UK supermarket chain Asda, a subsidiary of US retail titan Wal-Mart, has announced further price cuts of £65m (US$119.6m), as competition between the major UK supermarket chains intensifies.
Asda, the UK’s second-largest supermarket chain, said it would make price cuts across the board, bringing its total price reductions to £175m so far this year, reported Reuters. Last month the company reduced prices by £40m.
“Price cuts will be across the board and on brands that are shopped week-in and week-out,” Asda was quoted by Reuters as saying.
Rival supermarket chain Morrisons recently stepped up price competition in the UK grocery market by reducing prices at its newly acquired Safeway stores.
Asda also said it expects to sell around 18 million Easter eggs this year.