Tesco Takes Aim at Combined Sainsbury, Asda With Price Cuts
- Grocer lowers cost of its own-brand meat and vegetables
- Tesco sales grow for 10th consecutive quarter as Booker shines
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Tesco Plc racked up its 10th consecutive quarter of growth and cut prices in a pre-emptive strike against rivals preparing to challenge its role as the U.K.’s largest retailer.
The supermarket operator has lowered prices on its own-brand meat, fruit and vegetables, countering reductions promised by J Sainsbury Plc as part of its planned acquisition of Walmart Inc.’s Asda -- a deal that could vault the combined companies ahead of longtime No. 1 Tesco. The reductions followed faster-than-expected sales growth in the latest quarter.