date:Feb 26, 2014
rd discounters Aldi ALDIEI.UL and Lidl LIDUK.UL and upmarket grocers Waitrose JLPC.UL and Marks Spencer (MKS.L), losing market share.
A commitment to reduce promotions and invest an additional 200 million pounds ($334 million) cutting prices on basic products like carrots and cucumbers will be seen as a direct response to the rise of the discounters as well as moves by its biggest rivals. Asda, for example, has pledged to spend more than 1 billion pounds on price cuts over the next five years.