Morrisons has announced it will be reducing prices on 1,072 items; the latest shot in the UK grocery price war.
"The 'Price Crunch' is first in a rolling programme of price cuts in 2016," said the company in a statement, adding that the latest cuts will include both branded and private label goods.
“We are cutting the prices of products that customers will welcome being cheaper at Morrisons, and we are cutting every penny we can," said Morrisons chief executive David Potts.
"We continue to listen carefully to customers and they have told us they want lower prices, particularly on fresh food and everyday essentials. As we improve our customers’ shopping trip, we are becoming more competitive with our own distinct set of prices."
Commenting on the move, Clive Black, analyst at Shore Capital, said, "The price reductions form part of the ‘long journey’ that chief executive David Potts has spoken about repeatedly to the market in recent months. That journey involves each and every aisle of Morrisons, as necessary and material self-improvement is sought."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by John Golden. To subscribe to ESM: The European Supermarket Magazine, click here.
