NEWS

Asda to invest extra £100m in price cuts

Published on: 26th February 2014

Asda is to add to the £200m it set aside to invest in prices this year with an additional £100m cash injection to battle discount retailers.ASDA300

The grocer will bring forward the amount from the £1.25b pot it has earmarked to invest in price and quality over five years as part of boss Andy Clarke’s plan to ‘redefine value retailing’. Following the investment, Asda will lower prices across branded and own-label lines lowered in price at all of the retailer’s UK stores.

Asda said it hopes the move will “further increase the retailer’s price gap to the rest of the big four as well as help close Asda’s gap to discounters, like Aldi and Lidl, which has already been reduced by half in the last 12 months”.

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