8th Jun 2015 09:53
LONDON (Alliance News) - Wm Morrison Supermarkets PLC's Monday announced price reductions to a further 200 'everyday' items, as it continues with plans to slash prices in response to changing UK shopping habits and the challenge presented by discount grocers amidst a price war with its competitors in the supermarket sector.
Shares in Morrisons were trading down 1.2% at 171.50 pence Monday morning.
The grocer said it will cut prices of items such as bread, milk and butter by up to a third, the first set of price cuts made under the instruction of new Chief Executive David Potts.
?We want to be the best value retailer ? offering customers the best price for good quality British products. Today we?ve reset some of our prices so that our cupboard essentials will be amongst the lowest on the market,? Potts said in a statement.
Morrisons said it has made 1,665 price reductions since 2014.
It added that it will also simplify promotions in store by grouping together products at the same price point or promotional offer, and that new clearer point of sale materials will make it easier for customers to shop for the best value.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
MRW.L