Brussels-based international food retailer Delhaize reported today (10 January) it was lowering food prices for over 500 national brands in Belgium.
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The move comes as part of the retailer’s efforts to remain competitive in the face of increasing pricing pressure from aggressive discounters such as Colruyt, Bank Degroof says.
A spokesperson for Delhaize told just-food: “We have lowered prices based on products that have sold in high quantities, such as Always, Pantene and many other well-known brands. The reason for this is because of the strong opposition, we want to offer competitive prices.” The low product prices are expected to be permanent.
Delhaize, which does two thirds of its business in the US, saw its share price fall 5.2% yesterday on general worries about a possible US recession.
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