Morrisons extends price cuts

Supermarket giant Morrisons has further cut prices in another effort to win back customers amid discounter competition.

The big four are still locked in a price war as they face continued pressure from discounters such as Aldi and Lidl. Morrisons has cut the price of 135 products from today, including flour and oven chips, with prices falling by an average of 14%.

Earlier this month Morrisons’ former chairman Sir Ken Morrison criticised the brand’s performance and, at the annual shareholder meeting, Sir Ken likened the plans of chief executive Dalton Philips to the manure produced by his herd of cattle.

Sales downturn

Meanwhile, last month its like-for-like sales fell by 7.1% in the 13 weeks to 4 May – a decrease that will negate the impact of its new stores. In March it announced a £1bn investment on cutting prices, developing a loyalty scheme and improving its own brand goods over three years.

Discounts were introduced in May as part of that campaign, but today’s price cuts are part of a separate move and affect different product categories.

Morrison’s chief executive Dalton Philips labelled the discounts as “permanent” and advised that they would not be the last.

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