date:May 09, 2014
will reduce sales going through the tills and be deflationary, Philips said last week.
We are confident that these meaningful and permanent reductions in our prices will enable our clear points of difference to resonate strongly with consumers, the CEO said in todays statement.
The grocer today confirmed its forecast for full-year underlying pretax profit of 325 million to 375 million. Earnings in the previous fiscal year were 785 million on that basis, the second straight decline.
The compan