Morrisons unveils second round of ‘permanent’ price cuts of up to 41% across 135 products
Pineapples and tinned tomatoes are among the latest round of price cuts by Morrisons as the retailer tackles ongoing price pressure from discounters.
Giant pineapples have been reduced from £2 to £1.25 for one, while a 400g tine of Don Mario tomatoes is reduced to 69p.
“This is another major price reduction programme,” said Morrisons CEO Dalton Philips. “These are permanent price cuts, not promotions, and they won’t be the last.”
The second round of price cuts will see products slashed by up to 41%, with an average reduction of 14%. Cuts will be predominantly in grocery and household items and include a mixture of brands and own-brand.
The news comes as the beleaguered retailer announced it would be axing up to 2,600 jobs as part of a change to its management structure.
Philips told BBC News: “This is the right time to modernise the way our stores are managed.
“These changes will improve our focus on customers and lead to simpler, smarter ways of working.”
Meanwhile rival Sainsbury’s appears to be taking the ‘if you can’t beat them join them’ approach by relaunching Netto in the UK. CEO designate Mike Coupe said: “”This joint venture provides a great opportunity for us to gain exposure to the high growth discount market for the first time in partnership with Dansk Supermarked.”