Sainsbury’s chief sings ‘We’re in the Money’ after Asda merger

The chief executive of Sainsbury’s has been filmed singing “We’re in the Money” on the same day he announced a blockbuster merger with Asda.

Waiting to be interviewed by ITV, Mike Coupe started warbling one of the best-known songs from the musical 42nd Street. In the clip released by the broadcaster, he is shown singing: “We’re in the money, the sky is sunny. Let’s lend it, spend it, send it rolling along.”

Sainsbury’s did not see the funny side of ITV releasing the clip. In a statement, Coupe, who expects Sainsbury’s to make £500m in extra profit from the transaction, said he was composing himself before the interview.

“It was an unfortunate choice of song, from the musical 42nd Street, which I saw last year. And I apologise if I have offended anyone,” said Coupe, who is an accomplished musician.

A spokesman for Sainsbury’s said: “We all know these songs stay in your head. To attach any wider meaning to this innocent, personal moment is preposterous.”