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Supermarket 'facing pressure to slash prices'
The Journal
|April 11, 2025
TESCO has signalled that a price war among UK supermarkets is mounting, as its boss pointed to an “intensification” of competition across the sector and targeted as much as £50m in fresh cost cuts.
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Chief executive Ken Murphy said the company is facing mounting pressure to slash prices, after competitor Asda recently promised the company’s biggest price cuts in 25 years.
Tesco said it expects to make as much as £400m less in profit next year as a result of what Mr Murphy called “a very competitive market’:
This story is from the April 11, 2025 edition of The Journal.
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