Summary
THE UK's biggest supermarket, Tesco, threw down the gauntlet to its rivals yesterday as it unveiled a pounds 500m price-cutting campaign.
UK chief executive Richard Brasher said it would reduce the prices of 3,000 everyday products - such as milk, bread and fruit and vegetables - in a move which triggered an aggressive response from rivals. Tesco, which has lost market share in recent weeks as cash-strapped consumers shop around for the best deals, will cover the price cuts by slashing the number of multi-buy promotions and scrapping its double Clubcard points reward offer, meaning the scheme will revert to one point for every pound spent.See the full content of this document
Extract
Tesco Set to Trigger New Store Price War
Mr Brasher, who took up the top UK post i...
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