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| Morrisons cuts cost of basics as supermarket price war continues | Morrisons cuts cost of basics as supermarket price war continues |
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| Morrisons is to cut the prices of more than 1,000 products as the supermarket price war continues. | Morrisons is to cut the prices of more than 1,000 products as the supermarket price war continues. |
| The UK’s fourth largest grocer said this week it will reduce the cost of items such as fruit and vegetables by an average of 19%. It said it will launch a rolling programme that will cut the price of selected items for at least three months. | The UK’s fourth largest grocer said this week it will reduce the cost of items such as fruit and vegetables by an average of 19%. It said it will launch a rolling programme that will cut the price of selected items for at least three months. |
| The Bradford-based chain said its cuts this week, which will apply to 1,072 products. | The Bradford-based chain said its cuts this week, which will apply to 1,072 products. |
| The move comes as the country’s main four supermarkets – Asda, Tesco, Sainsbury’s and Morrisons – compete to keep market share against discounters Aldi and Lidl. Supermarket prices have fallen for more than a year. | The move comes as the country’s main four supermarkets – Asda, Tesco, Sainsbury’s and Morrisons – compete to keep market share against discounters Aldi and Lidl. Supermarket prices have fallen for more than a year. |
| Morrisons chief executive, David Potts, said: “We continue to listen carefully to customers and they have told us they want lower prices, particularly on fresh food and everyday essentials.” | Morrisons chief executive, David Potts, said: “We continue to listen carefully to customers and they have told us they want lower prices, particularly on fresh food and everyday essentials.” |
| Last month Morrisons said customers were coming back to its stores as it posted a surprise rise in festive sales after its best Christmas for four years. | Last month Morrisons said customers were coming back to its stores as it posted a surprise rise in festive sales after its best Christmas for four years. |
| The grocer, which has almost 500 stores, reported a 0.2% rise in sales at established shops, excluding fuel, in the nine weeks to 3 January in a turnaround after hefty sales declines. Figures for the six weeks to 3 January showed an even better performance, with like-for-like sales up 0.5%. | The grocer, which has almost 500 stores, reported a 0.2% rise in sales at established shops, excluding fuel, in the nine weeks to 3 January in a turnaround after hefty sales declines. Figures for the six weeks to 3 January showed an even better performance, with like-for-like sales up 0.5%. |
| But Morrisons said last month it would close another seven stores despite the improved trading, putting about 680 jobs at risk. The closures follow its announcement last September that it was shutting 11 stores, affecting around 900 employees. | But Morrisons said last month it would close another seven stores despite the improved trading, putting about 680 jobs at risk. The closures follow its announcement last September that it was shutting 11 stores, affecting around 900 employees. |
| As well as the store closures, Morrisons also agreed the sale of 140 local convenience stores last September for about £25m to concentrate on its larger supermarkets. | As well as the store closures, Morrisons also agreed the sale of 140 local convenience stores last September for about £25m to concentrate on its larger supermarkets. |
| Analysts at Shore Capital said the move was “another notch in its progress to being a more distinctive value-orientated superstore group”. | Analysts at Shore Capital said the move was “another notch in its progress to being a more distinctive value-orientated superstore group”. |