed points on suppliers, land and the planning system which we will discuss with the Competition Commission in the coming months. As in other Inquiries, they have set out a wide range of possible remedies. Our job is to make sure that any remedies are justified, have no perverse effects and that the consumer is the winner.

“The months ahead are exciting for Tesco with the opening of our new Fresh & Easy Neighborhood Market stores in America, bringing a new consumer led concept to customers in the US."

31/10/07