Andy Clarke has said Asda could move for some of Iceland’s estate – but appeared to rule out a swoop for the whole chain.
“The estate does not fit our model,” Clarke said yesterday at a former Netto store now converted to the Asda fascia.
“We are going to focus on individual stores or parcels of stores that become available. If Iceland comes to the market in that way, we will be happy to participate in these opportunities if they arise.”
The Asda chief executive also dramatically increased the supermarket’s target for opening smaller-format stores over the coming years.
The Walmart-owned chain will open 250 stores of between 5,000 sq ft and 25,000 sq ft by 2015 – having last year set a target of just 100 smaller stores.
Daily Bread: Size matters (4 July 2011)
Asda hands McKenna chief operating officer role (1 July 2011)
Netto ‘space opportunity’ fee stuns Asda suppliers (11 June 2011)