Tesco unveils 100 million pounds of price cuts

Tue Jan 6, 2009 8:24am GMT

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LONDON (Reuters) - Tesco announced on Tuesday a further 100 million pounds of permanent price cuts and promotions on more than 3,000 staple products.

The supermarket group said this took its total investment in price cuts over the last fortnight to 200 million pounds.

Asda, Britain's second-biggest supermarket group, said last week it was cutting prices on at least 1,000 essential items.

"This year the cost of shopping will be more important to customers than it has ever been," Tesco Commercial and Marketing Director Richard Brasher said in a statement.

(Reporting by Mark Potter; editing by John Stonestreet)

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