Wal-Mart’s UK supermarket chain Asda has announced price cuts worth £100m (US$188m).
“The cuts mean that, by the end of June, ASDA will have spent £231m lowering prices in 2005 – the biggest ever package of price cuts for the first half of a year,” the company said
The cuts, which were implemented on 4 April, affect food and non-food items. “The price cuts cement ASDA’s reputation as Britain’s best value retailer, a positioned reinforced by its winning the Grocer 33 award for the best value supermarket, based on weekly price comparisons, seven years running,” Asda said. “
“Today’s cuts are the deepest and broadest we have ever made and show that, when it comes to value, there are those that talk and those that deliver,” said Angela Spindler, ASDA’s trading and marketing director.