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Sunday, 18 February, 2001, 15:42 GMT
Supermarket price war steps up
asda store
Prices are to be cut once again at Asda stores
In the latest salvo in the supermarket price war, Walmart-owned Asda has joined its rival Tesco by announcing it is to slash the prices of hundreds of products.

Tesco's 70m worth of price cuts are to be introduced in its stores from Monday.

"Customers have told us in detail how they want prices to get lower and lower and we've listened carefully," said Tesco executive John Gildersleeve.

Asda has now pitched in, bringing forward cuts planned for this spring early.

"We don't need statisticians or pinstripe-suited economists to tell us to cut our prices," said the company's pricing director Eugene Gallagher.

"Our customers know that our 100,000 colleagues are working night and day to lower the cost of living week-in, week-out," he added.

Last month, Asda unveiled 52m worth of reductions in its stores.

The last round of the supermarket price war began in October when Tesco, the UK's largest grocer, cut its prices yet again.

After a year-long investigation, the competition commission ruled in October that the big supermarket chains were not acting uncompetitively.

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02 Oct 00 | Business
Tesco restarts price war
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