UK: Competition will drive down supermarket prices – research
Prices in UK supermarkets are likely to fall further this year as competition gets tougher.
Retail analyst Verdict said today [Monday] that the nation's household grocery bill could drop by as much as £1bn (US$1.86bn), with the anticipated acquisition of Safeway by William Morrison the key driver of a downward price trend.
Sainsbury's has already said it will slash prices in the summer to entice customers into its stores, and other sector players are likely to respond in kind.
Verdict expects to see core grocery prices fall by 1% in 2004, having risen by an estimated 0.9% in 2003, reports Reuters.
The Competition Commission has published a list of uses as part of its inquiry into the recent acquisition of 115 stores and other assets from WM Morrison Supermarkets by supermarket chain Somerfield....
Supermarket Tesco further increased its lead in the UK grocery market in the twelve weeks to 24 April 2005, according to market analysts TNS. Sainsbury managed a small rise, while Wal-Mart's Asda and ...
Dairy company Robert Wiseman Dairies PLC announced today (Thursday) that its supply contract with Wm Morrison Supermarkets is not to be renewed....
Dairy Company Dairy Crest announced today (Thursday) that it is getting a bigger share of WM Morrison's dairy business. It has also acquired dairy company Starcross Foods....
Supermarket chain Safeway has reported net income of $131.3mfor the first quarter ended 26 March 2005 compared to $43.1m for the first quarter of 2004....
Retail supply chain exchanges GlobalNetXchange and the WorldWide Retail Exchange today (Monday) announced that they have agreed to merge....
Supermarket Safeway is today (Wednesday) opening a new $175m distribution centre in Auburn, Washington, the culmination of a 2 1/2 year project which it says solidifies its position in the north west....
Tesco, the UK's biggest supermarket chain, has today (Tuesday) reported a 20.5% rise in pre-tax profits to £2.029bn (US$3.84bn) for the 52 weeks ended 26 February 2005....
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