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16/04/2004
Tesco to sustain price war
Tesco has today declared that the high street and shopping mall food retail sector will remain a price war zone.
Matching a January price cutting spree, Tesco will dig into its coffers to the tune of £70 million to maintain price cuts and keep up sustained pressure on rival retailers.
There has been a recent escalation in price cuts as the big three UK food retailers, Tesco, Asda and Sainsbury look to renewed competition from owners of the Safeway, William Morrison Supermarkets.
Safeway has moved to bring till prices into line with other Morrison group stores and claims customers are paying up to a quarter less on many items found in the average customers' shopping trolly.
Tesco's latest price cuts will affect some 450 products and will see an average of around 11% trimmed off the cost of a variety of goods selected for price reductions.
(SP)
Matching a January price cutting spree, Tesco will dig into its coffers to the tune of £70 million to maintain price cuts and keep up sustained pressure on rival retailers.
There has been a recent escalation in price cuts as the big three UK food retailers, Tesco, Asda and Sainsbury look to renewed competition from owners of the Safeway, William Morrison Supermarkets.
Safeway has moved to bring till prices into line with other Morrison group stores and claims customers are paying up to a quarter less on many items found in the average customers' shopping trolly.
Tesco's latest price cuts will affect some 450 products and will see an average of around 11% trimmed off the cost of a variety of goods selected for price reductions.
(SP)
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