Tesco unleash ‘price-war’ on competitors

SUPERMARKET giant Tesco is set to launch an aggressive campaign of price-cutting that is expected to boost profits for the chain, and spell trouble for competitors. An official announcement detailing radical new prices and offers is imminent.

Analysts believe other chains which offer 'price-match' with Tesco will be worst affected. One of these is Ocado, which has seen its share price plummet in recent months.

Tesco is embarking on a new campaign of "innovation and growth," says chief financial officer Laurie McIlwee. The company is in a strong position having "raised about £5.5bn in the past seven years from selling and leasing back its British stores".

Tesco are also expanding fast in Thailand, with up to 1,000 stores in the kingdom by next year.

Read a full report at the Daily Telegraph. ·