date:Mar 14, 2014
on pounds ($1.66 billion) on price cuts over three years. That fuelled concerns about pressure on margins in the sector, which faces stiff competition from discount chains such as Lidl and Aldi.
Everyone feels Morrison's and some of the other supermarkets have to take on the Aldis and Lidls of this world and ... get their prices down, and that's not good for profits, said Mike Franklin, investment strategist at Beaufort Securities. I'd wait a bit for the food retailers to get out of this partic